What it means:Ever wonder if you've been taken for a ride on a trans-Europe express to nowhere? Ever suspect we've all been forced to join a false economy, where throwing good money after bad is seen as a solution to our fiscal woes? Ever think all these demands for austerity are a little bit rich?
Well, here's the reason: you're living by troikanomics, a crazy financial system that bends the laws of economics into strange, nightmarish shapes, all in the name of keeping the euro dream alive. When you see your income plunge towards the basement while the cost of living shoots towards the roof, you'll know you're trapped in a euro edifice that's about to come crumbling down.
Where it comes from:It used to be the institutions of school, church and GAA that ruled our lives, but these days our destinies are decided by the European Commission, the International Monetary Fund and the European Central Bank. You'd think that between the three, they'd come up with some clever ways to solve the euro crisis. Instead, every solution they come up with plunges the euro zone closer to catastrophe. In last Monday's Irish Times, Prof Ray Kinsella warned of the political consequences of troikanomics, and Fergus Finlay of Barnardos slammed what he called the "austerity scandal". To use another recent buzzword – it's an omnishambles.
How to say it:"That's strange – I tried to sign up for the troikanomics class, but they said I could only join if I forget everything I learned in history."
