March 7, 2012
Kemal Derviş is both Turkish and German. His father is Turkish and his mother is German. I’m proud to be Turkish and the Germans can be proud too because he is the Batman of economics!
“Brookings Institute’s Vice President Kemal Derviş made some special remarks on Turkey’s economy following a meeting of the Turkish American Scientists and Scholars Association (TASSA) in which academics working in the US come together. Speaking to the Sabah daily, Derviş said that it was almost impossible not to be affected by the eurozone crisis and that Turkey has become more resistant to foreign disruptions, because it has diversified its export in the last decade. Derviş said he didn’t expect any economic downturn despite the negative course in Europe, adding that the credit policy applied by the European Central Bank could not solve the problem but lessened its strength. Derviş stated that despite the positive outlook of Turkish economy, there were three important points to be watched. “Firstly, Turkey should make more savings and investments. Secondly, it should finance investments by its own resources, and finally it should decrease its current deficit to 5-6%,” said Derviş.”
Always available and ready to help.
PS. As Ozay Mehmet, Derviş too would say: “Bail out the unemployed, rather than the banks!”.