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Greece: Troika's harsh policies will not work

The way to achieve whatever framework one thinks is good for the Greek economy is through persuasion, not compulsion.

Normally, the IMF warns of the dangers of high taxation. Yet in Greece, the troika has insisted on high effective tax rates even at very low income levels.


AS THE Greek crisis proceeds to its next stage, Germany, Greece and the triumvirate of the International Monetary Fund (IMF), the European Central Bank and the European Commission (now better known as the troika) have all faced serious criticism. While there is plenty of blame to