Turkey has set itself some ambitious targets for the next 10 years, not least wanting to become one of the world's 10 largest economies. There are a number of obstacles that it must overcome first, however, with a significant savings gap, a deep current account deficit and a poor record in attracting foreign direct investment.
Western Europe
Latest articles from Western Europe
Turkey revamps its capital markets
May 1, 2013As part of its drive to make the country more attractive to international investors and strengthen its economy, Turkey has kick-started a series of capital markets reforms by bringing its three exchanges under one roof, thus establishing the Borsa Istanbul.
Vakifbank steps up to compete in Turkey's high-tech market
May 1, 2013Vakibank's five-year plan to upgrade its IT infrastructure and completely remake its core banking application is ambitious but, according to CIO Ali Engin Eroglu, it is vital if the bank is to keep pace with Turkey's technology-focused banking sector.
The future of mobile money
May 1, 2013Mobile money, including banking and payments, is encroaching into the everyday life of the consumer. Monetising the business is still proving difficult, but thanks to the abundance of products available already, tangible business models are slowly emerging.
Investment banking fees down across Europe
May 1, 2013Despite contracting investment banking fees in Europe, Turkey, Slovakia and Croatia have bucked the trend with impressive growth.
An Icelandic lesson of recovery for Cyprus
April 29, 2013The problems that have beset Cyprus this year have an all too familiar ring to them, but the post-crisis reaction to its economic problems by Iceland show how a full investigation into the causes of a financial crisis are essential to enable a new system that is fit for purpose to be established.
Germany’s sleeping sparkassen giant
April 16, 2013
Taken as a single entity, Germany's savings bank sector is the second largest financial institution in the country. And, unlike the country's top 10 banks, it has been growing since 2008.
Economy minister looks to get Portugal back to growth
April 2, 2013Portugal’s minister of economy talks about his plans to get the country "back to normality" after its bailout in 2011.
Retail investors lead Portugal back to market
April 2, 2013Portuguese corporates began to re-access bond markets via retail distribution in 2012, paving the way for banks and the sovereign to return to Eurobond markets by early 2013.
A turning point as Portugese banks seek growth
April 2, 2013Portugal's banks have solved capital shortfalls and improved their funding positions, but finding sustainable sources of loan and revenue growth is proving more difficult.