Erdogan supports “Turkish Lira Zone” alternative to Eurozone

Prime Minister Recep Tayyip Erdogan on Tuesday delivered the closing remarks of a conference on “Europe beyond the Crisis” which was organized by the Nicolas Berggruen Institute in Berlin.

Erdogan underlined that both Turkey and the EU would gain from Ankara’s accession, adding that blocking Turkey’s membership negotiations on political motives benefited neither side.

Erdogan also sought to give assurances that Turkey’s membership in the European Union would not put extra load on the EU, saying, "We have said that we are coming not to be a burden on EU’s shoulders but to reduce the Union’s burdens. But they did not understand us, they did not want to understand us, and they still do not understand us."

Erdogan said that some suggest Turkey stay out of the eurozone and establish a “Turkish Lira zone” instead and that securing political stability in Europe was critically important to maintain the confidence of European societies in the union and the euro. “I know that there are some EU member countries which say ‘I am against the euro, I do not want to take part in the eurozone.’ For instance Britain… It is quite self-satisfied. They even say ‘You should stay away from the eurozone, you can establish a Turkish-Lira zone.’ And I said I think the same way, too. The EU should check up on itself regarding the monetary system,” Erdogan added.

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