The legal analysis of independence of the central bank of the republic of Turkey in the process of accession to the European Union

Generally, ?the independence of central banks? means ?beingindependent from the political authority? in doctrine. The independence ofcentral banks can be defined briefly in this way: ?Government has no powerto influence the central bank.? According to this point of view, the centralbank is independent about its decisions and policies. As a reason of theincrease of the institutional and empiric studies about the independence ofcentral banks, thought of ?to create a more independent central bank? isgetting important. In this direction, all countries of the world are increasingthe degree of the independence of their central banks.Freedom of activity about taking independent decisions andimplementation of central bank can?t be in contradiction with the generaleconomy policy of the government and democracy. Central bank?sindependence directly assists the democracy to get stronger, because acentral bank ensures the strength of decentralized structure in economythrough his freedom of taking independent decisions and implementation.In these days, it?s not a coincidence that the countries havingindependent central banks are powerful from the standpoint of democracy.Actually, in the countries where the political stability is continual anddemocratic institutions are developed, the independence of central banks isincreasing. It?s sure that to give independence to central banks isn?t the onlyand sufficient way to solve the problems in economy, but it?s important andnecessary. Independence prevents the bank to be politicized through puttinga stop the careless and irresponsible interventions of the government.Independence of the central bank is a necessity for alleconomies. Countries should take into consideration their legal orders,culture of administration and traditions while they are defining the legalstatus, which will make the independence of central banks stronger. In thiscontext, Central Bank of Turkish Republic isn?t in the central administration,isn?t a cooperation in which the government is the majority stockholder, isn?t apublic bank and isn?t an independent administrative authority, therefore itslegal structure is totally sui generis.In these days, to be a member of EU with whom thenegotiations have started, it?s a structural necessity to get rid of the obstaclesabout the full-independence of Central Bank of Turkish Republic. Both thestudies of the organs of the central bank and studies of the government arethe biggest indicators to make the central bank involve in the Union.