Erdogan says Turkey’s financial system and economy face no risks
Turkish President Recep Tayyip Erdogan said the situation around a number of funds poses no risks to either the country's financial system or its economy.
Gurban Gurbanzadeh2 min read
Turkish President Recep Tayyip Erdogan said the situation that has developed around a number of funds poses no risks to either the country's financial system or the Turkish economy. He said this while answering journalists' questions in New York's "Turkevi" upon his return from the 81st session of the UN General Assembly.
The president's remark came in response to a question about the so-called "fund crisis" and the course of the investigation, in the framework of which detentions and arrests have already been carried out. According to Erdogan, the issue concerns a problem in a limited segment of the capital markets.
This is a problem that has arisen in a limited segment of the capital markets, in a certain number of funds. That is, there is no risk either to our financial system or to the Turkish economy. Portraying this as a problem of the entire market would be unfair to the Turkish stock exchange. Within the framework of the principles of the capital market and the law, all necessary steps are being and will be taken. Our relevant institutions are decisively dealing with this issue.
The president noted that the judicial authorities have also launched a large-scale investigation and that everyone involved will bear responsibility.
Our justice system has also launched a large-scale investigation; some detentions and arrests have been carried out. It should be known: whoever bears responsibility, they will be held accountable under the law. There must not be the slightest doubt on this matter. No one, for whatever reason, has the right to take part in a race for profit at the expense of misfortune and to alarm our citizens.
Erdogan stressed that the process must be conducted both transparently and with maximum sensitivity, since this is required by the very nature of capital markets. He added that to prevent a recurrence of such a problem, the necessary measures will be implemented, including legal and administrative regulations.
Source: cnnturk.com
