troika

The Greek Coup: Liquidity as a Weapon of Coercion

Aug 2, 2015
In the modern global banking system, all banks need a credit line with the central bank in order to be part of the payments system. Choking off that credit line was a form of blackmail the Greek government couldn’t refuse.
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Breaking With Europe, IMF Calls Greek Debt Program ‘Unsustainable’

Jul 2, 2015
The International Monetary Fund, part of the troika of financial organizations currently demanding austerity from Greece, “electrified the referendum debate in Greece after it conceded that the crisis-ridden country needs” $55 billion in extra funds and large-scale debt relief to create “breathing space” and stabilize its economy, The Guardian reports.