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Tuesday, December 27, 2011

Turkey May Withdraw 15 bln USD Bond Reserves from France for Armenian "Genocide" Bill

Turkey May Withdraw 15 bln USD Bond Reserves from France for Armenian "Genocide" Bill
2011-12-28 01:17:50

Turkey's Central Bank might transfer its 28.8 billion Turkish Liras (15.3 billion U.S. dollars) of investments in French bonds to other European countries as part of sanctions against France for the Armenian "genocide" bill, local media quoted economists as saying on Tuesday.

"Judging from the recent steps taken by the Turkish government and the political tone, I can expect the Turkish Central Bank could withdraw its reserves from France as part of its economic sanctions in the future," Turkish newspaper Hurriyet Daily News quoted Erol Katircioglu, professor of the economics department of Istanbul Bilgi University, as saying.

More:Turkey May Withdraw 15 bln USD Bond Reserves from France for Armenian "Genocide" Bill