Opening Vissering exhibition Ankara

Thank you Sayın başkan. I feel honored to open this exhibition together with you, an exhibition that covers a small but important episode in our mutual histories. And it really gives me a warm feeling that our Turkish counterparts express such a keen interest in the mission by my predecessor, Gerard Vissering, to Türkiye, now almost 100 years ago.

As you know, in 1928 Vissering was invited by the government of the new Turkish republic to advise on the reform of the monetary system. He stayed in Türkiye for three weeks, and delivered a report that would contribute to the establishment of the Turkish central bank. Over the past months people from our two central banks and from the Dutch embassy worked together to make an exhibition to commemorate that event.

Key in Vissering’s advice was that the new central bank should be robust, with a strong reputation for stability and expertise, and independent of the government. Almost 100 years later, his advice is still relevant for central banks all over the world. He would no doubt have been pleased to see that today’s Turkish central bank is putting his advice into practice.

In recent years, both our central banks have been dealing with high inflation. I have been watching in admiration how you have been attacking the inflation challenge head-on lately. And with results. Inflation has come down significantly. I think this is an accomplishment that should not be underestimated. As the central bank’s credibility grows, inflation expectations will decline over time. In the long run, this will reduce the economic cost of future disinflation policies. For the people of Türkiye this means: a more stable economy, more jobs and more prosperity.

Thanks to the preparations for this exhibition, we discovered a lot of new facts about Vissering’s mission. From his diary and letters it becomes clear that Türkiye really stole his heart. He was mesmerized by the city of Ankara, which was developing very rapidly at that time and which according to Vissering was “buzzing with energy”.

As we delved deeper into the journey of Gerard Vissering, it became clearer and clearer to me that his mission is just another example of how we, economic policy makers, need each other’s help to pursue sound economic policies and face common challenges. Also today. That’s why encounters like these are so important. And that’s why I am thrilled to meet with so many of you here today. I thank you for your hospitality and I want to say a special word of thanks to all those who have made this exhibition possible. I cannot wait to see the exhibition!