Babacan speaks at the high growth markets summit

Speaking at the "High Growth Markets Summit" which was organized by the Economist in London, Turkish Deputy Prime Minister Ali Babacan said yesterday that possibility of a break-up of the eurozone is extremely dangerous for any departing country. "We strongly advise our European friends to demonstrate a stronger sense of solidarity," he said, adding that one country breaking away from the eurozone could lead other countries to breaking way. Touching on the developments in Turkish economy, Babacan said the Turkish economy had grown by 9.2 percent in 2010 and 8.5 percent in 2011, and that that a lower growth was expected this year. Asked whether Turkey was still eager to join the European Union, Babacan said that what was important for Turkey was to be involved in the negotiation process. Babacan also reminded the audience of an article which was published by the Wall Street Journal, indicating that Turkey’s Central Bank would either win the Nobel Prize or go bankrupt. Touching on the issue, Babacan said that it seems it would win the prize soon.