One of the main reservations expressed about Turkish membership of the European Union is that the country does not appear to uphold some of the union’s core values. Turkey might, though, have something to teach the EU about economic openness. Turkey’s human rights record may not compare favourably with, say Luxembourg’s, but the country’s recent friendliness towards foreign takeovers puts many EU countries to shame.
While central bank governors in Rome attempt to conspire to prevent Dutch or Spanish banks from taking over Italian ones, politicians in Paris orchestrate unions between domestic champions to fend off Italians, and British politicians investigate ways to ward off Russians, Turkey welcomed the recent acquisition of one of its most successful banks by a Greek rival.
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