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ANKARA: An 'innovative' open letter to a French presidential candida

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  • ANKARA: An 'innovative' open letter to a French presidential candida

    Turkish Daily News
    Oct 20 2006

    An 'innovative' open letter to a French presidential candidate
    Friday, October 20, 2006

    This letter is to salute your courageous and visionary call last
    Thursday for expenditures by European Union governments in the areas
    of research and development and in innovation to be exempt from the
    budgetary constraints of the Growth and Stability Pact, the so-called
    'Maastricht Criteria.' Your 'blueprint' outlined last week touched on
    many important areas, from labor standards to agriculture. It is
    consequently my hope that the breadth of your vision and blueprint
    does not lead to neglect by the media and others of the specific
    incentives to boost intelligent spending on R&D and innovation. For
    yours is without question the most original idea I have heard in
    recent years to revitalize Europe's technology-based industries and
    prepare them for a future in which they can compete without resorting
    to 'flight' to the United States or 'outsourcing' to low-cost China
    and India. In short, this dimension of your set of proposals deserves
    a thorough airing.

    David Judson
    Mme. Segolene Royal:

    This letter is to salute your courageous and visionary call last
    Thursday for expenditures by European Union governments in the areas
    of research and development (R&D) and in innovation to be exempt from
    the budgetary constraints of the Growth and Stability Pact, the
    so-called "Maastricht Criteria." Your "blueprint" outlined last week
    touched on many important areas, from labor standards to agriculture.
    It is consequently my hope that the breadth of your vision and
    blueprint does not lead to neglect by the media and others of the
    specific incentives to boost intelligent spending on R&D and
    innovation. For yours is without question the most original idea I
    have heard in recent years to revitalize Europe's technology-based
    industries and prepare them for a future in which they can compete
    without resorting to "flight" to the United States or "outsourcing"
    to low-cost China and India. In short, this dimension of your set of
    proposals deserves a thorough airing.

    I hope you will forgive the temerity of a journalist's resort to
    the device of an "open letter" to offer my praise. But given the fact
    your R&D proposal came on the same day as the unfortunate vote in
    France's Parliament to censure those who disagree with a particular
    interpretation of events surrounding the collapse of the Ottoman
    Empire at the beginning of the 20th century, I am sure you will
    understand my motives. The history of the tragedy that befell the
    Armenian people in 1915 is a separate matter. But as that vote has
    set in motion a train of political events that may well stalk
    relations between France and Turkey for many years, the timing of
    your proposal on European economic regeneration may well be a source
    of hope for the continuation of productive dialogue and collaboration
    between the two countries.



    The reasons for this are two:

    First, Turkey is deeply engaged in its own debate about nurturing
    and supporting the concept of innovation. Books on the topic go
    through multiple printings, innovation is frequently in the headlines
    of virtually all the press and the importance of innovation is one we
    champion in my own newspaper, Referans, the national business daily.
    With strong academic networks and a student population that is more
    than twice as large as that of any other European country, Turkey has
    much to contribute to innovation in the broader European context in
    life sciences, IT, engineering, agro-industry and in many other
    sectors. Turkey's resources in this area are, in my view, key to
    restarting the so-called "Lisbon Agenda" of 2000 that seeks to make
    Europe the world's most competitive economic bloc.

    The second reason goes to the underlying logic in your proposal of
    exempting expenditures in support of long-term economic
    sustainability from the constraints of short-term fiscal accounting.
    As you are aware, Turkey is well on the way to orienting its own
    economy to the terms of the EU's "Growth and Stability Pact." But
    Turkey also faces an additional fiscal burden imposed by the
    International Monetary Fund (IMF). I refer to the IMF-imposed
    requirement to maintain a budgetary surplus exclusive of interest of
    6.5 percent. This criterion leaves planning for Turkey's 2007 budget
    with a current shortfall of some YTL 6 billion, a sum equivalent to
    about 3.25 billion euros. At this juncture, the logic and elegance of
    your proposal is something that should be brought to the attention of
    the IMF, not just as it relates to the case of Turkey but perhaps as
    its potential relates to the health of other emerging economies as
    well.

    I wholeheartedly support your view as you expressed it last
    Thursday that "There is a demand for the French in Europe and a
    demand for Europe in the world." There is also a demand in Turkey, in
    Europe and the world for the kind of economic thoughtfulness you so
    articulately put forward last week at a moment when our attentions
    were elsewhere.

    I would certainly appreciate your forwarding of this letter to
    those members of your economic policy team who might assist us in
    exploring the specifics of what you propose. Similarly, if either you
    or anyone on your team might envision a trip to Turkey, we would be
    pleased to host you as guests and provide you with a broad forum for
    the further sharing of your ideas.

    With kind regards and best wishes for your success,

    David Judson

    Managing Editor

    Referans
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