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Anadolu Agency: News in English, 01-01-12

Anadolu Agency: News in English Directory - Previous Article - Next Article

From: The Anadolu Agency Home Page at <http://www.anadoluajansi.com.tr/>

Anadolu Agency

ANADOLU AGENCY

NEWS

12 JANUARY

2001 Friday


CONTENTS

  • [01] TURKEY-PRESS SCAN
  • [02] STATE MINISTER GUREL:

  • [01] TURKEY-PRESS SCAN

    These are some of the major headlines and their brief stories in Turkey's press on January 12, 2000. The Anadolu Agency does not verify these stories and does not vouch for their accuracy.

    HURRIYET (LIBERAL)

    GENERAL STAFF PUTS THE LAST POINT
    General Staff issued a statement on Thursday and said, ''despite the fact that the operation is against corruption, connecting the debate to the armed forces which have no connection to the issue, has caused serious discomfort in the armed forces.'' The statement also said efforts to destroy army by making policy over the Turkish Armed Forces, was an approach that is not for the benefit of the country.

    TURKISH SEAL TO GIANT PROJECT
    Turkish Aviation and Space Industry (TAI) will produce A-400M, which is the biggest cargo plane of the world. TAI became a partner of the AMC with nine percent to produce the A-400M which is one of the most important projects of the world aviation industry. TAI also undertook 11.6 percent production share.

    MILLIYET (LIBERAL)

    GENERAL STAFF ANSWERS THE GOVERNMENT
    The General Staff harshly reacted the statements of Premier Bulent Ecevit and Deputy Prime Minister Mesut Yilmaz concerning the operation into illegal practices in energy tenders. General Staff asked clarification from Ecevit who said if those who are responsible are not revealed and necessary procedures were not applied, those who desire for a dictatorship regime, can go for their desire, and start provocations. The General Staff said the ''commander'' in guestion cannot be found in spite of fastidious investigations. If a clear information is given about those who cannot digest democracy, legal procedures can be made, it said.

    Responding to the statements of Mesut Yilmaz who said that the corruption cases increase in military regime because the darkness prevails then, the General Staff said ''it is a slander that the biggest corruption cases belonged to the military period. Those who really miss darkness are those who try to pacifize the struggle of the General Staff against corruption.''

    TWO POLITICAL MESSAGES FROM THE MILITARY
    The Commander of War Academies: ''We are happy from the candidacy for European Union (EU) membership, but the EU countries are not happy like us.''

    Commander of Armed Forces Academy: ''They want to divide Turkey with the articles on 'broadcast and education in mother tongue'.''

    SABAH (LIBERAL)

    AMNESTY IS ON THE AGENDA OF THE CONSTITUTION
    Many applications came to the Constitutional Court from all around Turkey to widen the scope of the amnesty. The ''rapporteur,'' of the Supreme Court examined these applications. The Constitutional Court will convene on Monday and discuss the applications made so far.

    START TO ENKA ENERGY POWER PLANT
    The foundation of the Izmir Aliaga natural gas power plant, which will be jointly made by ENKA holding and the U.S. InterGen with build-operate- transfer model, will be laid on January 20. Sarik Tara, the chairman of Enka Holding said, ''we will contribute to the efforts to overcome energy shortage with the investments that will produce 31.4 kilowatt/hour energy.''

    CUMHURIYET (LEFT)

    GEN. SENOGUL: ''EU IS PREJUDICED OVER TURKEY''
    Gen. Nahit Senogul, the Commander of the War Academies, said there was not any European Union country supporting Turkey's membership to the European Union (EU). Stressing that Turkey desired the EU membership, Gen. Senogul said, ''however, some of the EU member countries are prejudiced over Turkey and are always included in activities against Turkey.''

    TURKISH-GREEK ENGINEERING SEMINAR
    The Turkish-Greek joint engineering seminar on damage assesment works in constructions following the earthquake and the repair started in Istanbul on Thursday. The seminar is jointly being held by the Istanbul branch of the Turkish Engineers' Chamber and Greek Technical Chamber.

    Six experts from Turkey and Greece and four experts from the U.S. are attending the seminar held by the contributions of the Bogazici University Kandilli Observatory Center and Seismology Institute. The seminar will last for two days.

    RADIKAL (LEFT)

    JUSTICE MINISTER TURK SAYS THERE WOULDN'T BE ANY NEGOTIATIONS WITH
    DEATH FASTING INMATES
    Justice Minister Hikmet Sami Turk said they expect that the death fasts ongoing in the prisons would come to an end, adding that they wouldn't make any negotiations with the inmates. Recalling that some circles were expecting them to meet with the death fasting inmates, Turk stressed that the negotiation process had ended before the operations in the prisons. Turk said the negotiations with the death fasting inmates could negatively affect the process, adding that the only thing they could do at the moment was to provide medical support to the death fasting inmates.

    EROGLU, PRIME MINISTER OF TRNC SEEKS MORE FINANCIAL SUPPORT FROM
    TURKEY

    Dervis Eroglu, the Prime Minister of Turkish Republic of Northern Cyprus(TRNC), in his current visit to Ankara asked for more financial support from Turkey. Eroglu who paid a visit to Premier Bulent Ecevit asked an increase in 350 million U.S. dollars of loan that will be given to TRNC. Eroglu said in the meeting they mainly discussed the recent economic situation in TRNC.

    TURKIYE (RIGHT)

    BOYCOTT TO FRANCE
    Difficult days are waiting for 200 French companies if the Armenian resolution is adopted. Sinan Aygun, the Chairman of the Ankara Chamber of Trade (ATO), said, ''we should review our relations with France if the resolution passes from the parliament because Turkey is a country which makes significant importation from France.''

    France ranks the first in foreign capital in Turkey with 5.4 billion U.S. dollars. Turkey exports automotive and sub-industry, iron and steel, chemicals and optical equipments from France.

    BAHCELI: ''THEY ARE TRYING TO BESIEGE TURKEY''
    Deputy Prime Minister Devlet Bahceli said some circles were trying to besiege Turkey with the allegations of so-called genocide on the Armenians in recent years. ''But, everybody will see that these efforts will not give any result,'' he noted.

    ZAMAN (CONSERVATIVE)

    THE 30 CONDITIONS OF THE IMF
    The International Monetary Fund (IMF) delegation, in the first visit of the year 2001, calls for more than 30 economic conditions, measures and commitments from Turkey within the scope of the third intent letter given on December 18. The IMF expects Turkey to fulfil 10 conditions, commitments and performance criteria in banking, 12 in public finance, four in privatization, four in energy, and eight in agricuture.

    NO BARGAINING WITH THE INMATES
    Justice Minister Hikmet Sami Turk said it was impossible to return to ward system in prisons. Turk said, ''returning to ward system again and bargaining on F type prisons will not be brought to the agenda.''

    Responding to the questions of reporters asking for the recent situation in prisons, Turk said sub-commission, set up by the Parliamentary Human Rights Commission, visited Sincan, Edirne, and Kocaeli F type prisons, and noted that they would make a statement in the coming days.

    -TRNC DELEGATION LEAVES FOR ANKARA TO
    ATTEND TURKEY-TRNC PARTERNSHIP COUNCIL MEETING
    LEFKOSA - The Turkish Republic of Northern Cyprus (TRNC) delegation left for Ankara on Friday morning to attend Turkey-TRNC Partnership Council meeting.

    Mehmet Bayram, the economy and finance minister of the TRNC, who also acts as the co-chairman of the Partnership Council, said the decisions that will be taken at the meeting will contribute the TRNC to stand on its feet.

    Pointing out that technical works were completed on January 10, and that the issues would be discussed on high level today, Bayram said those issues would help the TRNC to progress in social, economic and cultural fields.

    The TRNC delegation is expected to return on Saturday.

    -BLINKEN, THE U.S. NATIONAL SECURITY COUNCIL EUROPE DIRECTOR
    SAYS IMPORTANCE OF TURKEY FOR THE U.S. IS AN ISSUE SURPASSING
    POLITICAL PARTIES
    WASHINGTON D.C. - Antony Blinken, the U.S. President Bill Clinton's National Security Council European Affairs Director, said on Friday that they expected George Bush administration, which will take over the White House on January 20, to cover a policy toward Turkey in line with the Clinton administration.

    Blinken staged a news conference and conveyed the policy which the Clinton administration covered in Europe.

    When asked if a change was expected in the U.S. policies in the new president Bush period toward Turkey, Blinken said Turkey was a very important country for the U.S. and noted that Turkey's importance for the U.S. was an issue surpassing political parties. Blinken said the Clinton administration worked hard to turn the relations into the position of strategic partnership, adding that he thought Bush administration would be in favor of maintaining these positive relations.

    Pointing out that Turkey carried importance due to its geographical position and the surrounding regions which create difficulties, Blinken said Turkey, being a Moslem and secular country, forms a model to the other countries in the region. Blinken said policies in the U.S. toward Turkey would not change when all these are taken into consideration.

    Responding to a question about the European Union (EU)'s European Security and Defense Identity (ESDI) initiative, Blinken said Turkey and the other non-EU NATO members should have their voices in this initiative. He said it was out of question for Turkey to vote as it was not a member of the EU, yet noted that it is of vital importance that an important ally like Turkey should make its voice heard in the decision making mechanism.

    Blinken said the EU should give strong guarantees to the participation of such countries.

    Responding to another questions, Blinken said no change was expected in Bush administration regarded with Baku-Ceyhan, and noted that any policy change would make him amazed.

    Stressing that he would not be able to speak on behalf of the Bush administration, Blinken stressed that Baku-Ceyhan project was in favor of the U.S. and the regional countries as well as Turkey.

    Blinken said they stressed the importance of projects like Baku-Ceyhan in texts they prepared for the Bush administration.

    Blinken said the Clinton administration, from the very beginning, opposed to the draft resolution on so-called genocide on Armenians, feeling that this issue should be left to the historians, not to a legislation organ.

    Blinken said he thought the draft resolution would be brought to the agenda in the near future, noting that it was a very difficult issue, and that a compromise should be reached leaving the issue to the academicians and experts of the two countries. He said Turkey was a very important country having influence in the region, and stressed that most of the responsibility belonged to Turkey.

    Responding to a question, Blinken said they were suprised over Turkey's attitute in appointing an ambassador to Iraq. Blinken said Iraq did not fulfil its commitments to the U.N. for ten years, and stressed that these commitments should continously be reminded to Iraq.

    Blinken said they expected the ambassador, who was appointed to Iraq, to remind it at least its international responsibilities.

    Pointing out that an extraordinary progress was recorded in Turkish-Greek relations in 8-year Clinton administration, Blinken said leaders of the two countries are aware of the fact that this cooperation is in their favor.

    Blinken said he wished he would have said that progress was recorded in efforts to find a solution on Cyprus, and noted that although the proximity talks slightly lessened differences, no progress could be obtained on essential issues. He said solution on Cyprus would also be for the benefit of Turkey and Turkish Cypriots.

    -PRIVATIZATION OF TURK TELEKOM
    -INVESTORS START TO BUY TENDER SPECIFICATIONS
    ANKARA - The investors who want to submit bids for the block sale of 33.5 percent of the shares of Turk Telekom started on Friday to buy tender specifications.

    Officials of the Privatization Board said that they cannot announce the number of investors who have taken the tender specifications for the time being.

    The officials noted that the investors can get the tender specifications in return for 15 thousand U.S. dollars.

    The privatization process for the Turk Telekom had started by the announcements made on December 14, 1999.

    The potential investors will be chosen among the investors who buy tender specifications. When choosing the potential investors, the investors who comply with the features listed by the Council of Ministers will be taken into consideration.

    Technical meetings with the commission concerned with the tender conditions will be held.

    In the end of the verbal and vocal consultations, the final tender conditions will be fixed.

    The deadline to submit the bids is May 14, 2001.

    Firstly, the plans prepared by the investors will be examined and then the financial bids will be evaluated.

    In the end, two investors who give the highest bids will be invited to auction and the tender will technically be concluded.

    As the Competition Board, the Council of Ministers and the President approves the result, the tender will legally be concluded.

    -FINANCE WORLD CHOOSES PREMIER ECEVIT AS POLITICIAN OF 2000
    ISTANBUL - The Finance World magazine chose Premier Bulent Ecevit as the ''Politician of the Year'' in Turkey.

    The Finance World magazine organizes a survey to choose the best politician, bureaucrat, financial bureaucrat, businessman, professional manager, academician, and economy writer of the year.

    Below listed the whole categories of the survey and the winners:

    Politician of the Year: Premier Bulent Ecevit

    Bureaucrat of the Year: Treasury Undersecretary Selcuk Demiralp

    Financial bureaucrat of the Year: Is Bank General Director Ersin

    Ozince

    Businessmen of the Year: Mehmet Emin Karamehmet, the chairman of

    Cukurova Group

    Professional Manager of the Year: Cuneyt Turktan, the General

    Director of Turkcell

    Academician of the Year: Professor Gulten Kazgan

    Economy Writer of the Year: Ercan Kumcu.

    -TALKS ON ATTACK HELICOPTER PROJECT SPEED UP
    ANKARA - Talks between the Defense Industry Undersecretariat, Tusas Aviation and Space Industry Corp. (TAI) and American Bell company on the attack helicopter project (ATAK) have intensified.

    According to a written statement released by Tusas Aviation and Space Industry Corp. (TAI) on Friday, the ATAK project will be a solid proof of the Turkish Defense Industry's success in the aviation field.

    The statement also pointed to TAI's previous F-16, CN-235 Light transportation plane and FF-260 Training plane projects.

    ''TAI proved that it is a world wide power in airplane production,'' the statement said. It was also pointed out that TAI has complete helicopter production, mechanic repair, modernization, design and development skills. ''As a result of its activities which started in 1996, TAI, as the main contractor, believes that it will meet the Turkish Armed Forces' expectations,'' the statement said.

    -MIGROS TO OPEN THIRD SHOPPING STORE IN MOSCOW
    ISTANBUL - Migros company will open its third big shopping centre in Moscow on January 18.

    Migros opened 450 stores last year, 33 in Turkey and 17 abroad. The shopping center will be the eighth store in Moscow owned by Migros.

    Ramstore which already exists in north and east of Moscow will now open in south Moscow which is the most crowded area of the city.

    The store will have four movie halls, a playground, stores and a food court for 500 people.

    Ramstores introduce Turkish products to the Russian market and it also develops trade relations between Turkey and Russia.

    Istanbul Mayor Ali Mufit Gurtuna, Koc Holding Chairman Rahmi Koc, Enka Holding Chairman Sarik Tara and Moscow governor are expected to attend the opening ceremony.

    -TOTAL OF 14,890 ILLEGAL IMMIGRANTS CAPTURED IN EDIRNE LAST YEAR
    EDIRNE - A total of 14,890 illegal immigrants were captured in northwestern Edirne province in 2000.

    Officials told A.A correspondent on Friday that the illegal immigrants who were from Iran, Iraq, Pakistan, Bangladesh, Algeria, Afghanistan and Morocco, were brought to Edirne in return for a thousand U.S. dollars per person by the human smugglers.

    The officials said that the security forces captured 14,890 illegal immigrants who wanted to sneak from Ipsala, Meric, Enez and Uzunkopru townships of Edirne to Bulgaria and Greece.

    A total of 272 illegal immigrants were deported from Kapikule Border Gate, 197 of them were deported from Habur Border Gate, 66 from Gurbulak Border Gate, four from Pazarkule Border Gate, three from Ataturk Airport, three from Sarp Border Gate, and two from Cilvegozu Border Gate, the officials pointed out.

    The officials said that the illegal immigrants generally enter into Turkey from the Southeastern or Eastern Anatolia regions, adding that they proceed to Edirne by paying a thousand U.S. dollars per person.

    -TUNABOYLU, BANKS UNION CHAIRMAN:
    -''CARRYING OUT AN INTERNATIONAL CONTROL DEPENDS ON THE
    REHABILITATION OF THE SECTOR AS SOON AS POSSIBLE''
    ISTANBUL - Osman Tunaboylu, the Chairman of the Turkish Banks Union and the General Director of Ziraat Bankasi, said on Friday that carrying out an international control depends on the rehabilitation of the sector as soon as possible.

    Attending a meeting with the administrators of the economic press in Istanbul, Tunaboylu said that starting an international control and supervision process without a transition period can cause problems in both the financial and real sector.

    Tunaboylu noted that the target of the banking sector is to become a sector which operates in accordance with the international norms and standards, the credibility of which is accepted throughout the world, which is transparent, and which is open to the international competiton.

    The basic condition to reach this target is to overcome the inflation, Tunaboylu emphasized.

    Tunaboylu said that the banks and the Turkish Banks Union support the stability program.

    Besides the disinflation program, the state and the banks undertake responsibilities to reach the target of the banking sector, Tunaboylu stated.

    Tunaboylu said that all the banks, particularly the banks which were transferred to the Savings Deposit Insurance Fund and the public banks, should be rehabilated in accordance with the international norms and standards.

    The Banks Union thinks that a transition period is necessary to start an international control and supervision process, Tunaboylu noted.

    Tunaboylu added that in this transition period, the banks should increase their capital, find new partners, strengthen their financial structures, and take measures against their narrowing profit margins.

    [02] STATE MINISTER GUREL:

    -''WE WILL EXERT ALL THE EFFORTS TO MAKE TRNC A TOURISM,
    EDUCATION AND TRADE CENTER IN ITS REGION''
    ANKARA - State Minister Sukru Sina Gurel said on Friday that Turkey will exert all the efforts to make Turkish Republic of Northern Cyprus (TRNC) a tourism, education and trade center in its region.

    Gurel and TRNC Economy and Finance Minister Mehmet Bayram signed the protocol on economic and financial cooperation.

    Speaking in the signing ceremony, Gurel said that Turkey and TRNC reached a full concessus to improve the economic, political, cultural and social cooperation and that the two countries are determined to do so.

    Gurel noted that the Partnership Council is an important step in further improving the relations and that the protocol shows how TRNC will be supported.

    Stating that the stability program implemented by TRNC is the main element, Gurel said that Turkey will support TRNC in the implementation of this program.

    Gurel stated that Turkey will give 350 million U.S. dollar loan to TRNC within three years under the protocol.

    Bayram said that Turkey always deals with TRNC's problems, thanking Turkey for its assistance.

    When asked whether or not this loan is sufficient, Bayram said that TRNC will meet some of the requirements of the stability program by its own dynamics.

    Bayram noted that the results gained in the program will be reviewed from time to time.

    If Turkey sees that 350 million U.S. dollars is not sufficient in the implementation of the program, the program and the loan may be reviewed, Bayram said.

    Upon the same question, Gurel said that what is important is the creation of an economic field between Turkey and TRNC which will improve the economic relations.

    Gurel noted that within this framework, they will try to eliminate the economic differences between the two countries by putting into force the earlier signed agreements.

    (To be continued)

    -SOUTHEAST ANATOLIA REGION EXPORTS FRUIT, VEGETABLE, INDUSTRIAL
    PRODUCTS WORTH OF 100,2 MILLION U.S. DOLLARS IN 2000
    GAZIANTEP - The Southeast Anatolia region exported vegetable, fruit and industrial products worth of 100 million 244 thousand U.S. dollars in 2000 with a decrease of 8.6 percent when compared to the figures of last year.

    The region had exported fruit, vegetable and industrial products worth of 109 million 660 thousand U.S. dollars in the previous year.

    The data obtained from the Southeast Anatolia Exporters Association showed that the region exported fruit and vegetable worth of 25 million 834 thousand U.S. dollars; chemical substances worth of 24 million 680 thousand U.S. dollars; electric-electronic goods worth of seven million 448 thousand U.S. dollars; ready-to-wear products worth of 17 million 153 thousand U.S. dollars; and cement, iron, non-iron products, and various products worth of 25 million 129 thousand U.S. dollars in 2000.

    Fruit, vegetable and industrial products were mainly exported to the European Union (EU) countries, Middle East and Turkish Republics.

    -STATE MINISTER GUREL SAYS MOSES HAS BEEN REPRESENTATIVE
    OF GOOD WILL OF U.S. ADMINISTRATION SO FAR (3)
    ANKARA - State Minister Sukru Sina Gurel said on Friday that Alfred Moses, the U.S. President Bill Clinton's Special Envoy to Cyprus, has so far been representative of good will that the U.S. administration has shown to mark developments in Cyprus question.

    Gurel and Mehmet Bayram, the Economy and Finance Minister of Turkish Republic of Northern Cyprus (TRNC), signed the protocol on economic and financial cooperation.

    Responding to questions of reporters in the signing ceremony, Gurel said that he could not meet with Moses, who held contacts in Ankara a short time ago, due to his intensive program.

    Gurel noted that they welcome the initiatives of a third side which exerts efforts to find a solution to Cyprus question but that a possible solution should please both sides on Cyprus and should depend on the sovereign existence of TRNC.

    Within this framework, they welcome the initiatives of the U.S., Gurel stated.

    Gurel added, ''but, whether or not the proximity talks will be continued, whether or not these talks can be started in accordance with which parametres, or whether or not the two sides will approve a new process, concern the two sides on Cyprus, but particularly Turkish Cypriot society. TRNC President Rauf Denktas is the person who will convey the related views about this issue to the United Nations Secretary General.''

    (To be continued)

    -TUNABOYLU, BANKS UNION CHAIRMAN (2):
    -''IT IS AN UNDENIABLE REALITY THAT THE
    BANKING SECTOR HAS SOME STRUCTURAL PROBLEMS''
    ISTANBUL - Osman Tunaboylu, the Chairman of Turkish Banks Union and the General Director of Ziraat Bankasi, said on Friday that it is an undeniable reality that the banking sector has some structural problems.

    Attending a meeting with the administrators of the economic press in Istanbul, Tunaboylu said that inflation not only removes the trust in national money, but also it leads to high and unstable nominal and real interest.

    Tunaboylu noted that this situation deteriorates the operation and structure of financial markets and institutions.

    Turkey has to overcome the inflation, Tunaboylu said.

    Tunaboylu noted that the increasing losses of the public banks which form 40 percent of the sector, in the last decade not only narrow the credit volume but also lead to the increase of nominal and real interests by causing liquidity pressure on the markets.

    The chronic high inflation and the public borrowing makes it difficult for the banking sector to fulfil its basic functions, Tunaboylu said.

    Emphasizing that the banking sector has a very heterogenous structure, Tunaboylu noted that this structure deteriorates the competition conditions and leads to the irrational use of resources.

    Tunaboylu said, ''80 banks are operating in the sector today. Except 19 banks which are operating as development and investment banks and which have four percent share in the system, there are 61 deposit banks. Four of these 61 deposit banks are working with public capital, 28 with private capital, and 18 with foreign capital. The rest 11 banks were transferred to the Savings Deposit Insurance Fund due to their financial problems.''

    The banking sector is exposed to high currency and interest risk, Tunaboylu said.

    Tunaboylu noted that the banking sector gives the resources it collects with high costs to the Central Bank without any profit and that the cost of this fact to the system was predicted to be at least 1 quadrillion TL in 2000.

    It is not possible to deny that the banking sector cannot efficiently meet the needs of the economy, Tunaboylu stated.

    Tunaboylu added, ''the reason for this is not the banks or our bankers as it is sometimes claimed. The reason is the structural problems of the system. The Turkish banks are exerting efforts to reach the desired banking sector rather than unproductive discussions.''

    -STATE MINISTER GUREL SAYS WATER TRANSPORTATION
    TO TRNC IS OF VITAL IMPORTANCE FOR TRNC (4)
    ANKARA - State Minister Sukru Sina Gurel said on Friday that water and energy transportation to Turkish Republic of Northern Cyprus (TRNC) is of vital importance for TRNC.

    Gurel and Mehmet Bayram, the Economy and Finance Minister of Turkish Republic of Northern Cyprus (TRNC), signed the protocol on economic and financial cooperation.

    Responding to questions of reporters in the signing ceremony, Gurel said that the necessary infrastructure for transporting water to TRNC has been laid and that the water transportation project will rapidly be carried out from now on.

    Gurel noted that transporting water to TRNC by pipelines will be completed no later than two and a half years.

    Transporting water project by ballons is being carried out fairly slowly, Gurel stated, adding that they agreed to transport water by tankers in today's meeting.

    Gurel added that they think of transporting energy from Turkey to TRNC in the medium term.

    (To be continued)

    -BANKS ASSOCIATION CHAIRMAN TUNABOYLU ANNOUNCES OPERATION
    LOSS OF ZIRAAT BANKASI AS 8 QUADRILLION TL
    ISTANBUL - Turkey Banks Association Chairman and Ziraat Bankasi General Director Osman Tunaboylu has announced that operation loss of Ziraat Bankasi was about 8 quadrillion TL.

    During a meeting he held with economy writers in Istanbul, Tunaboylu said he believed that the new councils which are set up for public banks would be beneficial.

    Ziraat Bankasi was given 2 quadrillion TL and 500 million US dollars worth of papers to meet the operation loss of the bank. Public banks experienced a significant liquidity relief due to the recently given papers which resulted in less borrowing and low interest rates, he explained.

    There are ambiguities about the cost of insured savings which has been in effect since Jan. 1, Tunaboylu said and added that the cost is 50 billion TL as of Jan. 1, 2001.

    ''The economic crisis is over and I'm hoping that we would not experience a crisis again. There has been a very high risk of interest-currency rate risk in the last ten years. Turkey suffered a big blow in 1994 crisis and those wounds were not bandaged in time,'' he commented.

    ''We must first maintain macro economic balances. We will bring the inflation down and maintain a sustainable economic growth. We will restructure ourselves according to international laws. This way we can increase our competitive power in global markets,'' he said.

    Tunabolu also said 80 banks in Turkey was not too many and he gave similar examples from western countries.

    He also indicated that a bank, as long as it keeps its licence, is a legal and said unlimited state guarantee was not right.

    -UN COMPENSATION COMMISSION DEBATING BOTAS' COMPENSATION APPLICATION
    ANKARA - The United Nations Compensation Commission is debating Botas' demand to be compensated for the loss it suffered because of the Gulf crisis between the years 1990-1996 when Kerkuk-Yumurtalik crude oil pipeline was closed.

    Botas had applied to the U.N. in 1993 asking to be compensated for its losses. Botas' application was debated at the U.N. compansation commission meeting in Geneva on Jan. 10.

    A delegation headed by Botas Deputy Director Huseyin Kilavuz who attended the meeting answered participants' questions to clarify certain ambiguities.

    The commission is expected to announce its decision within six months and decide what percent of 1.2 billion U.S. dollars will be compensated.

    A delegation of experts from the U.N. had visited Ankara and Ceyhan on June 6-10, 2000 and collected information related to the case.


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