Greek crisis might 'indirectly affect Turkey's economy: Babacan

Turkish Economy Minister Babacan said a debt crisis in Greece might have "indirect effects" on Turkey's economy.

Greek crisis might 'indirectly affect Turkey's economy: Babacan

Turkish Economy Minister Ali Babacan on Saturday said a debt crisis in Greece might have "indirect effects" on Turkey's economy, citing his country's "relatively isolated" position against the Euro zone.

"An economic slowdown in the Euro zone may affect our exports as one might argue because the demand in the EU will go down. Our financial sector has no intricate ties with euro countries," Ali Babacan told reporters after a meeting in Istanbul.

Babacan said Turkey's public finance system and its financial sector had become much safer but the country would "feel more or less if an economic storm breaks out."

"The important thing is that Turkey retains its position better other countries, and everyone believes that it will," Babacan said.

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Last Mod: 08 Mayıs 2010, 18:58
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