Troika

Troika Becomes the Villain in a Greek Tragedy

A humanitarian crisis is unfolding in Greece and other recession-hit European countries as they undergo harsh austerity measures in exchange for a bailout. At the heart of it is the Troika, say trade unions, civil society and rights activists.

An eatery in Lisbon offers cheap "troika" lunches to weather the crisis. Credit: Katalin Muharay /IPS

Portugal’s Disappearing Middle Class

Poverty in Portugal has risen to levels that were unimaginable a year ago despite the bleak outlook forecasted by the harsh measures imposed by the troika of creditors in exchange for the country's financial bailout.

Creditors’ Stalemate Brings Greece to Knife Edge

Ignoring the thousands of protestors gathered outside the Greek parliament on Wednesday, the government voted in public spending cuts amounting to 17 billion dollars in an economy already on its knees from a lacerated budget.