“Once the economic crisis is over, capitalism will be preserved as the main system. But there will be a transition to a form of capitalism where the former excesses will be reined in.” 

A form of capitalism with the old excesses reined in

Sinan Ülgen is an experienced risk management specialist who has been intimately involved in deciding Turkey’s position at the negotiations surrounding the most heated episodes of its EU adventure. According to Ülgen, world leaders are obliged to guarantee their citizens that a crisis similar to the present one will not re-emerge in thee to five years’ time. For some time now, they have been spending their citizens’ money, all the while asking them to endure the hardships. Providing such a guarantee will ultimately require a re-formulation of the international system. This design will have to set a balance between efficiency and consistency, between risk and return differently. With this in mind, it might be possible that this crisis will represent a turning point on the part of the capitalist system as well. Capitalism will be maintained as the main system, but there will be a transition to a form of capitalism in which the excesses are reined in. Ülgen offers consultancy on the reforms Turkey is going to implement in the upcoming period as part of its accession process to the EU, the transformations expected in critical sectors such as banking and energy, and the action steps Turkey should take to attract a higher level of investment.

Who is Sinan Ülgen?

After working as a technical consultant to Istanbul Metropolitan Municipality and completing his military service with the Turkish General Staff, he completed a graduate degree on European Union studies in 1990 at the College of Europe in Bruges, Belgium. He joined the Turkish Ministry of Foreign Affairs and worked for two years at the United Nations Department in Ankara. From 1992 until 1996, he served on the Turkish Permanent Delegation to the EU in Brussels, where he was involved in deciding Turkey’s position in negotiations regarding the Customs Union. In 1996, he was posted to the Turkish Embassy in Tripoli.