Why Europe would do this, while we have these politic islamists :/
Hopefully It’s not up to them, what a dumb title.
Let’s forget about the technicalities.
I don’t think any nationalist Turkish politician would ever do that since the narrative is that the evil west is constantly trying to control Turkey…. And after adopting the Euro the west actually would.
They can use the euro, but Turkey entering the EU is a passed station.
>in this scenario, the EU would not be underwriting Turkey’s debt, and Ankara would not get a seat on the ECB’s Governing Council until it met all five Maastricht Treaty criteria regarding inflation, budget deficits, government debt-to-GDP ratio, exchange rates and long-term interest rate stability.
>Realistically speaking, Turkey is unlikely to abide by those criteria for at least another decade or two, perhaps even longer. And if and when it does, its representation on the ECB’s Governing Council would be restricted to an observer status, giving it virtually no power over monetary policy.
>In exchange for allowing Turkey to join the EU only monetarily, Brussels should ask for democratic reforms, including the reestablishment of freedom of media (traditional and online), the release of hundreds of journalists and politicians, a monitoring role over Turkish elections, a return to administrative and academic independence in universities and the privatization of state-owned banks to reduce corruption and nepotism.
An interesting look on a French West African Franc-like mandate mechanism.
>In exchange for allowing Turkey to join the EU only monetarily, Brussels should ask for democratic reforms, including the reestablishment of freedom of media (traditional and online), the release of hundreds of journalists and politicians, a monitoring role over Turkish elections, a return to administrative and academic independence in universities and the privatization of state-owned banks to reduce corruption and nepotism.
I can always only laugh at stupid shit like this. If you allow Turkey to join the Euro there is **nothing** stopping them from walking back on all the other stuff they agreed on the next day. We already see this to a certain extend in countries like Poland and Hungary where they just wipe their ass with any agreement or EU law because they know there’s no repercussions.
That would be disastrous for Turkey and eventually EU. 2009 crisis shown that clearly.
There are many ways to manage the currency, including pegs and bands, unfortunately people in Erdogan’s extended family don’t seem to be familiar with them and that’s where he recruits central bankers.
There is no way for Turkey to become an active Euro member, but Turks could use the Euro just like some Western Balkan countries. In other words, Turkey could become a passive Euro member without voting rights and without access to the ECB.
9 comments
Why Europe would do this, while we have these politic islamists :/
Hopefully It’s not up to them, what a dumb title.
Let’s forget about the technicalities.
I don’t think any nationalist Turkish politician would ever do that since the narrative is that the evil west is constantly trying to control Turkey…. And after adopting the Euro the west actually would.
They can use the euro, but Turkey entering the EU is a passed station.
>in this scenario, the EU would not be underwriting Turkey’s debt, and Ankara would not get a seat on the ECB’s Governing Council until it met all five Maastricht Treaty criteria regarding inflation, budget deficits, government debt-to-GDP ratio, exchange rates and long-term interest rate stability.
>Realistically speaking, Turkey is unlikely to abide by those criteria for at least another decade or two, perhaps even longer. And if and when it does, its representation on the ECB’s Governing Council would be restricted to an observer status, giving it virtually no power over monetary policy.
>In exchange for allowing Turkey to join the EU only monetarily, Brussels should ask for democratic reforms, including the reestablishment of freedom of media (traditional and online), the release of hundreds of journalists and politicians, a monitoring role over Turkish elections, a return to administrative and academic independence in universities and the privatization of state-owned banks to reduce corruption and nepotism.
An interesting look on a French West African Franc-like mandate mechanism.
>In exchange for allowing Turkey to join the EU only monetarily, Brussels should ask for democratic reforms, including the reestablishment of freedom of media (traditional and online), the release of hundreds of journalists and politicians, a monitoring role over Turkish elections, a return to administrative and academic independence in universities and the privatization of state-owned banks to reduce corruption and nepotism.
I can always only laugh at stupid shit like this. If you allow Turkey to join the Euro there is **nothing** stopping them from walking back on all the other stuff they agreed on the next day. We already see this to a certain extend in countries like Poland and Hungary where they just wipe their ass with any agreement or EU law because they know there’s no repercussions.
That would be disastrous for Turkey and eventually EU. 2009 crisis shown that clearly.
There are many ways to manage the currency, including pegs and bands, unfortunately people in Erdogan’s extended family don’t seem to be familiar with them and that’s where he recruits central bankers.
There is no way for Turkey to become an active Euro member, but Turks could use the Euro just like some Western Balkan countries. In other words, Turkey could become a passive Euro member without voting rights and without access to the ECB.