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In-Briefs

Turkey/France: Ankara Furious Over Armenian Genocide Bill

December 19, 2011
| Economics
| Europe

The Turkish Foreign Minister Ahmet Davutoglu warned more than 20 local executives of French companies against passage of a bill scheduled to be voted on by the French Parliament this week making it a crime to deny that Ottoman Turks committed genocide against its Armenian population in 1915 . . . the bill would incur a maximum of a one year prison sentence and a fine of almost $60,000 . . . Turkish Prime Minister Recep Tayyip Erdogan called upon French President Nicolas Sarkozy to block the vote . . .. . . Turkey cancelled a military contract with France in 2001 after it formally labeled the killings as a genocide . . . in 2006 Erdogan blocked Gaz de France SA’s participation in the $10.3 billion Nabucco pipeline over another French Armenia genocide bill . . . this issue has caused short-term tensions in French-Turkish relations since 2001 . . . Turkey will retaliate against France if the new bill passes . . . French automakers control a fifth of the Turkish market and French banks have assets exceeding $20 billion in Turkey . . . the French Parliament has tried to pass other bills in the past penalizing anyone who denies the genocide occurred . . . Ankara’s dramatic economic growth makes its threats of economic retaliation more potent than they were in 2006.

 
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