Tangling with the Troika: ‘domestic ownership’ as political and administrative engagement in Greece, Ireland, and Portugal

This paper analyses variation in the degrees of difficulty involved in negotiating and implementing loan programmes with the international lenders in Greece, Ireland, and Portugal. All three countries displayed high degrees of ultimate compliance with fiscal consolidation and structural adjustment conditionality, but the pace of implementation varied significantly. This paper argues that ‘domestic ownership’ of the loan programmes is a key determinant of outcomes, understood in terms of two dimensions: negotiating capacity and implementation capacity. Empirical evidence confirms that these concepts provide a strong explanatory framework for understanding variation in relations between national governments and the international lenders.
The Portuguese portion of this study was conducted at the Research Centre in Political Science [UID/CPO/0758/2019], University of Minho, and was supported by the Portuguese Foundation for Science and Technology and the Portuguese Ministry of Education and Science through national funds.