EU Justice Commissioner and vice-president of the European Commission, Viviane Reding calls for the “troika” of the European Commission, the European Central Bank and the International Monetary Fund (IMF) to be dissolved.

According to Reding “the time of the troika is over. Getting the IMF on board in recent years was an emergency solution. In future, we Europeans have to be able to resolve our problems on our own.”

The troika negotiates with countries in crisis, such as Greece, Portugal and Ireland, on austerity and reform measures they have to undertake in return for bailouts. It also supervises the implementation of such steps. Reding said European institutions could manage this without the IMF…
European Commission