Acomparısıon of the European Central Bank and the Central Bank of the Republic of Turkey

Economic policy makers aim to achieve economic stability along with sustainable economic growth and economic development. In order to meet with these promises monetary policy has to be coordinated with public policy. Central banks are the main actors conduct monetary policy. In modern days, the most fundemental problem of the world economies is price stability. Central banks as the monetary policy makers and governments as the public policy makers put such policies into effect to achieve price stability.The European Union is one of important examples of integration movements in the world. Economic integration is one of the important steps of this movement. During the membership process, member states are expected to had some of their powers to the several institituions of the European Union. One of the institutions that assume handed powers is the European Central Bank. The European Central Bank and the European Central Bank System operate according to the laws determined by the member states. While all members have to follow these laws, candidate countries are also expected to follow the same laws.In this study, Turkey, after gaining the status of candidate country, to perform the full membership requirements for admission to membership under the laws of reconciling, which is legislated and will be legislated from the role of Central Bank, were examined with all the details. Changes, that were made, were evaluated generally and nature of the other reforms, that are being determined, was also evaluated separately. After all, Central Bank has the most important role to follow the Structural Adjustments Program. In this context, the Central Bank of Republic of Turkey is working to comply with the European Central Bank, one of the world?s most modern bank, in terms of institutional and policy applications. Despite the efforts, the adaptation process to the financial system and some of the necessary criterias for the integration of the European Central Bank could not be achieved yet. In this study, the efforts to ensure the compliance with the Europena Cental Bank and the chances of the success of these efforts were investigated.