Economic consequences of the recent earthquakes in Turkey and Greece

ABSTRACT

The recent massive earthquakes in Turkey and Greece - with the tragic major loss of life, injuries, trauma and physical damage they brought - have, hearteningly, mobilisied rapid and considerable international support both material and moral, including between the two countries affected. It is vital, says the report, that this assistance continue until reconstruction is complete. The report goes on to call for stricter construcion standards and quality controls in order to reduce the loss of life and damage in any future earthquake, in or outside the region. A European fund for urgent financial assistance in the event of natural disastes should be considered, as well rapid reaction capabilities unde the auspices of the OSCE. They should be supplemented by planning and co-ordination bodies at national and regional level, and possibly by worldqide readiness under UN auspices. Finally, the report pledges constant Assembly monitoring of the international aid effort to Greece and Turkey, in particular in its capacity as the parliamentary forum fo international financial institutions suchas the World Bank, the International Monetary Fund, the European Bank for Reconstruction an Development (EBRD) and the Council of Europe Development Bank. (AU)