Monday, October 13, 2008
Crisis what crisis?
Long before this crisis Turkish economy was compared with Hungarian economy in terms of public and private debt, and to the Icelandic economy in terms of the interest rates. Both countries are in big trouble after the crisis. If Turkey escapes this without big troubles, I think it is thanks to the liberalization and consolidation of the banking sector after our own crisis. That would mean the cure acted like a vaccine.
Or, it might simply mean that our banking sector were not involved with the kinds of financial devices that triggered this crisis.
I'd be glad if someone could lead me to some sources about the Turkish banking sector, and their involvement with the newer products.