In one of its articles today the German newspaper Handelsblatt presents the troika as the most hated institution in Europe today.

Under the title “50 years troika”, the newspaper notes that “the troika is overseeing aid packages to countries hit by the economic crisis and controls the implementation of radical reforms that are a precondition for economic support. In December Ireland managed to complete the program. But it had to use the crutch of the credit repayment elongation to more than 20 years and the 10-year suspension in paying interest.”

As it notes, similar arrangements are provided for Portugal, but in the case of Greece the extension will exceed 30 years. In fact, the newspaper says the extension might even reach 50 years.

“However, to ensure the sustainability of their debt, Greece and Portugal should increase their economic growth rates. At the same time, they should give a new perspective especially to their young people, so they would not think that their only goal for the next 30 years will be the repayment of loans and interest,” the article adds.