DEVA Party Chairman Ali Babacan made evaluations regarding the current funding crisis while answering journalists' questions in the Turkish Grand National Assembly. Arguing that the CMB and Borsa Istanbul managements should be changed, Babacan stated that the board formed under the chairmanship of Vice President Cevdet Yılmaz cannot manage a crisis of this scale and said, "It is not a part-time job. A task force should be established to work on this job day and night."
Stating that the steps taken regarding the fund crisis are not sufficient to build trust, Babacan argued that the heads of supervisory institutions should resign or be dismissed.
Babacan said:
"Unfortunately, what has been done so far is not enough to create trust and confidence. In other words, some steps have been taken, but there are many things missing. In other words, there should not be this fear in the system. Will someone come along and cause trouble for us? The controllers should not have the fear of what if they touch this person now, they will do something to us. The controllers should be able to see this job through to the end, no matter who they get behind, no matter who they touch. One of the most important measures that should have been taken even earlier was this: The head of the institutions that manage this business People need to leave this job urgently. I mean, these are all the drivers who had an accident. Even if the driver is guilty or not, he cannot drive with the psychology and trauma of that accident. Therefore, the people in charge of these issues must be dismissed as soon as possible, or they must leave on their own, so that the system can work.
A delegation was formed under the chairmanship of the Vice President. But this is not a part-time job. I mean, let's look at it for an hour a day, not let me walk it. Or let's not meet once a week. The task force I mentioned should be a full-time task force that works day and night. We are talking about an issue that is so complex that even such a task force could take months. What needs to be done for this is to establish a task force as soon as possible, how will this crisis be managed with full authority? We are in the middle of the crisis now and how will it be resolved from now on? This structure needs to be formed urgently. It is necessary to urgently establish a task force consisting of experts in the field who do not know the capital market, who know banking, who know the state. There is no chance that the delegation headed by the vice president will be able to handle this task.
It is necessary to examine crises in three stages. It is obvious that the necessary precautions were not taken in the pre-crisis period. There is a crime in our CMB law that we call market fraud. As these things are excavated and the background is learned, we will probably see different examples of that market fraud. But before this happened, the fire had to be dealt with and extinguished while it was still small. Of course, it is very grave that this work has continued for such a long time, that this has been done with a blind eye or neglect, or in some way a partnership of interest.
The judiciary started to look into it. Now the State Supervisory Board has started to look into it. Parliamentary control would also be useful. In other words, it would be beneficial to examine this issue through an investigation commission in the Parliament. In other words, it would be beneficial if the judicial review, the audit of the executive bodies, that is, the State Supervisory Board, and the audit of the legislative body of the Parliament were carried out in three branches. Parliamentary auditing is because it is more open, takes place within the framework of wider public knowledge, and Parliamentary auditing is beneficial in terms of revealing the facts and transparency.
Begging for an election and the possibility of an election being brought forward... I always say it. Now, when we look at it this way, an election is now on the horizon. But how close is it? Will it happen in the spring of next year, in the fall, or in the spring of 2028? The authority that will now decide on this is either the Parliament or the President. The Constitution says so."
