Europe’s stalemate could benefit Turkey

ISTANBUL - Anatolia News Agency

Capital Markets Board head Vedat Akgiray speaks during an Istanbul event. AA photo

Europe’s difficulty in finding a solution to the economic crisis could benefit Turkey, according to Vedat Akgiray, the head of the Capital Markets Board (SPK).
“If Europe is unable to find a solution for years to come, then this is good news for us. Since Turkey is currently in better shape, it will be a preferred investment location,” said Akgiray at the Global Change and New Opportunities conference organized by the National Association of Real Estate Investment Companies (GYODER) and Finans Dünyası magazine.
Furthermore, he said if Europe managed to pull through, it would be in Turkey’s interest since Turkey was economically dependent on Europe in the short-term.
Akgiray said Turkey should continue structural reforms and create a competitive environment as soon as possible.
“Turkey has not had such an opportunity in the past 100 years,” he said.