ECONOMICS > Turkish PM supports ‘Turkish-Lira zone’ alternative to eurozone

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Some suggest Turkey stay out of the eurozone and establish a “Turkish-Lira zone” instead as accession talks with the European Union continue, Turkish Prime Minister Recep Tayyip Erdoğan has said.

“Securing political stability in Europe is critically important to maintain the confidence of European societies in the union and the euro,” said Erdoğan, who is in Berlin for a two-day visit, in a statement at the Nicolas Berggruen Institute.

“I know that there are some EU member countries which say ‘I am against the euro, I do not want to take part in the eurozone.’ For instance Britain… It is quite self-satisfied. They even say ‘You should stay away from the eurozone, you can establish a Turkish-Lira zone.’ And I said I think the same way, too. The EU should check up on itself regarding the [monetary system],” he said.

Turkish PM Erdoğan will meet with German Chancellor Merkel today to discuss both regional and bilateral issues, including the Syrian crisis.

PM: Turkey will join EU by 2023


Prime Minister Recep Tayyip Erdoğan said yesterday in Berlin that he expected Turkey to join the European Union by the year 2023, which marks the 100th anniversary of the Turkish Republic, reported daily Milliyet.

"I don't think we will have to wait until 2023. This would be a great loss for the EU. It would lose Turkey, where Islam and democracy exist together. Turkey is a country with a population of 75 million people and a rising economic growth graphic which can make a crucial contribution to the EU," he said, in response to a reporters' question: "Do you expect Turkey to join the EU before 2023?"

Erdoğan was in Germany for the inauguration ceremony of the new Turkish Embassy building.


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Notice on comments

mara mcglothin

10/31/2012 10:57:12 PM

The bottom line is Turkey needs to reform in order to rise to EU criteria. It doesn't matter one way or another if they join, just become eligible and then talkSpot on! MARK MARK

Peter Kypros

10/31/2012 10:11:23 PM

One needs to look at the numbers. The economy of Turkey has benefited considerably from EU. If EU collapses here goes Turkey too. If Turkey fails to join EU the price paid may not be necessarily economic assuming everything else works and new markets are found but on values with negative consequences on its people. The Kurdish issue is an internal bomb that can only be handled via EU principles and further democratization of Turkey.

american american

10/31/2012 9:35:08 PM

so give back all that eurocash you borrow

Nikolaos Bostantzoglou

10/31/2012 8:53:15 PM

My dear friends, I don't know much about Turkish politics and please let me stay out of it. Due to my field of studies and because of my love to the magnificent city, I spend most of my time in Istanbul. I know the place very well from Kurtulus to Yedikule and from Sariyer to Bujukada. Istanbul can be expensive in a couple of parts but very inexpensive to all others. It's a paradise for people (families and individuals) to live here! Don't fall for the euro trap. Keep your lira!


10/31/2012 7:53:37 PM

PM, Turkish Lira with the TURKIC UNION would be perfect!!! You don't want to spend your hard earned money on bankrupt nations, like the Netherlands does, do you?

Sid Mark

10/31/2012 7:09:40 PM

Turkish lira zone with Raufland

Turk Uzan

10/31/2012 6:51:38 PM

@ Ozman ..how many Kemal's do you know who have their face on our national currency .. was that supposed to be a joke or an insult!? @ JRC ... really .. now name a few, african union and arab league .. you are comparing that to the EU?! hahahaa ... @ Everyone, for your information, Turkey is part of the Turkic council and TURKSOY (unesco like organization, but for Turkic countries) which could be turned in to a Europe like union .. which would be a far better move in the long run than the EU

Mark Mark

10/31/2012 5:35:27 PM

@Dogan - you are mistaken.Turkey has grown on the back of potential EU membership and the Customs Union. Take all that away and Turkey will have nothing. Put up the trade barriers and you see what will happen to your economy. Lets see who needs who then.

dogan kemal ileri

10/31/2012 4:31:52 PM

Mr Somalia is spot on.The reality is the EU need us much much more than we need them.Leave the EU to wallow in their hypocracy and venemous attitudes and seek alternative alliances and markets in the East,ME,Asia,Africa and Americas.I am glad Turkiye is on this course and is reaping the rewards there of.TL is a stable investible currency,inflation and interest rates down to single digits and GDP trebled under Erdogan.s rule.For achievement he has no rival worldwide.


10/31/2012 3:18:25 PM

Much is said of Turkey establishing an alternative to the EU. There are many already. The question is: why has Turkey not been invited to join any other than the EU? Why has no country recognised Northern Cyprus, even Turkey's so-called "friends"? All nations surrounding Turkey are members of one regional union or another, it stands alone. Erdogan needs to ask why before making grand statements.
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