Abkhazia ready to transport railway cargo to Armenia via Georgia

The Messenger, Georgia
Dec 29 2011

Abkhazia ready to transport railway cargo to Armenia via Georgia

By Messenger Staff
Thursday, December 29
Rossiskaya Gazeta recently stated that Abkhazian leadership is ready
to transport railway cargo to Armenia via Georgia. It has been said
however that this decision does not solely rely on Abkhazia. During
negotiations between Armenia and Georgia the issue of constructing a
special railway track between Batumi and the Armenian town of Gumri
was touched upon. The information was immediately responded to by Free
Georgia opposition party leader Kakha Kukava who expressed readiness
to negotiate and who is ready to react to the initiative of the de
facto Abkhazian leadership. The point was on the agenda before the
2008 Russian invasion when Georgia demanded the worthy and safe return
of Georgian IDPs to Abkhazian territory.

Armenia to Get $50M worth of Rough Diamonds from Alrosa in 2012

Israel Diamond Portal
Dec 28 2011

Report: Armenia to Get $50M worth of Rough Diamonds from Alrosa in 2012

Alrosa, Russia’s government-owned diamond producer, will increase the
amount of rough diamonds it supplies to Armenian diamond manufacturers
from $40 million this year to $50 million in 2012, the panarmenian.net
website reports.

Armenia’s Economy Minister Tigran Davtyan said at a press conference
that whereas only one Armenian diamond company used to receive rough
product from Alrosa, the Russian diamond giant now works with 10 firms
in Armenia.

According to Davtyan, Armenia’s diamond manufacturing sector – which
was hard hit by the global economic crisis of 2008 – is showing signs
of recovery.

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http://www.israelidiamond.co.il/english/News.aspx?boneId

Georgia satisfied with relations with neighbors in 2011

Vestnik Kavkaza, Russia
Dec 28 2011

Georgia satisfied with relations with neighbors in 2011

Strengthening of relations with Armenia, Azerbaijan and Turkey has
been a significant event for Georgia in the outgoing year of 2011,
press speaker of Georgian president Manana Mandzhgaladze said,
commenting on foreign policy.

One of the biggest achievements was the new stage of relations with
the EU and NATO. The official also pointed out the visit of NATO
Secretary General Anders Fogh Rasmussen to Georgia in November and his
statements.

Mandzhgaladze said that simplification of the visa regime with the
European Union and start of negotiations on trade with the EU were
very important all-round events. Georgia will start negotiations on
switching to a visa-free regime with the EU in mid-2012, News Georgia
reports.

Turkey Warns France Of More Action Over Genocide Bill

TURKEY WARNS FRANCE OF MORE ACTION OVER GENOCIDE BILL

Reuters
Wed Dec 28, 2011 9:41pm GMT

Turkey’s Prime Minister Tayyip Erdogan signing ceremony with Ukrainian
President Viktor Yanukovych (not pictured) in Ankara December 22, 2011.

ANKARA (Reuters) – Turkey Wednesday warned France it would take further
action against Paris should the French senate pass a bill making it
a crime to deny the 1915 mass killings of Armenians in Ottoman Turkey
constituted genocide.

Ankara reacted furiously when the lower house of the French parliament
last week approved the bill, recalling its ambassador from Paris,
banning French military aircraft and warships from landing and docking
in Turkey and freezing political and economic meetings.

Prime Minister Tayyip Erdogan slammed the bill as “politics based on
racism, discrimination and xenophobia” and turned his anger on French
President Nicolas Sarkozy, accusing France of colonial massacres
in Algeria.

In a statement, the National Security Council, the top state body
for security matters, said it hoped “common sense” would prevail in
France and that Paris would give up on its “mistake.”

France is Turkey’s fifth biggest export market and the sixth biggest
source of its imports, with bilateral trade worth $14 billion in the
first 10 months of 2011.

The National Security Council comprises Turkey’s top generals, Erdogan,
members of the cabinet and President Abdullah Gul.

“About this subject, measures announced by the government and further
additional measures would be announced depending on France’s steps,”
the National Security Council said at the end of a five-hour meeting.

“If the proposal passes into law, there will be an objection in every
way against this unfair measure.”

The French bill, which will be debated in the Senate next year,
has caused outrage in Turkey, which argues killings took place on
all sides during a fierce partisan conflict.

Erdogan, whose personal animosity toward Sarkozy is well-known for the
Frenchman’s opposition to Turkish membership of the European Union,
has suggested Sarkozy was angling for ethnic Armenian votes in next
year’s presidential election.

Buoyed by its fast-growing economy while Europe battles a financial
crisis and angered at its stagnant bid to join the EU, Ankara feels
it has little to lose in a political fight with Paris.

Turkey’s Economy Minister Zafer Caglayan has said French investments in
Turkey are safe but has suggested that “consumers might take matters
into their own hands.”

(Additional reporting by Seltem Iyigun; Writing by Ibon Villelabeitia;
Editing by Matthew Jones)

STAR Opens 28th Supermarket In Yerevan

STAR OPENS 28TH SUPERMARKET IN YEREVAN

arminfo
Wednesday, December 28, 21:31

STAR, the biggest retail chain in Armenia, opened the 28th supermarket
in Achapnyak community, Yerevan, on December 28. It is the third
supermarket in the given community.

The new supermarket occupies a 240sq m building not far from
Leningryan – Hasratyan crossroad. The commercial premises occupy
180sq m area. The interior design meets STAR’s style of a modern
European supermarket. The supermarket offers 5000 names of products
and a parking area.

“STAR supermarket in Hasratyan 4 address has become a result of the
high development rates of our company in the leaving year. We are
happy to open a new shop meeting European standards of retail food
in Yerevan,” says Vahan Kerobyan, STAR Chief Executive Officer

The new shop offers customers all the additional services of STAR
Company: StarCard Customers Reward System, customer feedback box,
payment through terminals, currency exchange office and ATMs. In
addition to all these standard services, customers can enjoy
weekly promo sales, value offers, as well as they can purchase
policies of compulsory third party liability insurance (CTP) of
“Rosgosstrakh-Armenia”.

To recall, STAR has a supermarket also in Hrazdan town.

ARS-WR Spreading Christmas Cheer

PRESS RELEASE
ARS of Western USA, Inc.
Regional Office
517 W. Glenoaks Blvd.
Glendale, CA 91202
Tel: 818-500-1343
Fax: 818-242-3732
E-Mail: [email protected]
Web:
FB:

Armenian Relief Society of Western USA, Regional Executive
ARS-WUSA Donates 304 Pajamas to City of Hope Hospital

Embarking on a special project this year, the ARS of Western USA
donated 304 pajamas tothe City of Hope hospital in Duarte, CA to
benefit thehospital’s 13th annual Pajama Party, which is hosted by the
Desi Geestman Foundation, for pediatric cancerpatients.
Thanks to donations from companies such as Ross Stores, Inc. and
Jockey, as well as the support of chapters and individual members,
ARS-WUSA collected the pajamas, which where then distributedduring the
Pajama Party on December 9, 2011, with the presence of ARS
representatives.
Alongside the ARS, 27 foundations, police and fire departments,
schools, and other volunteers brought their participation to this
worthwhile event.

ARS-WUSA Hosts Christmas Luncheon at Glendale Salvation Army

The ARS-WUSA extended its role in helping the community by hosting
a Christmas luncheon at the Glendale Salvation Army on December 23,
2011. Approximately 200 low income persons and families, seniors, and
the homeless enjoyed a free holiday meal, which was prepared and
served by over 20 ARS members, including ARS Central Executive
Chairperson Vicky Marashlian, Regional Executive Board Chairperson
Dr. Nyree Derderian, board and chapter members, as well as
staff. Members from various chapters contributed funds for the
luncheon, including many retirees with limited income.
Those in need of a warm meal took great pleasure from the
assortment of foods and refreshments.This luncheon was not the only
way that ARS members contributed to Salvation Army clients this
Christmas season. In Los Angeles and Orange Counties,ARS chapters took
part in food drives with other community organizations.
Given the need that exists throughout the community and the
heartwarming memories from the experience, the ARS will continue its
close affiliation with the Salvation Army in support of such
beneficial projects.

Regional Executive Heads to Arizona

On December 2, 2011, ARS Regional Executive Board members departed
for Phoenix, Arizona to visit the ARS “Ararat” Chapter and its
Saturday School. The trip allowed the opportunity for Board members to
meet with the executive and chapter members, as well as familiarize
themselves more closely with the work and activitiesof the school.

Winter Wonderland 2012

Saturday, January 14 (11 am – 10 pm)& Sunday, January 15 (10 am – 10
pm) at St. Mary’s Armenian Apostolic Church, 500 S. Central Ave.,
Glendale, CA 91204
Admission for One Day: $3; Admission for Both Days: $5; Discount
Game Packages AreAvailable
Enjoy Snow, Arcade and Toy Centers, Games and Rides for Kids of All
Ages, Magician, International Dance Festival and Good Food!

Saturday School parents photographtheir children
Christmas Celebrated at ARSSchools

It is the season that the ARS Saturday and One Day Schools, and Day
Cares celebrate Christmas, as children are taught the Armenian
traditions.
During the past week,children performed Christmas carols and
recited poems, while parents took pride in saving the memories to
digital film.

Celebrating the City of Burbank’s Centennial

ARS-WUSA representatives joined the Armenian National Committee of
Burbank in a celebration of the City of Burbank’s 100th
anniversary. Held on December 7, 2011 at Arbat Banquet Hall, the event
was also attended to by city officials, including Burbank City Mayor
Jess Talamantes, as well asother local organizations,in support ofthis
milestone.

ARS Javakhk Fund Starts Coin Bank Preparations with Help of AYF

Special thanks to the AYF Glendale “Roupen” and La Crescenta
“Zartonk” Chapter members, including Gasia Boghigian, Naz Papazian,
Yeprem Chavdarian, Palig Kodjanian, Verginie Touloumian, and Aleena
Sivazlian, who volunteered to prepare the coin banks, which are
distributed annually to students of Armenian schools as part of the
ARS Javakhk Fund Committee’s fundraising efforts to benefit ARS Youth
Centers in Javakhk (Georgia).

ARS “Gars” Chapter Enjoys Holiday Season with Christmas Luncheon

ARS Santa Monica “Gars” Chapter members and guests gathered at the
Bistro Garden at Coldwater on December 7, 2011 for a festive and
lively Christmas luncheon.Over 150 guests enjoyed the luncheon program
and musical entertainment. Part of the proceeds from the chapter’s
event will benefit children with speech disorders in Yerevan, Armenia
(schoolno. 8).

Qoute: “Be a yardstick of quality. Some people aren’t used to an
environment where excellence is expected.” ~ Steve Jobs

Save these Dates for Regional Programs

Hindoyan Christmas Party To Benefit the Youth Forum: December 28, 2011
at 7 pm; Contact (818) 500-1343

March 17, 2012: LA 5K Run/Walk
March 18, 2012: LA Marathon

March 18, 2012: Javakhk Fund Cruise

April 27, 2012: ARS Banquet

May 5-6, 2012: 11th Annual ARS Day & Armenian Festival

http://ars1910.org/
http://www.facebook.com/arswusa

Robert Kocharyan’s Boomerang

ROBERT KOCHARYAN’S BOOMERANG
HAKOB BADALYAN

Story from Lragir.am News:

Published: 11:42:07 – 29/12/2011

The solemn ceremony of honoring the Armenian athletes organized
by the BHP leader Gagik Tsarukyan, the president of the National
Olympic Committee, was naturally attended by Serzh Sargsyan, as well
as Robert Kocharyan.

Robert Kocharyan has not participated in public events, even in the
celebrations of independence. He said he was out of the country.

What made Robert Kocharyan come out of “shadow” and take part in this
ceremony? Was it his love for sports, or are there other reasons? If
the reason is his interest in sports, it means he cares for sports
more than for the independence of Armenia. But it would hardly be so.

Apparently, there are other reasons, most probably political. The
event is not political but the country is entering the heated
political season where everything is politicized, even children’s
festivities. For example, Mayor Taron Margaryan wished Happy New Year
to children of a kindergarten on candies and signed as board member
of the Republican Party.

What is the political part of Robert Kocharyan’s participation in the
honoring event of athletes? The fact that he was not in the country
on the Independence Day but attends this ceremony is already politics.

Besides, interesting events are happening in the political field and
Robert Kocharyan tries to show with his appearance that he will not
keep a distance.

However, it is uncertain where Robert Kocharyan will be. Will he be
in Serzh Sargsyan’s team or will he try to form his own team? This
question has been asked since Kocharyan left office. Kocharyan does
not specify where he will be and what his political position is. First
he hints that he agrees with Serzh Sargsyan, then he criticizes his
economic policy and boycotts the Independence Day, and then appears
beside Serzh Sargsyan in a ceremony.

It is possible that Robert Kocharyan was beside the Bargavach
Hayastan Party to accompany Gagik Tsarukyan in his encounter with
Serzh Sargsyan. Moreover, the latter has been a little aggressive
towards Gagik Tsarukyan, pointing out achievements in football and
chess against failure in other sports. As we know, Gagik Tsarukyan
has no relation to football and chess.

In other words, Serzh Sargsyan tried to enter other’s “monastery”
with his “rules”. Robert Kocharyan felt such prospects and accompanied
the owner of the “monastery”, perhaps showing that he is never going
to leave the BHP alone and he will always support Tsarukyan.

If Kocharyan felt the necessity for this step, he surely felt the BHP
is weakening and any pause could be fatal. Besides, Kocharyan sees that
Sargsyan manages to concentrate power in his hands. Possibly, this
is the reason why Kocharyan appears, trying to make a psychological
influence on the authorities, to display that Serzh Sargsyan is not
the only lord of the situation.

Kocharyan has been making such reminders since 2008. He held interviews
and made statements but the system seems to have developed an immune
system to oppose such psychological attacks because Kocharyan has never
expressed his intentions and projects. The system is apparently tired
of indefinite hints by Kocharyan because they hinder the establishment
of relationships between Serzh Sargsyan and a lot of other people.

They are facing both Serzh Sargsyan and Kocharyan. So, they fail in
establishing relations with both. Serzh Sargsyan holds de jure power,
as well as the greater part of de facto power but the indefinite
psychological attacks by Kocharyan can disturb the system and make
it nervous, producing a boomerang effect for the second president.

http://www.lragir.am/engsrc/comments24738.html

Q&A: Armenian Genocide Dispute

Q&A: ARMENIAN GENOCIDE DISPUTE

BBC
29 December 2011 Last updated at 10:29

The mass killing of Armenians by Ottoman Turks during World War I
remains a highly sensitive issue.

Turkey has resisted widespread calls for it to recognise the 1915-16
killings as genocide, while historians continue to argue about the
events. At the time there were numerous reports of Turkish atrocities
committed against the Armenians.

What happened?

There is general agreement that hundreds of thousands of Armenians died
when the Ottoman Turks deported them en masse from eastern Anatolia
to the Syrian desert and elsewhere in 1915-16. They were killed or
died from starvation or disease.

The total number of Armenian dead is disputed. Armenians say 1.5
million died. The Republic of Turkey estimates the total to be 300,000.

According to the International Association of Genocide Scholars
(IAGS), the death toll was “more than a million”.

In a letter to Turkish Prime Minister Recep Tayyip Erdogan in 2005
the IAGS said “we want to underscore that it is not just Armenians
who are affirming the Armenian Genocide but it is the overwhelming
opinion of scholars who study genocide”.

What is genocide?

Article Two of the UN Convention on Genocide of December 1948 describes
genocide as carrying out acts intended “to destroy, in whole or in
part, a national, ethnic, racial or religious group”.

Were the killings systematic?

The dispute about whether it was genocide centres on the question of
premeditation – the degree to which the killings were orchestrated.

Many historians, governments and the Armenian people believe that
they were; but a number of scholars question this.

Raphael Lemkin, the Polish-Jewish lawyer who coined the term “genocide”
in 1943, referred to the atrocities against Armenians as well as the
Nazi massacres of Jews when describing his investigations.

Turkish officials accept that atrocities were committed but argue that
there was no systematic attempt to destroy the Christian Armenian
people. Turkey says many innocent Muslim Turks also died in the
turmoil of war.

What was the political context?

The Young Turks – an officers’ movement that had seized power in 1908 –
launched a series of measures against Armenians as the Ottoman Empire
was crumbling through military defeats in the war. The Young Turks –
calling themselves the Committee of Unity and Progress (CUP) – had
entered the war on Germany’s side in 1914.

Turkish propaganda at the time presented the Armenians as saboteurs
and a pro-Russian “fifth column”.

Armenians mark the date 24 April 1915 as the start of what they regard
as the genocide. That was when the Ottoman government arrested about 50
Armenian intellectuals and community leaders. They were later executed.

Armenians in the Ottoman army were disarmed and killed. Armenian
property was confiscated.

Was anyone held to account?

Several senior Ottoman officials were put on trial in Turkey in 1919-20
in connection with the atrocities. A local governor, Mehmed Kemal,
was found guilty and hanged for the mass killing of Armenians in the
central Anatolian district of Yozgat. The Young Turks’ top triumvirate
– the “Three Pashas” – had already fled abroad. They were sentenced
to death in absentia.

Historians have questioned the judicial procedures at these trials,
the quality of the evidence presented and the degree to which the
Turkish authorities may have wished to appease the victorious Allies.

Who recognises it as genocide and who does not?

Argentina, Belgium, Canada, France, Italy, Russia and Uruguay are
among more than 20 countries which have formally recognised genocide
against the Armenians.

The European Parliament and the UN Sub-Commission on Prevention of
Discrimination and Protection of Minorities have also done so.

The UK, US and Israel are among those that use different terminology
to describe the events.

In 2006, Turkey condemned a French parliamentary vote which would
make it a crime to deny that Armenians had suffered genocide. The
bill did not become law – but Turkey suspended military ties.

In December 2011 some MPs in France’s ruling centre-right party,
the UMP, revived the bill and it was adopted again, despite Turkish
government outrage. It still requires a vote by the upper house,
the Senate, to become law.

Under the bill, those publicly denying genocide would face a year in
jail and a fine of 45,000 euros (£29,000; $58,000).

Turkey froze political visits and joint military projects in
retaliation.

In March 2010, Turkey withdrew its ambassador to Washington after a
US congressional committee narrowly approved a resolution branding
the killings as “genocide”. The House Foreign Affairs Committee
endorsed it, despite the objections of the White House. Barack Obama’s
administration has called for the resolution not to be “acted upon”
by the full Congress.

What is the political impact of the row?

The killings are regarded as the seminal event of modern Armenian
history, binding the diaspora together.

Armenians are one of the world’s most dispersed peoples.

In Turkey, public debate on the issue has been stifled.

Article 301 of the penal code, on “insulting Turkishness”, has been
used to prosecute prominent writers who highlight the mass killings of
Armenians. Among them were Nobel laureate Orhan Pamuk and Hrant Dink,
who was later shot dead in January 2007. A teenage ultra-nationalist,
Ogun Samast, was jailed for nearly 23 years in July 2011 for murdering
Dink.

The European Union has said Turkish acceptance of the Armenian genocide
is not a condition for Turkey’s entry into the bloc.

Are Armenia-Turkey relations still frosty?

After decades of hostility there has been a slight thaw. Turkey
and Armenia signed a deal in October 2009 to establish diplomatic
relations and open their border.

But the deal is yet to be ratified by either parliament, and some in
Ankara accuse Armenia of trying to alter the terms of the deal.

A complicating factor is mutual suspicion over the frozen
Nagorno-Karabakh conflict. Turkey backs Azerbaijan in the dispute
over Nagorno-Karabakh, a territory inside Azerbaijan held by ethnic
Armenians since a war in the 1990s.

Authorities Convinced The West

AUTHORITIES CONVINCED THE WEST
Siranuysh Papyan

Story from Lragir.am News:

Published: 11:26:39 – 27/12/2011

Our interlocutor is President of Yerevan Press Club Boris Navasardyan

Mr. Navasardyan, today, many speak of the lack of any policy or its
emptiness, saying that everything is just imitation of policy. Do
you agree that our political thought failed to complete?

If saying political content we mean that all political forces
should have programs, a strategy and should clearly understand what
country model they want to build, then I agree, because the election
campaign in Armenia is not a campaign of programs but of administrative
resources and control of masses. I mean, if you don’t have resources,
you can lead controllable masses to the square and achieve your goals.

Describing the policy more modestly, then for the government it is the
fight and working out of ways to fulfill the government’s functions,
for the opposition it is the strategy to fight for becoming power
and strengthening positions. This kind of policy exists in Armenia
and it is not imitation because we have quite serious actors in the
political arena who can take decisions and act independently. This
can be called policy.

So, can we state the agendas of political forces lack the society’s
interest and the mechanism of not loving the power and the opposition
comes from this?

I can definitely say that the public interest is very little expressed
in political stances. The main political forces don’t see the direct
connection between their ensuring the public interest and gaining
dividends. This is a serious issue and can be explained by that fact
that it is not the society to form the political arena, choose the
leaders, impose demands and require their implementation, but the
political leaders offer themselves to the society, and the latter,
under the complete lack of election mechanisms, is forced to choose
any of the existing leaders and follow them having no mechanisms to
influence the future activities of the leader.

Is seeking leaders a task of the society? And is the scarcity of
leaders a matter of the society’s weakness?

I would not say weakness, but unfortunately, the Armenian society is
not educated in terms of politics to work out mechanisms of dictating
its will, interests and wishes to the leaders. Let’s be objective
and understand in what society we live in and what we inherited.

Everything is done inside the political field and first of all by
the authorities for no other alternative force, which would like
to rely on the society and try meeting the society’s interests,
have any possibility for self-expression. For the formation of such
a political force, a free competitive field and accession to media is
necessary, especially television, it is necessary to authorize rallies
not after great scandals and under the pressure by the international
organizations, but to ensure the freedom of gathering just from the
beginning. In other words, provide possibilities for the opposition
to self-express and offer itself to the society as the fulfiller of
their wishes (such situations happen in Armenia for a limited period).

Unfortunately, in Armenia it is normal when political forces have
no such opportunities. In this case, the mechanisms of connection
between the political forces and the society don’t function.

There is an opinion that we lost the winning haze in 2011, and
something new is necessary to be proposed to the society.

2011 was an interesting year in terms of the political analyses. I
would not say that the political forces proposed something to
the society, even if they did, it was done through mediation. The
implemented “creative” work was mainly within the government because
the conscience that it is impossible to go on this way matured there.

Today, it would be wrong to deny the existence of this conscience,
and in terms of preparing reforms, our authorities are orientated
first of all towards international partners. This implies that it is
necessary to prove to the European Union and the U.S. that we will
have a different country in terms of the quality after the election
processes which will be the fairest and the most democratic in the
modern history of Armenia. It is strange and sad that the interests of
the society are better presented by the international community, which
plays the role of the effective mediator between the Armenian nation
and the government. At this moment, I can say that the authorities
convinced the West. In fall, I had numerous opportunities to attend
discussions with the participation of Western experts, officials
and political figures, who said they were inclined to believing the
Armenian authorities’ decisiveness to change everything.

Does the society have any choice? There have been no new proposals.

I agree that there is no new proposal, but there is choice based
on the former proposals too. Anyway, the society has choice always
because election is held through various factors: either you trust
unconditionally a political force and follow it, or you make a tactical
choice, taking into account what kind of division of forces you want
to see, say, in the parliament because not obligatory the force of
your dreams should be present in the parliament. The important is to
have counterbalance because in this case you can hope for discussion
and solutions based on consensus. In these terms, this is one step
forward of the situation we have had until now, when the coalition
was formed based on personal interests.

http://www.lragir.am/engsrc/interview24709.html

Turkey Imposing Economic Sanctions Against France Could Risk Its EU

TURKEY IMPOSING ECONOMIC SANCTIONS AGAINST FRANCE COULD RISK ITS EU BID

epress.am
12.27.2011

The Turkish Central Bank could withdraw its nearly 23 billion euros
of reserves from France after the EU member’s recent move to fine
any denial of the Armenian Genocide in 1915, economists say. However,
such a sharp move could risk Turkey’s EU bid, they add.

“The Central Bank could withdraw its reserves from France as part of
its economic sanctions in the future,” Erol Katırcıoglu, professor of
the economics department of Istanbul Bilgi University, said yesterday,
the Hurriyet Daily News reports.

“Looking at the steps taken by the Turkish government and the tone
of the political rhetoric, we can expect such a move,” Katırcıoglu
told the Hurriyet Daily News in a phone interview yesterday. However,
such a move would strengthen opponents to Turkey’s EU membership bid
and denounce Turkey as an “unreliable partner.”

It is the right of Turkey to withdraw its reserves from France,
according to Kerem Alkin of Istanbul Commerce University. “This might
not hurt the French economy but will prove Turkey is serious about
sanctions,” Alkin said.

Turkey’s Central Bank has its second highest reserves in France with
28.8 billion liras, following the United States with 48.6 billion
liras, reports the Daily News.

“The French economy might face serious difficulties if the Turkish
Central Bank withdraws reserves, as most of it is in French
government bonds,” said Mehmet Usta, deputy chair at Bank Aktif,
who also served as general manager at Banque de Bosphore in France
between 1994 and 2007.

Noting the rising need for liquidity in France due to the ongoing
European debt crisis, “Turkey’s investment in the country would still
play an important role economically if France could not compensate
the amount from any other source immediately,” he said.

Yet, responding to Daily News questions, Yucel Yazar, press counselor
of the Central Bank, declined to comment on the issue. “Our data is
open for everyone and clear enough, unfortunately we cannot comment
on this issue now,” Yazar said.

Turkey might impose additional economic sanctions against France if
the country insists on accepting the bill punishing any denial of the
Armenian Genocide at the French Senate, on Dec. 23 said Ali Babacan,
Turkey’s deputy prime minister.