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The troika has become synonymous with austerity and opaque decision-making (Photo: Bundesregierung)

Germany: No need to get rid of troika

Germany has snubbed both EU commission chief Jean-Claude Juncker and Athens by saying it sees no need to put an end to the troika of international creditors in Greece.

The troika - comprising the European Commission, the European Central Bank and the International Monetary Fund - has become a synonym for austerity policies and non-transparent decision making for bailed-out countries.

Juncker pledged in his election programme to have it replaced by a "more democratically legitimat...

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