Babacan says Turkey to implement more inspections

Speaking to reporters at the annual meetings of World Economic Forum (WEF) in Davos on Thursday, Deputy Prime Minister Ali Babacan said that Turkey was not planning any shift in rates, but would only implement more inspections. "We will by no means change the taxing rates in a bid to collect more from the ones with higher income or ones with more assets. We have seen the negative side [effects] of this in France," Babacan said. Stating that the threat of another global economic crisis has been reduced, Babacan said, "It has become clear that Europe will not allow Greece to go bankrupt. In 2013, risks will be further reduced. We hope the governments will manage this process well. The risk of a global crisis caused by a fall in Europe has decreased. The US will also solve its problems with the debt ceiling. But we are watching Japan very closely. There are still risks in Japan, and a problem there could easily affect the whole world."