Turkey says acting to halt oligopoly in banking sector

Babacan said meat prices in Turkey were well above those in Europe, adding that meat imports would continue until prices in the country dropped to "reasonable levels."

Turkey says acting to halt oligopoly in banking sector

Turkish economy minister has said the government was working to take a number of measures in a bid to prevent oligopoly in the country's banking sector, adding that the situation of the financial institutions remained as one three major areas of risk in a global economic recovery together with high debt stocks and unemployment rates.

"We will introduce a framework that would prevent oligopoly and create a more competitive environment in the banking sector. The Central Bank and our banking regulation authority are working on it," Ali Babacan told on Tuesday a televised interview on a private Turkish news channel.

Babacan said among the OECD members, Turkey was the only country the global economic recession did not load an additional burden on its banking sector.

Speaking on the taxation system, Babacan said the government's efforts to increase tax revenues by cutting them had failed to prove successful, adding that more strict inspections and sanctions were on the way.

Babacan said meat prices in Turkey were well above those in Europe, adding that meat imports would continue until prices in the country dropped to "reasonable levels."

Babacan said the livestock would be imported from 4-5 countries of government's choice such as Bulgaria and Romania.



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Last Mod: 27 Nisan 2010, 13:59
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