rriyet Daily News<\/strong><\/a> reports.<\/p>\n\u201cLooking at the steps taken by the Turkish government and the tone of the political rhetoric, we can expect such a move,\u201d Kat\u0131rc\u0131o\u011flu told the H\u00fcrriyet Daily News in a phone interview yesterday. However, such a move would strengthen opponents to Turkey\u2019s EU membership bid and denounce Turkey as an \u201cunreliable partner.\u201d<\/p>\n
It is the right of Turkey to withdraw its reserves from France, according to Kerem Alkin of Istanbul Commerce University. \u201cThis might not hurt the French economy but will prove Turkey is serious about sanctions,\u201d Alkin said.<\/p>\n
Turkey\u2019s Central Bank has its second highest reserves in France with 28.8 billion liras, following the United States with 48.6 billion liras, reports the Daily News.<\/p>\n
\u201cThe French economy might face serious difficulties if the Turkish Central Bank withdraws reserves, as most of it is in French government bonds,\u201d said Mehmet Usta, deputy chair at Bank Aktif, who also served as general manager at Banque de Bosphore in France between 1994 and 2007.<\/p>\n
Noting the rising need for liquidity in France due to the ongoing European debt crisis, \u201cTurkey\u2019s investment in the country would still play an important role economically if France could not compensate the amount from any other source immediately,\u201d he said.<\/p>\n
Yet, responding to Daily News questions, Y\u00fccel Yazar, press counselor of the Central Bank, declined to comment on the issue. \u201cOur data is open for everyone and clear enough, unfortunately we cannot comment on this issue now,\u201d Yazar said.<\/p>\n
Turkey might impose additional economic sanctions against France if the country insists on accepting the bill punishing any denial of the Armenian Genocide at the French Senate, on Dec. 23 said Ali Babacan, Turkey\u2019s deputy prime minister.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Turkish Central Bank could withdraw its nearly 23 billion euros of reserves from France after the EU member\u2019s recent move to fine any denial…<\/p>\n","protected":false},"author":1,"featured_media":151280,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"tstyn_error":""},"categories":[10],"tags":[10372,10790,16861,36284],"_links":{"self":[{"href":"https:\/\/epress.am\/en\/wp-json\/wp\/v2\/posts\/151299"}],"collection":[{"href":"https:\/\/epress.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/epress.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/epress.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/epress.am\/en\/wp-json\/wp\/v2\/comments?post=151299"}],"version-history":[{"count":0,"href":"https:\/\/epress.am\/en\/wp-json\/wp\/v2\/posts\/151299\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/epress.am\/en\/wp-json\/wp\/v2\/media\/151280"}],"wp:attachment":[{"href":"https:\/\/epress.am\/en\/wp-json\/wp\/v2\/media?parent=151299"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/epress.am\/en\/wp-json\/wp\/v2\/categories?post=151299"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/epress.am\/en\/wp-json\/wp\/v2\/tags?post=151299"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}