Turkey: It’s about the journey, not the destination

Turkey set out on the road to EU accession some 60 years ago but the goal remains elusive. Turkish bankers consider the journey worthwhile. But, they muse, if the country keeps on being spurned it should look east rather than west to apply its new-found expertise and dynamism. Eric Ellis reports.

ZEKI ÖNDER, THE charismatic senior vice-president of Turkey’s Sekerbank, tells an anecdote about a busy Chinese development banker he was having a drink with in Beijing recently.

Their conversation turned to Turkey’s perennial tilt at European Union membership, and Europe’s lukewarm attitude to Ankara’s westward ambition. The Beijing banker questioned why Turkey even wanted to be there. “He told me that he felt sorry for European bankers,” Önder recalls. “He said it was because there is nothing left to do there.

Access this research

Enter your work email address to sign in or check whether your organisation already has access to Euromoney.