Turkey won't prosper without sound policies, regardless of EU membership
October 17, 2004
The issue of Turkish membership in the EU has always been reminiscent of Mark Twain's quip on the climate: "Everybody talks about the weather, but nobody does anything about it."
There's been a lot of talk about Turkish accession, but little action. And maybe there are good reasons for that. In reality, what Turkey needs is sound economic policies, instead of EU membership.
Last week, Turkey won approval from the European Commission to start talks on joining the EU. "It is a qualified yes," says Romano Prodi, the commission's president.
Does that mean it's time to start reviewing Turkish assets? If the country is going to join the EU, shouldn't you be piling into Turkish stocks and bonds? And tucking a few Turkish liras away for the day they can be swapped into solid euros?
More: Business Report - Turkey won't prosper without sound policies, regardless of EU membership