Euroization and EMU  If dollarization, including full dollarization, should be avoided, why join EMU? This is a question which Turkey will have to ask itself, sooner one hopes, rather than later. The answer is that joining EMU is a more far-reaching step than implementing a currency board, or even deciding to use a foreign currency.
It was certainly not flattering to any of you to learn that a number of your bankers may have fallen prey to the Ponzi Schemes – we cannot put this on their financial illiteracy, can we? It is rather a worrisome fact.