{"id":34070,"date":"2011-05-21T19:20:22","date_gmt":"2011-05-21T16:20:22","guid":{"rendered":"http:\/\/www.turkishforum.com.tr\/en\/content\/?p=34070"},"modified":"2014-01-06T01:56:16","modified_gmt":"2014-01-05T23:56:16","slug":"live-in-istanbul-eu-will-beg-turkey-to-join-says-templeton-star","status":"publish","type":"post","link":"https:\/\/www.turkishnews.com\/en\/content\/2011\/05\/21\/live-in-istanbul-eu-will-beg-turkey-to-join-says-templeton-star\/","title":{"rendered":"LIVE in Istanbul: EU will beg Turkey to join says Templeton star"},"content":{"rendered":"

LIVE in Istanbul: EU will beg Turkey to join says Templeton star<\/p>\n

by Angus Foote on May 20, 2011 at 11:18<\/p>\n

LIVE in Istanbul: EU will beg Turkey to join says Templeton star<\/p>\n

\"\"<\/p>\n

ISTANBUL: Joining the EU is irrelevant to Turkey and Europe will eventually beg the Turks to join, says Franklin Templeton frontier markets manager Carlos von Hardenberg.<\/p>\n

Working alongside emerging markets veteran Mark Mobius, von Hardenberg is based in Istanbul and responsible for Turkish investments as well as being part of the team responsible for the Templeton Frontier Market fund.<\/p>\n

Speaking to Citywire at Franklin Templeton\u2019s investor conference in Istanbul, he said the level of entrepreneurship in Turkey outstrips that seen almost anywhere else.<\/p>\n

\u2018The mindset is astonishing\u2026the Turks are in places such as Russia, the UK and Germany.\u2019<\/p>\n

Turkey has a very stable labour market and is becoming an economic powerhouse, says von Hardenberg, making the question of whether or not the country joins the EU in the near future is \u2018completely irrelevant\u2019.<\/p>\n

\u2018No-one here cares,\u2019 he says. \u2018At some point in the future, Europe will come on its knees and beg them to join.\u2019<\/p>\n

Another country where he sees positive development is Nigeria, currently one of the biggest overweights in the Frontier Markets fund.<\/p>\n

The Nigerian central bank is putting pressure on the government to get its fiscal house in order, says von Hardenberg. In terms of facing up to its economic challenges, he says, \u2018this country is now better organised than many western companies.\u2019<\/p>\n

\u2018A new generation has had enough of 40 years of wasted time. The Nigerian government knows that if they don\u2019t get it right now, this country could fall apart.\u2019<\/p>\n

\u2018But smart money is moving into Nigeria. Companies like Nestl\u00e9 and Heineken, which is now the largest brewer in Nigeria. I think Nigeria is now in a comparable situation to Korea or Taiwan in the mid-1960s. We will see decades of strong growth \u2013 it\u2019s a unique opportunity.\u2019<\/p>\n

However von Hardenberg warned that corporate governance remained a problem in some frontier markets. \u2018Vietnam remains a big trouble spot \u2013 it can take ages to get hold of the data you need.\u2019 He is also avoiding Venezuela because of fears over ownership rights and enforced nationalisations.<\/p>\n

via LIVE in Istanbul: EU will beg Turkey to join says Templeton star – Citywire.<\/p>\n","protected":false},"excerpt":{"rendered":"

LIVE in Istanbul: EU will beg Turkey to join says Templeton star by Angus Foote on May 20, 2011 at 11:18 LIVE in Istanbul: EU will beg Turkey to join says Templeton star ISTANBUL: Joining the EU is irrelevant to Turkey and Europe will eventually beg the Turks to join, says Franklin Templeton frontier markets […]<\/p>\n","protected":false},"author":83,"featured_media":34072,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[5603],"class_list":["post-34070","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-eu-members","tag-templeton-star"],"_links":{"self":[{"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/posts\/34070","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/users\/83"}],"replies":[{"embeddable":true,"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/comments?post=34070"}],"version-history":[{"count":0,"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/posts\/34070\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/media\/34072"}],"wp:attachment":[{"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/media?parent=34070"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/categories?post=34070"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/tags?post=34070"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}