"Norman Pearlstine Talks with Mehmet Sinsek
The Bloomberg Businessweek Chairman interviews Turkey's Finance Minister on why its economy is growing so fast
By Norman Pearlstine
What can Greece, Ireland, and other troubled members of the European Union learn from Turkey?
We didn't put an end to years of crises until we convinced the markets we had a credible program to impose fiscal discipline on ourselves. We significantly reduced the ratio between debt and gross domestic product. We liquidated troubled banks. And we made it clear going forward that we would hold shareholders, bank managers, and, in some cases, their families personally responsible if they caused their banks to fail. Greece, Portugal, Spain, and Ireland, as members of the euro zone, were never really penalized for poor fundamentals. "
More:Norman Pearlstine Talks with Mehmet Sinsek - BusinessWeek
