Brussels, 25/02/2014 (Agence Europe) - On Monday evening, the European Parliament's economic and monetary affairs committee voted through an own initiative report by 31 votes to 10 and 2 abstentions on recommendations for reforming the troika of international lenders (European Commission, European Central Bank and International Monetary Fund) to countries in receipt of aid. The report calls for the troika to be dismantled later on and for a European monetary fund under the aegis of the European stability mechanism to be set up under the Community method to take its place (see EUROPE 11025).
After the vote, Othmar Karas (EPP, Austria), one of the two co-rapporteurs, said that it was out of the question to abolish the troika now: “The EU too, needs clear rules on how to deal with states in crisis. I called for a European 'State Bankruptcy Prevention Law' and I am glad that the committee supported the idea. The troika was a necessary interim solution. But in the long run we need rules on the basis of EU law ». The other co-rapporteur, Liem Hoang Ngoc (S&D, France), pointed out: “The troika has provoked a lot of anger and despair in the countries under surveillance. It is now time to take a new path to recovery where all stakeholders, including the social partners and the European Parliament, are fully involved ». The vote is expected in March. (EL/transl.fl)