Babacan: "We are ready for all scenarios"

Deputy Prime Minister Ali Babacan said that the government was ready for all scenarios. Speaking on a live program broadcast on NTV and CNBC-e, Babacan said, "We have carried out studies related with eight to ten different scenarios. What will our institutions do, how will they respond? These were all put in writing, just like national security documents. These written documents were put in everybody’s drawers just to determine which institution will do what in case anything occurs with regard to world’s economy. Accordingly, none of them is a surprise for us." In response to a question about the issues discussed during the economy summit over at the weekend, Babacan said that global economy and Turkey’s economy were evaluated in general terms. "There are basic principles that we have been following for the last 10.5 years. One of them is the financial discipline. We will never make concessions to financial discipline. Other principals include the monetary policies conducted by our central bank as part of its operational and instrumental independence. Furthermore, the third principle covers structural reforms," Babacan said.