Saying goodbye to Ali Babacan

Deputy Prime Minister Ali Babacan, who entered the 58th government in 2002 as the youngest cabinet member and sat at the seat of state minister responsible of economy at the age of 38, has been replaced by Cevdet Y?lmaz, who was the minister for development.

I found the occasion to listen to Babacan, who has continued his responsibility for 13 years in five governments, for the first time in the 2002 Davos World Economic Forum.

I recall his speech on Turkey?s economy was nearly identical to the speech delivered by Kemal Dervi? in the previous year at the same place.

Babacan became the most influential name to represent Turkey in Davos uninterrupted for the years following 2002.

Babacan was the irreplaceable name of the European Union panels in Davos in the years when hopes for Turkey?s accession to the bloc were still alive.

He is a name trusted by international finance circles, foreign business people as well as foreign politicians.

When I went to Sydney for the meetings of finance ministers and central banks governors during Australia?s G-20 presidency, I recall how General Secretary of OECD Angel Gurria talked of Babacan with praise.

Similarly, Timothy Adams, the head of the International Finance Institute who visited ?stanbul during Turkey?s G-20 presidency, had said he had known Babacan for many years and added that that ?the G-20 is among well-deserved hands and Ali Babacan is an important name as far as credibility and trust is concerned.?

G-20?s veteran politician leaves before Turkey?s presidency ends

Before Turkey?s G-20 presidency ended, Babacan, the ?G-20?s most veteran politician? (in his own words), was replaced by a name that international finance and business circles are...