Now showing 1 - 2 of 2
  • Publication
    The Troika’s variations on a trio: Why the loan programmes worked so differently in Greece, Ireland, and Portugal
    (University College Dublin. Geary Institute, 2017-10-17) ; ; ;
    Portugal and Ireland exited Troika loan programmes; Greece did not. The conventional narrative is that different outcomes are best explained by differences in national competences in implementing programme requirements. This paper argues that three factors distinguish the Greek experience from that of Ireland and Portugal: different economic, political, and institutional starting conditions; the ad hoc nature of the European institutions’ approach to crisis resolution; and the very different conditionalities built into each of the loan programmes as a result. Ireland and Portugal show some signs of recovery despite austerity measures, but Greece has been burdened beyond all capacity to recover convincingly.
      345
  • Publication
    Tangling with the Troika: ‘domestic ownership’ as political and administrative engagement in Greece, Ireland, and Portugal
    This paper analyses variation in the degrees of difficulty involved in negotiating and implementing loan programmes with the international lenders in Greece, Ireland, and Portugal. All three countries displayed high degrees of ultimate compliance with fiscal consolidation and structural adjustment conditionality, but the pace of implementation varied significantly. This paper argues that ‘domestic ownership’ of the loan programmes is a key determinant of outcomes, understood in terms of two dimensions: negotiating capacity and implementation capacity. Empirical evidence confirms that these concepts provide a strong explanatory framework for understanding variation in relations between national governments and the international lenders.
      301Scopus© Citations 10