read the information they give you, and make sure you know everything about the terms of your loan. and shop around for the best deal. in addition to thinking carefully about the initial loan decision, it is important to periodically re - evaluate your debt position. sometimes the best way to invest your new savings is to pay down high - cost debt. another way to save money is to refinance your mortgage into lower interest rates. through the government ’ s “ home affordable refinance program ”, borrowers with mortgages through fannie mae or freddie mac can refinance their loans even if they owe more than the home ’ s current value. interest rates and mortgage underwriting are changing continually so i urge you to investigate this option on a regular basis. if you are unable to refinance your debt due to credit problems or if you are struggling signe - mary mckernan, caroline ratcliffe, and katie vinopal ( 2009 ), “ do assets help families cope with adverse events? ” the urban institute, http : / / www. urban. org / uploadedpdf / 411994 _ help _ family _ cope. pdf you ’ ve earned it! what the earned income tax credit can do for you can be found at www. stlouisfed. org / community _ development / assets / pdf / eitc - brochure. pdf american council on education, june 2005. bis central bankers ’ speeches to make payments, i encourage you to work with a non - profit housing counselor or debt counselor to identify possible solutions. conclusion it has been my pleasure to share my thoughts with you on this important topic. as you plan for your financial future, please keep in mind that planning is a process. you have taken the important first step in this process simply by being here to learn more about tools and resources available to help you and your family. but putting those tools to use is not necessarily easy. i know from first - hand experience that understanding the basics of nutrition doesn ’ t make it any easier to stay on a diet. but i also know from experience that making a plan and sticking to it brings real success whether in the form of a healthier lifestyle or in the form of a more secure financial future. and as i said at the outset, as we all work to improve our individual financial stability, we will ultimately build a stronger economy. i wish you all great success. bis central bankers ’ speeches

gazi ercel : the role of the euro from the turkish standpoint speech by mr gazi ercel, governor of the central bank of the republic of turkey, made during the 6th international financial and economic forum, held in vienna on 9 november 2000. * * * ladies and gentlemen, i would like to thank the organizers of this conference for inviting me to share my thoughts on the euro ’ s role as seen from the turkish point of view. of course, the introduction of the euro is affecting not only the economies that are members of the european union but also non - member economies that have close links with members. these include emerging market economies much of whose trade and financial transactions is with european union members. those whose external debt is largely denominated in european union currencies will be affected the most. even though turkey is not yet a member of the european union, it has close ties with countries that are. not only does turkey carry on a large volume of foreign trade with eu members, it is also the only candidate for membership that has entered into a customs union with the eu, signed at the end of 1995. turkey ’ s close relationship with eu countries and the present role of the euro in the turkish economy are illustrated by the following : • europe is turkey ’ s largest trading partner. in 1999, 54 % of turkish exports - $ 14. 3 billion - and 53 % of turkish imports - $ 21. 4 billion - went to or came from eu countries. • about 54 % of turkey ’ s official reserves consists of euro - 11 currencies and the euro itself. • the foreign exchange deposits belonging to turkish workers in other countries and held in the central bank of turkey amount to about 11 billion euros, almost 93 % of which is in the form of deutsche marks. • our external debt totals about us $ 106 billion, 34 % of which consists of euro - 11 currencies and the euro itself. • since 1 january 2000 the turkish treasury has borrowed via bond issues in the international capital markets a total us $ 7. 5 billion, 37 % of which is denominated in euros. • during the last five years, 60 % of direct foreign investments in turkey came from europe. • of the 9. 3 million foreign tourists who visited turkey during the first ten months of this year, 5. 1 million came from europe. given the breadth and depth of turkey ’ s relationship with the european union, it is no wonder that the euro and the