Turks set to invest in crisis-hit Greece and Romania

Turkish firms will boost their investments abroad significantly this year, especially in southeastern European countries such as Greece and Romania, according to a top official at auditing giant Ernst & Young. "I foresee Turkish firms investing about $1 billion abroad through transactions of $50-200 million," said Musfik Cantekinler, Ernst & Young's institutional financing department chief, in a recent interview. Most of these investments will take place in regions neighboring Turkey, especially the Balkans, he added. If certain Turkish firms invest more than $200 million, the total foreign investments from Turkey might be even higher by year's end, he said.