April 2,2009                                                                                                                      

TTACC has invited Dr. Engin Kalkan, Dr. Osman Nal and Dr. Can Dogan for a panel discussion about current financial crisis and prospects for the future of our economy.
Dr. Dogan talked about the economic power of the U.S. Economy and why it was inevitable for such a crisis to spread to other countries. He also talked about why markets did not respond as expected and some of the controversies about the programs.

Dr. Dogan predicted that once the economy starts recovering which he expects to be during the first quarter of 2010, economy will start growing fast again. Dr. Osman Nal explained the reasons of the crisis from the very early stages and how institutions were affected in a visual presentation. He also mentioned about assumptions that had been made but later turned out to be false and how he was surprised to see that economic indicators had signaled before the crisis .

Dr. Engin Kalkan shared his views on the effects of the crisis on the real economy.  He pointed out that there were other macroeconomic variables even before the crisis that were signaling a downturn in the economy. Dr. Kalkan, whom also a successful investor, stated that each crisis brings opportunities and it is the investors’ duty to find them out.  
Panelists also brought up the lessons Turkey took after the 2001 financial crisis. They all agreed that changes in the regulatory system after 2001 helped Turkey to remain strong during the current crisis.

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