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Troika

The term Troika, which comes from the Russian meaning 'a triad' or 'a group of three', was widely spread during the euro zone crisis to describe the European Commission, International Monetary Fund and European Central Bank, who form a group of international lenders that set austerity measures when they provide bailouts, or promises of bailouts for indebted European states such as Ireland, Portugal and Greece – in the financial crisis.

The term has become widely used today due to the ongoing standoff between Greece and its above mentioned creditors.

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