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Category: Italy

  • Italy hails Turkey’s presence at EUROGENDFOR

    Italy hails Turkey’s presence at EUROGENDFOR

    eurogendforItaly has praised Turkey’s presence in the European Gendarmerie Force (EUROGENDFOR/EGF), an initiative comprising six European Union member states: France, Italy, the Netherlands, Portugal, Romania and Spain, while applauding Turkey’s role in strengthening European security.

    In a written statement released on Tuesday, the Italian Embassy in Ankara expressed pleasure over the fact that Turkey would for the first time participate in an executive committee meeting of the EGF which was scheduled to be held in Paris yesterday.

    “On the occasion of the previously mentioned meeting, Turkey’s entrance into the EGF with the title of observer will be registered. Italy has always pointed out the importance of having Turkey included in the EGF. The aforementioned development is once more proving the importance of the role played by Turkey in strengthening the European security system,” the statement said.

    Last month, France, which had thus far resisted Turkey’s participation in the EGF, finally gave up its objection, with French Foreign Minister Bernard Kouchner recently sending a letter to his then-Turkish counterpart, Ali Babacan, about the issue.

    Source: Today’s Zaman, 14 May 2009

  • ‘Italy wants to expand investment in Turkey’

    ‘Italy wants to expand investment in Turkey’

    moz screenshot 16Italian Ambassador Carlo Marsili said on Friday that Italy wants to expand its investments, currently concentrated in the western parts of Turkey, to the entirety of the country.

    Marsili told reporters in Adana that economic relations between the two countries have gradually strengthened, noting that the number of Italian companies operating in Turkey has reached 700. He said Italian investment in Turkey amounted to $5 billion, while the trade volume between the two countries exceeded $19 billion.

    Marsili said Italian companies in Turkey operated primarily in the industrial sector as well as in cement, banking and small and medium-sized enterprises (SMEs). Marsili said they wanted to expand Italian investment, which is concentrated in the west of the country, to other parts of Turkey, noting that they were making assessments on cities such as Adana, Gaziantep, Konya and Kayseri.

    Meanwhile, British mobile phone giant Vodafone has vowed to increase its investments in Turkey, reiterating its commitment to continuing operations despite a recent plunge in its subscriber numbers in the country. “Our investments in Turkey are long-term and we are looking forward to presenting our 3G products,” Vodafone CEO Vittorio Colao said in a written statement on Friday. He added that the company would allocate half of its 2009 revenues to investments.

    Source:  www.todayszaman.com, 09 May 2009

  • ITALIAN AMBASSADOR: ITALY STRONGLY SUPPORTS TURKEY’S EU MEMBERSHIP PROCESS

    ITALIAN AMBASSADOR: ITALY STRONGLY SUPPORTS TURKEY’S EU MEMBERSHIP PROCESS

    ANKARA (A.A) – 04.05.2009 – Italian Ambassador in Ankara Carlo Marsili said on Monday that his country extended strong support to Turkey’s EU membership process. Speaking at a conference in Ankara, Marsili said that Turkey’s face always turned towards western world.

    Noting that EU membership process was difficult, Marsili stressed that the target of Turkey was full membership to the EU.

    Marsili said that if Turkey met all the conditions asked by the EU in the end of membership negotiations, then there would not be any obstacle before Turkey’s membership.

    He noted that Turkey should speed up membership process and fulfill the reforms within that scope.

    Expressing belief that there would be a “successful marriage” between Turkey and the EU, Marsili said that he believed the artificial obstacles before the membership negotiations would be eliminated.

    Marsili said that relations with Cyprus and Greece were influential issues in Turkey’s negotiation process, adding that insolubility of Cyprus issue damaged Turkey’s EU membership process.

    Noting that they did not want the EU to be a Christian club, Marsili said that objecting Turkey on the grounds that it was a Muslim country was not appropriate to the founding values of the EU.

    Marsili said that Turkey, in all aspects, was a European country, and it was important as a secular and democratic country.

    Noting that Turkey had one of the most dynamic economies of Europe, Marsili pointed out the economic growth of Turkey despite the global economic crisis. (GC-AÖ)

    Source: haber.turk.net, 04/05/2009

  • 2009 ANNUAL DUES, DONATIONS and Book Sales

    2009 ANNUAL DUES, DONATIONS and Book Sales

    2009 MEMBERSHIP DUES AND YOUR DONATIONS ARE NEEDED TO CONTINUE OUR POSTED PROGRAMS WITH OUT INTERUPTION

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    ÜYE AİDATLARI, BAĞIŞLAR VE KİTAP SATIŞLARI

    Dear Friends,

    The Turkish Forum (TF) is the GLOBAL organization with branches and working groups COVERING 5 CONTINENTS, working with many regional Organizations in the America, Europe, Asia, Africa, Australia and Turkey.  TF’s mission is to represent the Turkish Community in in the best way possible, to empower the people of Turkish origin and friends of Turkey to be active and assertive in the political and civic arenas, to educate the political establishments, media and the public on issues important to Turks, and cultivate the relations between the working groups located an five continents, serving the Turkish Communities needs.

    In order to achieve these goals we have performed many activities and completed many projects, THEY ARE ALL LISTED IN THE WEB PAGES OF TF, . You have been informed about these activities and projects, many of you participated voluntarily and contributed heavily and still contributing to these activates and projects. As the events happen and the major steps taken the information always reaches to you  by the TF Grassroots DAILY NEWS Distribution Service.  Needless to say, each activity and project requires a large amount of human and financial resources. TF has a  completely volunteer board, none of the board members receives any compensation or salary or even a small reimbursement. TF also has many volunteer committee members, WELL ESTABLISHED ADVISORY BOARD and project leaders. In addition to our large volunteer pool, please see them an https://www.turkishnews.com/tr/content/turkish-forum/ TF sustains Permanent Offices in New England, Germany and in Turkey and has a number of professional staff to upgrade its systems, and to solve the technical problems.  Please check our website at https://www.turkishnews.com/tr/content/turkish-forum/

    As the 2009 did begin we kindly ask you to support TF by becoming a member, if you are not already one.  You can also contribute a donation if you wish to upgrade your regular membership  to a higher level. Your financial support is critical to TF in order to pursue its mission in a professional manner. Needless to say, it is the financial support that we receive from our members and Friends of Turkey  is the backbone of our organization. As long as this support is continuous we can achieve our objectives and work for the communities across the globe.  Your contribution is tax-exempt under the full extent of the law allowed under Internal Revenue Code 501(c) (3).

    Becoming a member and making an additional contribution are easy: You may become a member online at http://www.turkishnews.com/dagitim/lists/?p=subscribe&id=3

    I thank you for your belief in TF, and look forward to another successful year with your uninterrupted support.

    Sincerely,
    Kayaalp Büyükataman

    Dr. Kayaalp Büyükataman, President CEO
    Turkish Forum- World Turkish Coalition

  • POOR RICHARD’S REPORT

    POOR RICHARD’S REPORT

    Poor Richard’s Report                                                                        

     

                                                                                                    Over 300,000 readers

    My Mission: God has uniquely designed me to seek, write, and speak the truth as I see it. Preservation of one’s wealth while providing needful income is my primary goal in these unsettled times. I have been given the ability to evaluate, study, and interpret world and national events and their influence on the future of the financial markets. This gift allows me to meet the needs of individual and institution clients. 

    March 10, 2000 the stock market topped out.

    March 10, 2009 the stock market bottomed. 

    This does not mean it is going to run back up. The leaders of past bull markets do not lead the charge in new bull markets. This bear market has been the second worst in our history and probably the worst ever in other countries. It will be 5, 10, maybe 15 years before the averages make new highs- that is, if they do not change the components too much. Stocks bottom when the future looks the bleakest. So I believe we are near or at the bottom of a major cycle. It is a market of stocks not a stock market.

                 I have written that the market has bottomed, but the recovery is going to be long and painful for some. We have to institute new global regulations and retrain ourselves to be more frugal. We buy a home because we love it and want to live in it, not to turn a quick profit. We buy a stock because the company has a good product, provides a necessary function for the good of the community, and over a period of time will grow.

                Countries and consumers are tapped out. The ratio of household debt to Gross Domestic Product (GDP) rose from 66% in 1997 to 100% in 2007. We are not alone. In the United Kingdom it was an even bigger jump.

                In the US the overall debt reached 350% of GDP. Only 85% is private. This figure was 180% in 1980. The next bubble to burst will be credit cards and then, if we are unlucky, we will have a debt implosion. Individuals and corporations will do their best to reduce debt. They will be shut out from borrowing because of the massive borrowing the US Government will have to do. This will be true for many other countries also.

                Today there is a debate between Socialists and their foes that want less government intervention in their daily lives. I believe the truth lies in the middle. We can not be all things to all people. In the past we have borrowed on the future and it is now pay back time. We have to downsize our dreams and expectations or we could find ourselves in the same straight jacket that the Germans found themselves in 1930’s. The American spirit is that of a “can do will try for it” attitude. Today, while you are reading this letter, there is someone trying to figure out a cheaper source of energy. Until the discovery is achieved we will have a slow recovery. I believe that day will come from an area we least expect. Have faith.

                    With a slow recovery major corporations will wallow in the mud. Medium size companies that can move and change quickly and do not have a built in bureaucracy will become the new leaders. It has been my observation that the pinnacle of leadership lasts about 10 years. That leadership is attained because the new hires believe in the company. Later hires join because of the name and it’s safety. Competitors multiply and the growth rate slows down. As Andrew Carnegie was fond of saying “shirt sleeves to shirtsleeves in three generations” can apply to this corporate sequence.

                If you want to participate in this new bull market you must change your thinking. The averages mean nothing today. The market is made up of individual securities. You will want to know how your stock is doing. Not the market. Some stocks are going to drift lower because they are still over priced or because they have had a good run in the past and accounts are now overloaded with a past leader. These stocks should be sold. Taking a loss is really a good deal. First you limit your loss and you have given yourself liquidity. Liquidity means you have constant funds for your next purchase. The losses you accumulate can be used to reduce your taxes by $3,000 per year. This applies, as of 3/10/2009, before Obama changes the system. 

                Now lets say you have taken $25,000 in losses. Smile! You have just set yourself for the future. I am not referring to the next 8 years of  $3,000 worth of deductions. Let’s say two years from now that you have taken $20,000 gains in various trades and you face a monster tax bite. You can now use the remainder of your tax loss carried forward, which could be $19,000. Now your tax bite is only $1,000. This is why taking a loss is smart. More money has been lost by investors not doing a trade because of “taxes”.

                Now initially in this new market preferred stocks that have the 85% tax credit should do well, especially if it is selling below its call price. If they call it from you, you stand to make a gain. Corporate debt that is selling below par of strong companies will represent good value. Companies that hired a key person for the future while others have been downsizing is a big tip off.

                Gold is an investment for caution. The President’s strategy is to have a little inflation to support the housing market. Incidentally, the European Union and world leaders are debating over what should happen.  Some of the foreign politicians that carry a big stick are as follows: Wen Jiabao, 66, the Chinese prime minister who is under fire at home because he “put the brakes on too fast”. Angela Merkel, 54, the Chancellor of Germany who favors a “new global constitution” for financial markets. Nicolas Sarkozy, 54, President of France who regards himself as de facto leader of Europe given Gordon Brown’s domestic, political, and economic woes and Angela Merkel’s cumbersome coalition.  Gordon Brown, 58, UK prime minister who was the former Chancellor of the Exchequer and believes he is ideally equipped to tackle the crisis. He will host the Group of 20 summit of industrial and developing nations in London on April 2.

                Central bankers include the following: Jean-Claude Trichet, 66, President, European Central Bank who believes politicians and central bankers must do their utmost to shore up economic confidence. Zhou Xiaochuan, 61, Governor, Peoples Bank of China who has held that position since 2002 and is considered a principal supporter of faster market reforms. Fluent in English he can hold his own among economists. A sleeper is Mario Draghi, 61, Chairman, Financial Stability Forum and governor, Bank of Italy who is a US educated economist, former Goldman Sachs executive, and a respected transatlanticist.

                Regulators of note are: Adair Turner, 53 of the UK. Sheila Blair, 54 Chairman of the FDIC. Mary Shapiro, 53, Chairman of the SEC.

                Economists include: Robert Shiller of Yale. Montek Singh Ahuwalia, 65, Deputy Chairman, Indian Planning Commission. Robert Zoellick, 55, President, World Bank. Pascal Lamy, 61, who is Director General of the WTO. Paul Volcker, 81, Chairman, Economic Advisory Board. Fed Chairman in 1979-1987. He warned early and powerfully about subprime mortgages. Paul Krugman, Professor at Princeton University and columnist, NY Times. He has carved out a niche as the democrats’ liberal conscience. Then we have Leszek Balcerowicxz, 62, Professor of economics, Warsaw School of Economics.  

                Bankers to watch are: Lloyd Blankfein, 54, Goldman Sachs chief executive. Jamie Dimon, 52, Chairman of JP Morgan. Stephen Green, 60, Chairman of HSBC since 1962. He has voiced strong views about the need for reform of banking.  A lay preacher and author of a book about reconciling religion with free markets, he has criticized the industry’s excesses during the boom along with Peyton Patterson, Chairman, President, and Chief Financial Officer of NewAlliance Bank.  

                At the top of the list is President Barack Obama, 47, the revues on his economic rescue plan are mixed, but much detail is awaited.  In the meantime, the president is pressing ahead with radical domestic reform agenda encompassing healthcare, the environment, and education. As promised, it has a strong whiff of both audacity and hope. Then we have Ben Bernanke, 55, Chairman of the US Federal Reserve who is a scholar of the Great Depression. He has knowledge of measures that the central banks can use at times of great crisis and he has had ample opportunity to put his theories into effect, using an expanding range of tools too try to arrest the slide.”

                With this list of partial names one can see that this is a global problem; global problems need global answers. This will take time and patience. This is why I recommend the sales mentioned above and a hefty cash position. Sure, the market is trying to bottom, but the prudent way in the 21st century is to wade in step by step. One should also check in with a professional – like me.

     Cheerio !!!

    Richard C De Graff

    256 Ashford Road

    RER       Eastford Ct 06242     

    860-522-7171 Main Office  

    800-821-6665 Watts

    860-315-7413 Home/Office

    rdegraff@coburnfinancial.com

     

    This report has been prepared from original sources and data which we believe reliable but we make no representation to its accuracy or completeness. Coburn & Meredith Inc. its subsidiaries and or officers may from time to time acquire, hold, sell a position discussed in this publications, and we may act as principal for our own account or as agent for both the buyer and seller.

     

     

    This analysis is courtesy of the Financial Times and this assessment is by Lionel Barber, editor.  March 11,2009 page 7

  • ERDOGAN AND BERLUSCONI WORK TOGETHER TO DEEPEN STRATEGIC PARTNERSHIP

    ERDOGAN AND BERLUSCONI WORK TOGETHER TO DEEPEN STRATEGIC PARTNERSHIP

    ERDOGAN AND BERLUSCONI WORK TOGETHER TO DEEPEN STRATEGIC PARTNERSHIP

    By Saban Kardas

    Friday, November 14, 2008

    Prime Minister Recep Tayyip Erdogan hosted his Italian counterpart, Silvio Berlusconi, in the Aegean city of Izmir on November 12. The visit cemented the personal relations between the two leaders and provided a platform for discussing projects to expand bilateral political, economic, and cultural cooperation.  

    Following the model of high-level meetings Italy holds with major European countries, Erdogan and Berlusconi also co-chaired an intergovernmental summit bringing together ministers from the two sides. The gathering brought together ministers of foreign affairs, defense, transport, economy, energy, and the interior from both sides, who discussed, in addition to bilateral relations, joint strategic projects in the Mediterranean, the Balkans, the Caucasus, and the Middle East.

    A statement from the Italian Embassy in Ankara emphasized that by initiating this process with Turkey, Italy made it clear that it considered relations with Turkey as “strategic” (Anatolian Agency, November 11). Similarly, a press brief from the office of the Turkish prime minister emphasized the strategic aspect of the relationship and added that such meetings would be held annually (www.cnnturk.com, November 11).

    The current state of Turkish-European relations was the major item on the agenda. The Justice and Development Party (AKP) government has not achieved any major progress toward EU membership since beginning the process in 2005. What led to the current stalemate in the accession process has been a matter of contention. The AKP government has come under criticism from pro-reform circles as well as EU institutions for slowing down the membership process, while Erdogan has repeatedly put the blame on the EU’s attitude toward Turkey (EDM, November 6).

    Maintaining Italy’s traditional pro-Turkey position, Berlusconi repeated his unconditional support for Erdogan and Turkey during the summit, saying that they had overcome many difficulties “shoulder to shoulder” (www.haberturk.com, November 13). Berlusconi noted that although some EU countries continued to oppose Turkey’s membership, he would continue to emphasize Turkey’s strategic importance and convince the EU that it needed to admit Turkey as a member. Berlusconi criticized the slow pace of Turkey-EU accession negotiations. He called on the upcoming Czech and Swedish presidencies of the EU to accelerate the process and open four negotiating chapters in one year. These remarks definitely pleased Erdogan (Anadolu Ajansi, November 12).

    In an interview with the Turkish daily Hurriyet, Erdogan noted that “Italy is Turkey’s greatest advocate in the EU.” Berlusconi further dismissed the claim that secularism was under threat in Turkey, and he argued that Erdogan had been a great reformer. (Hurriyet, November 12). These emotional remarks were no surprise, given the close friendship that has been cultivated between Erdogan and Berlusconi over the last six years.

    It remains to be seen, however, to what extent Italy can use “Turkey’s strategic importance” to exert leverage on its European partners and deliver on those promises. For Berlusconi, Turkey’s progress on political reforms was satisfactory (Hurriyet, November 12). Only the previous week, however, the European Commission’s progress report criticized Turkey in many areas (EDM, November 6). Chairman of the Turkey-EU Joint Parliamentary Committee Joost Lagendijk said that Turkey’s strategic importance was no guarantee for membership and placing too much emphasis on this thesis undermined domestic reform processes (Anatolian Agency, November 6).

    Nor is it clear whether Berlusconi commands support at home for his Turkish policy. When the news about Berlusconi’s warm remarks on Turkey arrived at a session of the Italian Parliament, representatives from his coalition partner, Lega Nord, were reportedly outraged. They repeated their party’s opposition to Turkey’s membership on geographical, cultural, and religious grounds, and underlined that admitting Turkey would be a grave strategic mistake and undermine European unity (www.tgrthaber.com, Dogan Haber Ajansi, November 13).

    Italy, nonetheless, prefers to approach Turkey from a strategic perspective. In that context, Berlusconi constantly refers to the strategic role Turkey plays as a bridge between European markets and hydrocarbon reserves, a factor that led Italy to invest in pipelines passing through Turkey (Hurriyet, November 13).

    Berlusconi also detailed Italy’s position on expanding membership of the G-8 forum of industrialized countries. He emphasized the need to bring in more countries to make it an inclusive organization, moving first to G-14 and then to G-20. Given Turkey’s constructive role in international diplomacy, Berlusconi vowed to seek ways to include Turkey in the activities of the G-8, when Italy assumes the presidency of the organization next year (www.cnnturk.com, November 12). Both leaders are scheduled to attend the G-20 Summit in Washington, D.C., on November 15 (Today’s Zaman, November 14).

    During the press briefing following their summit, Erdogan and Berlusconi stressed determination to work together for a more peaceful world. Erdogan highlighted the destruction that miscalculated American policies had brought onto the region, particularly to the Iraqi people. He remarked, “If we really want global peace, all world leaders have to work in solidarity…and the G-20 has an important role to play.” In response to a question about whether the two countries would provide additional troops to expand the international mission in Afghanistan, they both declined to rule out the possibility and said that the new U.S. administration would have to clarify its position first and they will be ready to discuss the issue in NATO (ANKA, November 12).

    The joint declaration released after the summit reiterated Italy’s support for Turkey’s EU process and emphasized two countries’ willingness to expand cooperation in other areas. The declaration also noted that the foreign ministers had signed an agreement for the establishment of an Italian university in Istanbul (www.bbm.gov.tr, November 12).