Turkey’s accession

Although, according to a rather reliable survey in 2012, a majority of the Turkish population was apparently opposed to their country’s accession to the EU, the leading business associations are in favor of it. At many levels – including in the financial sector – there are currently (end of 2013) various efforts to align Turkish national legislative, administrative and judicial systems with the current regulations established in the EU. The EUR plays a role as a secondary currency in Turkey, at least in some areas. In the long term, Turkey’s accession to the EU is considered highly probable. – See G20 Ministers and Central Bank Governors, Region, euro-determined, Sermaye Piyasasi Kurulu, Twinning. – See ECB Monthly Report, November 2012, pp. 102 f. (analysis of the Turkish Central Bank’s policy; overview), BaFin Annual Report 2012, pp. 153 f. (cooperation with the Turkish supervisory authority).

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
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