7/7/2010

NYT: Who needs the other one more - Europe or Turkey?

 

Hurriyet - Turkey’s economic performance in the first quarter leaves the EU clearly behind in terms of growth, and in the light of Turkey’s astonishing economic transformation, one should ask the question, “Who needs the other one more - Europe or Turkey?”, according to a recent article published in The New York Times.

 

The article on Turkey’s rising economic power and its implications for the EU states that Europe, with its aging population and debt-weary economies, scored a little more than one percent on the growth scale of the first quarter, while Turkey’s growth surged to 11.4 percent, second only to China. Describing the economic and political rise of Turkey as a “renaissance”, the NYT highlights Turkey’s growing exports and increasing commercial relations with surrounding cash-rich countries such as Iran, Iraq and Russia. “Judging by the fiscal indicators of the last decade, Turkey is a step closer to the EU”, read the article, clearly implying that the EU needs Turkey more than Turkey needs the EU.

Turkey; EU; New York Times; NYT; economic growth; growth rate; Turkey-EU

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