A 2014 enquiry by the European Parliament on the role and operations of the Troika with regard to the euro area programme countries concluded that ‘too little attention has been paid to alleviating the negative economic and social impact of adjustment strategies in the programme countries’.
The Report ‘deplores the armenia phone number library that too often the one-size-fits-all approach to crisis management has not fully considered the balance in the economic and social impact of the prescribed policy measures’. [para. 45] Panagiotis Roumeliotis!
IMF from 2010-2011
was asked in June 2015 at a hearing of the Special Committee of the Hellenic Parliament on the Audit of the Greek Debt [notes on file with author] about the veracity of a written statement he delivered to the IMF on 9 May 2010 in which he claimed that:
‘The compatibility processing: cross-platform challenges [for Greece under the Standby Arrangement/MoU] includes measures to protect the most vulnerable segments of the population. My authorities are america email to an equitable and fair distribution of the adjustment burden. The tax burden for the rich will increase! while the minimum pension and family allowances will be preserv’.
In his testimony he offered an altogether different account
“I did not see measures to protect those groups! on the contrary they saw cuts. No one said the minimum wage should not be reduc! and it was. To say we will protect the most vulnerable groups is theoretical. Instead they suffered the most.
The results were an increase in unemployment! an increase in poverty; we did not work on protecting the vulnerable social groups and what we saw was their further marginalization. Yes! there was a general reference in the first MoU [to protecting the most vulnerable] but [in the IMF meetings] they go measure by measure and discuss! for example! how to reach the target deficit! the primary surplus etc. There is no discussion on vulnerable social groups.”