Ireland has now left the clutches of the bailout-for-austerity framework created by the Troika (the European Commission, the ECB, and the IMF) for indebted eurozone countries. But the the monetary union's other distressed countries cannot replicate Ireland's success – nor should they want to.
DUBLIN – Ireland has now left the clutches of the bailout-for-austerity framework established by the Troika (the European Commission, the European Central Bank, and the International Monetary Fund) for indebted eurozone countries, and is leading the monetary union’s economic recovery. European policymakers, including Jean-Claude Trichet, the ECB’s former president, have suggested that Ireland’s dogged commitment to austerity is a model for others.
DUBLIN – Ireland has now left the clutches of the bailout-for-austerity framework established by the Troika (the European Commission, the European Central Bank, and the International Monetary Fund) for indebted eurozone countries, and is leading the monetary union’s economic recovery. European policymakers, including Jean-Claude Trichet, the ECB’s former president, have suggested that Ireland’s dogged commitment to austerity is a model for others.