'OYAK Should Go Separate Ways with Axa'

October 15, 2005
Zaman Daily Newspaper
By Economy News Desk

The French Insurance giant, AXA’s, announcement to pay compensation to the Armenians [...] drew great reactions.

The French company owns 50 percent of AXA-OYAK ( the Turkish Armed Forces Pension Fund) partnership in the Turkish insurance sector, which added a new dimension to the issue. Non-governmental organizations asked OYAK to give an end to the partnership. [...].
[...]
Regarding OYAK’s French partner’s acceptance to pay compensation to the Armenians with the allegation of "genocide," BBP {Grand Union Party } leader Muhsin Yazicioglu said it was "a very serious situation;" paying compensation can be considered natural in legal terms he said, but that making this payment under the name of genocide is thought-provoking.
[...]
Ankara Chamber of Commerce (ATO) Chairman Sinan Aygun said the issue of forced migration will develop against Turkey if OYAK's French partner AXA pays the compensation to the Armenians. Aygun, who defended that this must not be allowed since the rest will follow, said: "The result of the compensation will mean that Armenia's dream has come true. Here AXA agrees to pay the compensation before the decision is ratified by the court. In other words, it accepts the Armenians claims. I strongly condemn this." The OYAK Group, he further said, must immediately step in and say "We have documents that Armenians massacred the Turks" and prevent paying the compensation.


Note: Above are excerpts from the article. The full article appears here. Clarifications and comments by me are contained in {}. Deletions are marked by [...]. The bold emphasis is mine.