Koç University - TÜSİAD Economic Research Forum held a conference entitled "European Debt Crisis"

On November 19th, 2012, Koç University - TÜSİAD Economic Research Forum held a conference entitled “European Debt Crisis”.

The opening speeches of the conference were delivered by Ms. Ümit Boyner, thePresident of the Board of Directors of TÜSİAD, and by Prof. Barış Tan, Dean of College of Administrative Sciences and Economics of Koç University.

In her opening speech, Ms. Boyner pointed out the potential risk faced by the Turkish economy, since it is dependent on foreign savings, due to the problems occurred in the EU banking and financial system as a result of the EU debt crisis. . Ms. Boyner said: “In-depthanalysis of these risks related to the EU debt crisis must be made by the Turkish Banking System, although it is well protected with effective measures against adverse and contagious effects of the crisis.” Reminding that three fourths of direct foreign investment in Turkey are from  EU origin, Ms. Boyner expressed that this constitutes an additional risk as the EU debt crisis and the related economic crisis curb the resources of these countries available for foreign investment and thus restrict foreign capital inflow opportunities for Turkey. Ms. Boyner said that  global repercussions of the EU debt crisis additionally concern  Turkey as a large economy, member of the G-20. Ms. Boyner remarked that the increasing integration of Turkey to the global economy complicates the problems and she underlined that in the context of its relations with the EU, Turkey has economic interaction channels nearly as deep as other EU member countries.

The conference discussed the evolution of European debt crisis, the analysis of current situation, the recovery policies, and the repercussions of the crisis in the global and the Turkish economy.

The conference included a panel discussion entitled “European Debt Crisis”, moderated by Prof. Sumru Altuğ, Lecturer in Koç University. Dr. Harris Dellas, Lecturer in Bern University, Mr. Ege Cansen, Columnist in the daily Hürriyet, Dr. Manfred J. M. Neumann, Lecturer in Bonn University, and Mr. Serhat Gürleyen, Research Director of İş Yatırım contributed with their presentation.