Turkey's deputy premier says risk premium in Turkey lower than 15 EU states

ANKARA (A.A) - Turkey's deputy prime minister said on Friday that risk premium in Turkey was lower than that of 15 European Union (EU) member states. Ali Babacan said risk indicators had risen in Europe, but Turkey's risk premium was lower than that of 15 EU member states. "Many European countries have a level of welfare they do not deserve. There is an artificial welfare experienced with debts, and this level of welfare has to drop a little," Babacan told a televised interview. Babacan said either the level of welfare would be down in a controlled way or they would face an uncontrolled, harsh and serious crisis or picture. "They have to prefer between these two. The next ten days are important, there will be meetings one after the other," he said.  Babacan said European Central Bank should take steps to preserve financial stability, and countries should deal with their budget and take steps to solve their structural problems. The deputy premier said that problems could be solved in three months if a European government had the same determination and will as the Turkish government.  Babacan said the problem in Europe was caused by banking and public finance, and noted that Turkey was strong in those two areas. On relations with Syria, Babacan said countries had to take measures affecting only the regime or certain people in that country. "We are working on a list of names as a further step. We are thinking of banning businessmen close to the (Syrian) administration from travelling to Turkey," he said. Babacan said he did not think Turkey would have a loss due to sanctions as Turkey's exports to Syria mainly focused on meeting daily needs of people. Deputy Premier Babacan also said he was planning to visit Japan, Hong Kong and Singapore next week, and then attend a United Nations (UN) global sustainability panel in New York.