ROLES OF THE TROIKA IN EUROZONE CRISIS: CASE OF GREECE (2008-2012)

Abstract

This thesis aims to discuss the roles of the Troika in an effort to handle the economic crisis in the Eurozone, the countries that use the Euro as their national currency, which is limited in the period of 2008-2012, when in 2008 was the beginning of the appearance of the symptoms of the sovereign debt crisis in several Eurozone countries that later prolonged until now. Troika is a term of association that consists of three international organizations, namely the European Commission (EC), the European Central Bank (ECB), and the International Monetary Fund (IMF). Greece as a country which has been experiencing and also slightly triggering the economic crisis in other countries in the Eurozone is the main object used in this study. The impact of this crisis was not only affecting the economy and financial sector, but also in the socio-political sector and cohesiveness sector in the European Union (EU). Therefore these three sectors are utilized as the measurement on how effectiveness of Troika's roles in the crisis. The research in this paper uses qualitative research methods which are then presented descriptively in explaining the analysis of changes in the countries which has been experiencing this crisis since the Troika has also been actualizing its policies in dealing with the crisis. The findings supported the effectiveness of the roles of the Troika with the improving conditions of economic and financial, sociopolitical as well as the cohesiveness Greece in its EU membership in 2012.