Giff 2012: Central bank action enables Europe to reverse fiscal austerity, says Turkish deputy prime minister

Ali Babacan at Central Bank of Turkey

Extraordinary monetary policy measures taken by the world's major central banks, notably the European Central Bank (ECB) and the Federal Reserve, have created "a window of opportunity" for governments to steer their economies back to growth, according to Ali Babacan, deputy prime minister of Turkey.

Babacan used a speech at the Global Islamic Finance Forum in Kuala Lumpur today (September 19) to state that some countries in Europe should abandon fiscal austerity efforts that do not appear to be

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