MEPs: Troika undemocratic, European Monetary Fund needed

The European Parliament is calling for the creation of an EU monetary fund to replace the "undemocratic" troika of international lenders.

In a non-binding report voted Thursday (13 March) in Strasbourg, MEPs set out the creation of a European Monetary Fund as a "long-term goal" that will require a change of the EU treaties.

They argue this is needed because the 'troika' of lenders (European Commission, European Central Bank and International Monetary Fund) was an "ad-hoc" set-up ...