Interview with Ümit Akçay on the Background of the Fund Crisis and Economic Policies
In an interview broadcast on Medyascope, Assoc. Prof. Dr. Ümit Akçay evaluated the effects of low interest rates and FX-protected deposit (KKM) policies, alongside the historical process leading to the fund crisis.
Medyascope Editor-in-Chief Ruşen Çakır discussed the background of the fund crisis and the reflections of economic policies in an interview with Berlin School of Economics and Law faculty member Assoc. Prof. Dr. Ümit Akçay.
Historical Foundations of the Fund Crisis
While evaluating the historical infrastructure of the fund crisis, Assoc. Prof. Dr. Ümit Akçay drew attention to the processes of the January 24 decisions of 1980 and the liberalization of capital movements in 1989.
Pandemic and the Low Interest Rate Period
It was stated that the intense demand for the stock market during the pandemic period and the low interest rate policies during Nureddin Nebati's term were influential in the formation of the crisis's infrastructure.
Approaches During the Mehmet Şimşek Era
During the discussion, the effects of the macroeconomic approaches implemented during Mehmet Şimşek's term on the crisis process and the continuity of economic policies under the AKP era were laid on the table.
Political Consequences and Politics of Revelation
Akçay emphasized that a politics of revelation focusing on individuals named in the fund crisis would not be sufficient, and that the mechanism itself needs to be deciphered.