Global Economy and Significance of G20 was Discussed at TEPAV


ANKARA- TEPAV and Canada Embassy organized a meeting to discuss the significance of G20 at the eve of G20 Toronto Summit to be held on June 26-27 2010.

Opening speeches were delivered by Prof. Dr. Güven Sak, TEPAV Director, Serap Özcoşkun, Deputy Director General for Multilateral Political Affairs, and H.E. Mark E. Bailey, Ambassador Canada. Key note speaker of the meeting was Prof. Dr. john Kirton from Toronto University.

In his speech, TEPAV Director Prof. Dr. Güven Sak maintained that along with the global crisis, the inter-country relations entered a new phase and that the significance of coordination mechanisms such as G20 increased in terms of executing common policy responses at global level. Sak underlined that in this process, all countries must cooperate. Putting emphasis on controlled globalization, Sak indicated that potential crisis can be prevented this way.


TEPAV : "Istanbul Decisions Are Of Great Importance For Turkey"


ANKARA- TEPAV Policy Note "From 'Washington Consensus' to 'Istanbul Decisions': Where do we go?" stated that Istanbul Decisions are of great importance with respect to both the future of the global system and to the position of Turkey in the new global system.

The Note prepared by TEPAV Director Prof. Dr. Güven Sak and Economic Policies Analyst Esen Caglar stated Istanbul Decisions point out that the first global crisis the world witnessed has been changing permanently the operation and approach of the World Bank and the IMF.

The note said "Taking a look at the document on Istanbul Decisions presented in the IMF web site, one can observe that the term "competition", frequently seen in old documents, is now replaced with the word "cooperation" ". The note maintained:


"TEPAV: G20 Summit is a Medium Term Opportunity for Turkey"


TEPAV says in its policy note that the G20 Summit that will take place in Washington D.C. under the auspices of US President Bush is an important step in seeking a solution to the global crisis. The TEPAV report, which labels the summit as a platform to lay the foundations in the design of the new global financial system, also argues that Turkey should assume an active role. The summit, which will be also attended by a Turkish delegation chaired by Prime Minister Erdoğan, is expected to host debates on measures to combat the global financial crisis as well as rather radical approaches including a new global regulation and supervision mechanism. The TEPAV report stresses that Turkey, which has been elected to a temporary post in the United Nations Security Council in October, should participate actively and lead the debates at the G20 summit and adds that Turkey's success at the G20 summit provides an important opportunity to solidify its position in the global economy.