Troika
Definition: Troika - If you follow financial and business news in Greece, the troika is mentioned in practically every article. But just what - or who - is The Troika?
The troika is a slang term for the three organizations which have the most power over Greece's financial future - or at least that future as it is defined within the European Union. The three groups are the European Commission (EC), the International Monetary Fund (IMF), and the European Central Bank (ECB).
Although the word may conjure up the image of ancient Troy, it is not drawn directly from Greek. The modern word is from Russian, where it means a triad or three of a kind. It originally referred to a type of sleigh drawn by three horses. See a picture of a traditional troika from the About.com European Travel guide.
However, the Russian word may itself have derived from trokhos, a Greek word for wheel. The troika is generally referred to in lower case, and is often used with "the".
Don't confuse the troika with the term tranche, which refers to different sections of funds of a loan to be released. The troika might comment on a tranche, but they are not the same thing.
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