Babacan compares euro zone crisis with consequences of the World War II

 

Attending to Sixth Turkey Sectoral Economy Council meeting held at the twin towers of the Union of Chambers and Commodity Exchanges of Turkey (TOBB) in   Ankara yesterday, Deputy Prime Minister Ali Babacan has compared the euro zone crisis cost with the financial consequences of the World War II for the globe.  "Developed countries' debts had not risen as much as this since World War II. The cost of the crisis is at the same level with the World War II, or it may even surpass it,” Babacan said, adding that the growth rates of developing countries were also revised as decreasing, despite the fast growth after the 2009 crisis. "It is anticipated to recover the rates after 2016,” he said. Babacan stated that according to the report of OECD, Turkey would rank first in growth rate among OECD countries in the 2011 to 2030 period. Meanwhile, Tunisian Prime Minister Hamadi al-Jabali also attended to the meeting. Speaking at the meeting al-Jabali said that he was honored and pleased to be in Turkey.  "We thank the Turkish people for their support to Tunisia and the Tunisian people. We try to carry our relations to the highest quality and figures possible. We are pleased with the developments in bilateral relations. Our horizons in this matter will always be wide. We need to increase contacts to develop common interests," al-Jabali said, adding that Turkey provided  a loan of 500 million USD to Tunisia and that much technical assistance from Turkey reflected on the Tunisian life.