Turkish Press Review, 00-12-07
HR-Net News Distribution Manager
07.12.00
Summary of the political and economic news in the Turkish press this morning
CONTENTS
[01] US SECRETARY OF TREASURY: 'TURKEY'S STABILITY IS IMPORTANT FOR
US'
[02] FROM THE COLUMNS...FROM THE COLUMNS...FROM THE COLUMNS...
[03] ECEVIT ATTENDS EU NICE SUMMIT
[04] SWEDEN SUPPORTS TURKEY
[05] FOGG: "CYPRUS IS THE PRIORITY OF THE EU"
[06] ECEVIT ANNOUNCES THE CONDITIONS OF IMF CREDIT
[07] DEPPLER: "AGREEMENT IS VERY COMPREHENSIVE"
[08] KOHLER: "TURKEY'S DESERVES A VERY STRONG SUPPORT"
[09] US SECRETARY OF TREASURY: 'TURKEY'S STABILITY IS IMPORTANT FOR
US'
[10] OECD: 'TURKEY'S SUCCESS DEPENDS ON THE BANKING REFORM'
[11] PRIVATIZATION START IS DECEMBER 14
[12] THE VALUE OF TURKISH BONDS IN FOREIGN MARKETS INCREASES
[13] PEACE FORCE SUMMIT TO CONVENE
[14] DENKTAS: "UNFICYP ACTS ON ORDERS BY GREEK-CYPRIOT ADMINISTRATION"
[15] ARMENIAN LOBBY'S NEW BREAKTHROUGH
[16] CAKMAKOGLU MEETS WITH HIS GREEK COUNTERPART
[17] ANKARA READY TO MEDIATE
[18] YUCAOGLU: "MARKETS WILL BE BACK ON TRACK IN THE NEW YEAR"
[19] DEMIRBANK'S EX-OWNER SAYS BANK FAILED IN SUPPORT OF PROGRAM
[20] "GEDIZ FRIGATE" PARTICIPATES IN THE TURKISH NAVAL FORCE
[21] TURKSAT 2A TO BE LAUNCHED TOMORROW
[22] KOCBANK RECEIVES SYNDICATION CREDIT
[23] GALATASARAY BEATS PARIS SAINT GERMAN
[24] FROM THE COLUMNS...FROM THE COLUMNS...FROM THE COLUMNS...
[25] EUROPE'S MISTAKE BY IZZET SEDES (AKSAM)
--------------------------------------------------------------------------------
[01] US SECRETARY OF TREASURY: 'TURKEY'S STABILITY IS IMPORTANT FOR
US'
[02] FROM THE COLUMNS...FROM THE COLUMNS...FROM THE COLUMNS...
[03] ECEVIT ATTENDS EU NICE SUMMIT
Prime Minister Bulent Ecevit left for Nice yesterday to attend
the EU Heads of State and Government Summit. Today, Mr. Ecevit
will participate in the European Conference to be held in the
Acropolis congress centrum. Before departing, he said, "During
the European Conference, candidate countries will be informed
about recent developments of planned institutional reforms in the
EU and views will be exchanged for the future of the EU. We hope
the discussions yield positive and encouraging results for
candidate countries." /Turkiye/
[04] SWEDEN SUPPORTS TURKEY
Sweden's Ambassador to the United Nations (UN), the former Deputy
Foreign Minister and member of the European Parliament, Pierre
Schori, said Sweden, which will be the current president of the
European Union (EU) on January, wanted to improve its political
dialogue with Turkey. Schori said, "I don't approve of member
countries' being kept at the EU gate for a long time. Turkey
should be a member of the EU. We need Turkey and we do not want
to see a Berlin Wall on the Straits. /Aksam/
[05] FOGG: "CYPRUS IS THE PRIORITY OF THE EU"
European Commission Turkey Representative, Ambassador Karen Fogg,
said Cyprus continues to be a priority for the EU, eventhough the
statement regarding the issue has been removed from short-term
priorities and put under another heading in the Accession
Partnership Document(APD). Ms. Fogg said fiscal aids would be
suspended if Turkey does not include the ADP points in the
National Program. She said broadcasting in other languages is a
must for a democratic society. Ms. Fogg attended a conference
yesterday at the Middle East Technical University titled "The EU
Enlargement Process and Turkey". Ms. Fogg said a deeper dialogue
should exist between Turkey and the EU to enhance mutual
confidence. Responding to student questions, Ms. Fogg said
broadcasting and education in other languages are completely
different from one another. The first one should exist in a
democratic country, but each government is free to decide on the
education system. /Cumhuriyet/
[06] ECEVIT ANNOUNCES THE CONDITIONS OF IMF CREDIT
Prime Minister Bulent Ecevit announced the conditions of the new
IMF credit to be given to Turkey to compensate $7 billion lost in
the previous two weeks due to the fiscal crisis. Turkey will
benefit from supplementary IMF reserves of 7.450 billion and $2.9
billion within the framework of the stand-by agreement. The World
Bank will approve a loan of $1 billion in December. Further, the
Bank will provide the Banking Regulation and Supervision Board
(BDDK) with a fund of $500 million for facilitating the
restructuring of the state-owned banks. The supplementary reserve
credits will be given to Turkey in a one-year period and
repayment will begin after 18 months, which is considered
unfavorable. Mr. Ecevit explained the conditions of the IMF
credit. Turkey will quicken the privatization process, especially
of Turkish Airlines and Turk Telekom. Privatization gains will be
used to finance the budget deficit. Mr. Ecevit said in order to
eliminate the fiscal crisis, measures will be taken to strengthen
the banking sector, to decrease the inflation and to increase the
inflow of foreign exchange by way of privatization. /Cumhuriyet/
[07] DEPPLER: "AGREEMENT IS VERY COMPREHENSIVE"
International Monetary Fund's (IMF) Chairman to the European
Part, Michael Deppler, said he was very pleased that a consensus
was reached with Turkey on the very comprehensive policies.
Deppler speaking at a press conference held at the Prime Ministry
said, "The banking sector is very important in terms of the IMF's
work with Turkey. Within the framework of the loan to be extended
to Turkey, $ 7.5 billion US will be extended as part of a
reserve. $ 2.9 billion US of this loan will be given within the
framework of the stand-by agreement. "IMF officials will stay in
Turkey a few more days and they will continue working on the
technical details of the program." Deppler then gave information
on the loan details adding that the agremeent was very
comrehensive. /Sabah/
[08] KOHLER: "TURKEY'S DESERVES A VERY STRONG SUPPORT"
Director of the Executive Board of the International Monetary
Fund (IMF), Horst Kohler, said, "I welcome Prime Minister Bulent
Ecevit's statement. The comprehensive, additional measures
package shows Turkey's determination and leadership in solving
its present economic and fiscal problems." In addition, Kohler
issued a written statement in Washington concerning the IMF's aid
package to Turkey: "The strengthened program is based on the
improvement achieved concerning the fight against inflation and
financial consolidation. The continuing agenda of structural
reform and privatization is going forward. I am particularly
pleased with the Turkish government's determination to increase
the banking sector's firmness and to struggle against the current
problems. I appreciate the strong measures taken to protect the
deposit owners and the other creditors of the Turkish banks. The
package of comprehensive and strengthened policies should establish
the basis to rebuild confidence and to continue Turkey's economic
growth. This program deserves international support and,
therefore I will request the Executive Board of the IMF to
provide Turkey with a loan amounting to more than 10 billion US
dollars." /Sabah/
[09] US SECRETARY OF TREASURY: 'TURKEY'S STABILITY IS IMPORTANT FOR
US'
The US welcomed the consensus reached on extending the economic
aid package of $ 10 billion US to Turkey, saying Turkey's
financial stability was very important. US Secretary of Treasury
Lawrence Summers gave a statement saying they were expecting
Turkish officials to take the vitally important steps to restore
confidence and financial stability as soon as possible. The
International Monetary Fund's (IMF) loan portion of $ 7.5 billion
is being ensured by short-term loan opportunities for
countries in crisis, and the $ 2.9 billion portion will be
given as part of the stand-by agreement. In his statement,
Summers added, "The US also welcomes the suggestion concerning
the strengthened reform structure. Turkey's financial stability
is very important for the US." /Sabah/
[10] OECD: 'TURKEY'S SUCCESS DEPENDS ON THE BANKING REFORM'
Experts from the Organization for Economic Cooperation and
Development (OECD) consider the success of 'rescue plan', started
by Turkey with the support of the International Monetary Fund
(IMF) to solve Turkish government's financial crises, which is
dependent upon the banking reform. OECD's Chief to the Turkish
Desk, Robert Price recalled that a consensus was reached between
Ankara and the IMF to solve the financial fluctuation in Turkey
and said, "Real reform is necessary so the rescue plan can be
successful. The Central Bank should also continue its monetary
policy. The most important obstacle for Turkish officials is
providing the banks, which are being restructured, with cash. The
first thing to do the in the short term is to support the cambio
value of the Turkish lira." /Sabah/
[11] PRIVATIZATION START IS DECEMBER 14
Prime Minister Bulent Ecevit announced the dates for the tender
of major state-owned companies. The tender of Turk Telekom will
be announced by Dec.14. 35% of the total shares will be sold
through the tender. The strategic investor will also get the
executive control of the company. The Privatization
Administration Board (OIB) will announce the date of the tender
to sell shares of 51% of Turkish Airlines by Dec.14. The draft
law on the privatization of electricity production will be
submitted to the National Assembly by Dec.14. The law will be put
into effect by the end of January 2001. /Hurriyet/
[12] THE VALUE OF TURKISH BONDS IN FOREIGN MARKETS INCREASES
After the IMF announcement that it will give a supplementary
support credit totaling $10.4 to Turkey, the shares of foreign
financial institutions invested in Turkish bonds have increased,
following an increase in the value of Turkish bonds. The Russian
Stock Exchange also went up after the announcement. /Hurriyet/
[13] PEACE FORCE SUMMIT TO CONVENE
The Turkish Republic of Northern Cyprus (TRNC) and the
Greek-Cypriot Administration will be invited to the United
Nations' (UN) Security Council to solve the disagreement
concerning the extention of the UN Peace Force's (UNFICYP)
mandate. The Greek-Cypriot Administration had previously not
accepted the TRNC's involvement in the negotiations concerning
the UNFICYP's term period. UNFICYP's term period will end on 15
December 2000. /Aksam/
[14] DENKTAS: "UNFICYP ACTS ON ORDERS BY GREEK-CYPRIOT ADMINISTRATION"
The President of Turkish Republic of Northern Cyprus, Rauf
Denktas, said it is not possible to accept the UN Peace Force
(UNFICYP) acting in accordance to the orders given by the South
Cyprus administration. Mr. Denktas said the working conditions of
the UNFICYP should change. Mr. Denktas said, "Nobody should
expect that Turkish-Cypriots will approve the UNFICYP's existence
under the orders of a fake Greek-Cypriot government that acts as
if it was the legitimate government of the whole island."
/Cumhuriyet/
[15] ARMENIAN LOBBY'S NEW BREAKTHROUGH
The Armenian lobby is worried that a pro-Turkish representative
from Nebraska, Doug Bereuter, may become the Chairman of the
House of Representatives International Affairs Committee.
Reportedly, if he becomes the chairman, Bereuter is planning to
abolish the International Relations and Human Rights
Sub-committee which played a key role in moving ahead the
Armenian bill in Congress. Issuing a statement, the American
National Committee for Armenians (ANCA) called on the Armenian
society in the US to act to save the committee. /Turkiye/
[16] CAKMAKOGLU MEETS WITH HIS GREEK COUNTERPART
Following NATO meetings in Brussels, Minister of National
Defence, Sabahattin Cakmakoglu, met yesterday with Greek Minister
of Defence, Akis Cohacopulos, at the request of the NATO
Secretary-General, George Robertson. The two ministers discussed
bilateral relations and Confidence Building Measures. Mr.
Cakmakoglu then visited the Gent province and met with Turkish
society's representatives. /Turkiye/
[17] ANKARA READY TO MEDIATE
An article in the Italian "La Repubblica" newspaper said Turkey is
planning a summit to bring Israeli and Palestinian authorities
together. The article asserted that Israeli Prime Minister Ehud
Barak sent a dialogue signal to Palestinian Head of State Yasser
Arafat and Ankara is ready to mediate. /Turkiye/
[18] YUCAOGLU: "MARKETS WILL BE BACK ON TRACK IN THE NEW YEAR"
President of the Turkish Industrialists' and Businessmen's
Association (TUSIAD), Erkut Yucaoglu, said financial markets will
stop fluctuating and everything will be back on track in the new
year. Mr. Yucaoglu presented a report prepared by TUSIAD titled "
A Comparison of Per Capita Income and Poverty in Turkey with the
European Union" at a press conference. Mr. Yucaoglu said TUSIAD
regards the IMF agreement positively. He said $7.5 billion which
will be loaned by the IMF for implementation of the stabilization
program is enough. The credit will provide the Central Bank with
an opportunity to accumulate foreign exchange reserves and this
will give flexiblity to the financial sector. /Cumhuriyet/
[19] DEMIRBANK'S EX-OWNER SAYS BANK FAILED IN SUPPORT OF PROGRAM
Demirbank, placed under the Deposit Insurance Fund administration
yesterday, became insolvent due to its support of the
government's disinflation program as well as a reduction in bond
yields, its former owner announced yesterday. Halit Cingillioglu,
also the owner of Cingilli Holding, said Demirbank was one of the
biggest supporters of the ongoing stabilization and disinflation
program. /Turkish Daily News/
[20] "GEDIZ FRIGATE" PARTICIPATES IN THE TURKISH NAVAL FORCE
The "Gediz Frigate" donated to Turkey as a form of military aid
by the US, joined the Turkish Naval Force with ceremony. She left
from San Diego Harbour Sep. 1st, 2000 with her crew of 218. The
frigate has a high firing capacity and can carry two helicopters.
/Turkiye/
[21] TURKSAT 2A TO BE LAUNCHED TOMORROW
Turkey's third satellite Turksat 2A will be launched tomorrow
from French Guiana in South America. The construction of the
satellite at a cost of $300 million, began in 1997. 75% of the
project was carried out by Turk Telecom. After the launching, the
number of avaible channels for Turkish broadcast will be 66.
/Turkiye/
[22] KOCBANK RECEIVES SYNDICATION CREDIT
Kocbank received a one-year credit of $220 million from
international financial markets. Kocbank had also received a
five-year credit of $300 million Nov.27. /Cumhuriyet/
[23] GALATASARAY BEATS PARIS SAINT GERMAN
Galatasaray beat its Parisian rival, Paris Saint German by 1-0 at
Ali Sami Yen Stadium in Istanbul yesterday. Galatasaray seized
numerous opportunities against its strong rival. This match has
put them into the quarter final. /Aksam/
[24] FROM THE COLUMNS...FROM THE COLUMNS...FROM THE COLUMNS...
[25] EUROPE'S MISTAKE BY IZZET SEDES (AKSAM)
Columnist Izzet Sedes comments on relations between Turkey and
the EU. A summary of his column is as follows:
"One of the most difficult EU summit meetings will be held in
Nice, France today. The meeting of 15 heads of state and
government will end with an important agreement, similar to that
of Maastricht. The most important issues discussed will be
reforming on the working style of the EU before the admittance of
Cyprus, Poland, Hungary, Czech Republic, Slovenia and Estonia to
the Union, and later, the participation of Malta, Central and
Eastern European and Balkan countries and finally Turkey in the
EU. All the partners agree that an EU with 28 members cannot work
in the same manner it did with only 15 members. However, they
differ on the methods of change.
The smaller European countries with a lower population, such as
Luxembourg, Belgium, Holland, Denmark, Sweden, Ireland, Finland
and Austria fear the hegemonyof the larger states such as
Germany, France, Italy and United Kingdom in the Union.
Therefore, it is believed that enlargement will not be possible
before carrying out reforms.
At this time the Director of the Turkish Economic and Social
Studies Foundation (TESEV), Ambassador Ozdem Sanberk, invited the
Swedish Ambassador to the UN and European Parliament member,
Pierre Schori, to Turkey. A solution to improve relations between
Turkey and the European Parliament, which is noted for its
negative intervention on issues concerning Turkey is being
searched for. Swedish EU member, spoke yesterday to the issue on
a panel also attended by Istanbul deputy Bulent Akarcali and
Ambassador Gunduz Aktan. According to experienced diplomats the
improvement of relations is not impossible but Turkey has to
fulfill the required conditions put down in the Accession
Partnership Document. Mr. Schori was insistent on the matter and
did not refrain from saying that if Turkey did not carry out the
Helsinki Declaration requirements, it could not be an EU partner.
Akarcali and Aktan gave examples demonstrating that the EU did
not act with good intentions from the start and avoided
cooperation with Turkey. Schori, who said he partially agreed
with these denunciations, explained what Turkey must do in the
future.
According to the Swedish diplomat, Turkey cannot act by saying 'I
did it my own way'. Turkey is no Frank Sinatra. There are common
European values, understandings, and basic political,
administrative and economic issues agreed upon by all. Every
country which wants to be an EU member must comply with them.
Schori, in answer to questions said, the same things were asked
from Turkey and Greece to establish an agreement on Cyprus. For a
solution to be found, the Eastern Mediterranean has to be a
region of peace and economic cooperation. Responding to another
question, he said he believed that Kurdish education was
inevitable. The issue was concerned with cultural freedoms and
Schori said this was a natural implementation in EU countries.
It won't be easy to enter the EU. Although we have not been able
to teach Turkish to many of our citizens, Europe is mistakenly
asking for Kurdish education. I asked Mr. Schori if education in
Alsatian and Basque languages was required from either Spain or
France. He did not answer. He probably forgot."
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