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Hurriyet Daily News, Turkey
Dec 24 2011
Deputy PM silent on pressure on lenders
ISTANBUL - Hürriyet Daily News
ALÄ° BABACAN
Turkey's Deputy Prime Minister Ali Babacan neither denied nor
confirmed pressure on French investment banks in Turkey to leave the
country after the parliamentary approval of a bill on punishing any
denial of Armenian genocide allegations.
`If France continues to insist on the bill, Turkey can launch new
economic sanctions on France,' Babacan said to the Hürriyet Daily
News, telling of the sanction announced by Turkish Prime Minister
Recep Tayyip ErdoÄ?an.
`Turkey's Banking Regulation and Supervision Agency (BRSA) would
smoothly and quietly pass such a message to the banks,' if such a
decision was made, he said on the sidelines of a meeting with Banks
Association of Turkey (TBB) Dec. 23.
Due to the political tension between the countries, Turkey's economic
administration recently asked two French investment banks to end all
their operations in Turkey and leave the country, reported Sabah, a
Turkish daily, Dec. 22.
ErdoÄ?an announced only the first stage of sanctions and there will be
further stages, Babacan said.
`There is no doubt that we will have some sanctions as the bill moves
stage by stage through the French Parliament,' Babacan said. Turkey
would take further actions should France move further to make the bill
a law in the future.
`We have not received any inquiries yet on the issue, but still,
executives are concerned,' a source told the Daily News by phone Dec.
22. The source from a French investment bank active in Turkey was
speaking under the condition of anonymity.
`The claims are baseless,' said Yesim Sözen, an expert from the
banking regulator, in an email response to Daily News questions.
December/24/2011
http://www.hurriyetdailynews.com/deputy-pm-silent-on-pressure-on-lenders.aspx?pageID=238&nID=9906&NewsCatID=344
Dec 24 2011
Deputy PM silent on pressure on lenders
ISTANBUL - Hürriyet Daily News
ALÄ° BABACAN
Turkey's Deputy Prime Minister Ali Babacan neither denied nor
confirmed pressure on French investment banks in Turkey to leave the
country after the parliamentary approval of a bill on punishing any
denial of Armenian genocide allegations.
`If France continues to insist on the bill, Turkey can launch new
economic sanctions on France,' Babacan said to the Hürriyet Daily
News, telling of the sanction announced by Turkish Prime Minister
Recep Tayyip ErdoÄ?an.
`Turkey's Banking Regulation and Supervision Agency (BRSA) would
smoothly and quietly pass such a message to the banks,' if such a
decision was made, he said on the sidelines of a meeting with Banks
Association of Turkey (TBB) Dec. 23.
Due to the political tension between the countries, Turkey's economic
administration recently asked two French investment banks to end all
their operations in Turkey and leave the country, reported Sabah, a
Turkish daily, Dec. 22.
ErdoÄ?an announced only the first stage of sanctions and there will be
further stages, Babacan said.
`There is no doubt that we will have some sanctions as the bill moves
stage by stage through the French Parliament,' Babacan said. Turkey
would take further actions should France move further to make the bill
a law in the future.
`We have not received any inquiries yet on the issue, but still,
executives are concerned,' a source told the Daily News by phone Dec.
22. The source from a French investment bank active in Turkey was
speaking under the condition of anonymity.
`The claims are baseless,' said Yesim Sözen, an expert from the
banking regulator, in an email response to Daily News questions.
December/24/2011
http://www.hurriyetdailynews.com/deputy-pm-silent-on-pressure-on-lenders.aspx?pageID=238&nID=9906&NewsCatID=344