Macroeconomic Policies for EU Accession

Macroeconomic Policies for EU Accession

Edited by Erdem Başçı, Sübidey Togan and Jürgen von Hagen

What macroeconomic requirements must Turkey meet in its quest to accede to the European Union? This book, with its distinguished contributors – well-known economists and policymakers – examines and analyses these macroeconomic challenges confronting Turkey. Although the focus is on the specific situation of Turkey, the lessons are informative for other candidate countries and the findings directly relevant to the process of European integration.

Chapter 1: Opening Remarks

Süreyya Serdengeçti and Anne O. Krueger

Subjects: economics and finance, financial economics and regulation


Süreyya Serdengeçti and Anne O. Krueger SÜREYYA SERDENGEÇTI Rector Dog ramacı, Director Vorkink, Distinguished Academicians, ˘ Bureaucrats, Guests. I would like to welcome you all to this two-day conference on Macroeconomic Policies for EU Accession. I would also like to thank Bilkent University and the University of Bonn for joining the Central Bank of Turkey in organizing this very important conference. I would like to just make some brief remarks. I will start by making two important points, which are important at least for me. The first one is about the fact that in this country, as we are all very aware, EU accession has always been a long-term goal. In the accession process, we have to recognize the significance of the 17 December 2004 summit. I will be very short in presenting my view on the significance of that particular date by borrowing the words of Sir Winston Churchill. On 10 November 1942, after the victory at El Alamein that changed the course of the Second World War, he said ‘This is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning.’ Personally, I think this is exactly how we should envisage the 17 December 2004 summit; it is the end of the beginning. The second point I want to make is about the whole process leading to the eventual membership of Turkey of the European Union. The eventual membership will depend on...

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