Turkey

Priceless value of Turkey’s partnership – Daily Sabah

If both the U.S. and the EU were not following double standards in their ties with Turkey and lent the importance to the country that it deserves, today’s alliances would be much more powerful.

Turkey’s redlines were ignored many times by both the EU and the U.S. For example, the Greek Cypriot administration violated all international norms and agreements by rejecting the U.N. plan for Cyprus; however, it was still accepted as an EU member. However, this very EU created many obstacles for Turkey’s membership process.

Turkey’s Frantic Gold Rush Points to a Financial Crisis Ahead – The National Interest

Ultimately, the demand for gold reflects the realities of political and economic life in Turkey. On the one hand, citizens try to preserve what little wealth they have. On the other, a predatory political elite seeks economic gain amid the chaos.

In all likelihood, ordinary Turks will bear the brunt of their government’s ill-advised economic policies and machinations involving gold. If the currency crisis deepens, then Erdogan may have to ban FX deposits and convert citizens’ savings at an “official”— i.e., below-market—exchange rate, letting hyperinflation and negative real rates do the work. On Nov. 20, Erdogan asked Turks to “register whatever you have under the pillow, both abroad and domestically, without any question.” It is unlikely that many Turks will respond.

Biden appoints staunch Turkey critic Brett McGurk to National Security Council – Middle East Eye

In 2017, Turkish Foreign Minister Mevlut Cavusoglu openly called for McGurk’s removal. “Brett McGurk, the USA’s special envoy in the fight against Daesh [IS], is definitely and clearly giving support to the PKK and YPG. It would be beneficial if this person is changed,” Cavusoglu said at the time.

A Turkish official told MEE after McGurk’s nomination was revealed by US media reports earlier this week that the appointment was not surprising since Biden was gathering former Obama administration officials with “awful” track records to fill up national security positions. 

“Beyond doubt, McGurk has harmed Turkish-American relations,” the official, speaking on condition of anonymity, said. “He no longer has much room in northern Syria to support the YPG. But his attitude towards other issues in the region from Libya to Iraq remains to be seen.”

Whereabouts of former minister Albayrak subject of speculation, jokes among Turks – Turkish Minute

Turkey’s Former finance minister, Berat Albayrak, who is also the son-in-law of President Recep Tayyip Erdoğan, has not appeared in public since his unexpected resignation from office in early November, leading to widespread speculation as well as jokes about his whereabouts. In a surprise move on Nov. 8, Albayrak stepped down, citing health reasons, in …

Whereabouts of former minister Albayrak subject of speculation, jokes among Turks – Turkish Minute Read More »

Sarraj Heads to Rome Again as Turkey ‘Summons’ his Senior Military Officials – Asharq AL-awsat

Libya has witnessed a flurry of developments in recent days, capped on Thursday with Government of National Accord (GNA) chief Fayez al-Sarraj’s surprise visit to Rome – his second in a month. Italian media noted that the two-day visit was supposed to have been a formal trip. Sarraj was then expected to then travel to …

Sarraj Heads to Rome Again as Turkey ‘Summons’ his Senior Military Officials – Asharq AL-awsat Read More »

Eyes don’t lie: Erdoğan, Bahçeli meet amid big problems – Yetkin Report

President Tayyip Erdoğan paid a visit to Nationalist Movement Party (MHP) leader Devlet Bahçeli, the election partner of his ruling Justice and Development Party (AKP) at his home. This was the third contact of the leaders of the People’s Alliance in a week. The first meeting was held in the Presidential Palace, before an award ceremony on Dec. 30, 2020. The second was on the phone calls on Dec. 31. No official statement was made on the content of the talks. However, looking at the leaking backstage information and the problems on the country’s agenda, it is not hard to guess that they are having difficult times and this was seen in their expressions and body language. Eyes do not lie.

I am not going to make a “crack” analysis of Erdoğan and Bahçeli’s looks, stances, and the way they said goodbye to each other. Still, it is obvious that the new year did not take a happy start for the two leaders and they are aware that there are serious problems on the desk of Turkey’s ruling alliance. And what are these problems?

Turkish hotels in fire sale – BNE IntelliNews

Around 2,000 Turkish hotels and other tourist facilities, from the 5-star to the boutique, are reportedly presently on sale on online platforms. A total of 86 new adverts for the sale of hotels in Turkey were uploaded on popular e-commerce platform Sahibinden.com in the first two days of 2021. Turkish daily Sozcu defined the situation as reflecting …

Turkish hotels in fire sale – BNE IntelliNews Read More »

Anti-Turkey rhetoric within EU sabotages bloc’s future, ruling AK Party says – Daily Sabah

Whoever speaks against Turkey in the European Union actually seeks to destroy Europe’s future, the spokesperson for Turkey’s ruling party said Monday. Accusing some European leaders of taking a different approach when trying “to cause disturbances in Turkey,” Justice and Development Party (AK Party) spokesperson Ömer Çelik said after a meeting of the party’s Central …

Anti-Turkey rhetoric within EU sabotages bloc’s future, ruling AK Party says – Daily Sabah Read More »

Turkey’s Slow-Motion Economic Crisis – Project Syndicate

Banks cannot engineer a balance between exchange rates and interest rates in a country with free capital flows, where banks’ funding conditions are affected by the global economic environment and by country risk. As Turkey has demonstrated, using banks for this purpose destroys both internal and external economic balances. ISTANBUL/WASHINGTON, DC – No one should …

Turkey’s Slow-Motion Economic Crisis – Project Syndicate Read More »

Turkish police clash with students protesting Erdogan-appointed university head – Reuters

ANKARA (Reuters) – Turkish police clashed on Monday with students who protested against President Tayyip Erdogan’s appointment of a new rector at one of the country’s top universities, saying the process was undemocratic. In a decree published on Saturday, Erdogan appointed Melih Bulu, who has a doctorate in business management, as rector of Bogazici University …

Turkish police clash with students protesting Erdogan-appointed university head – Reuters Read More »

(Out in the) cold Turkey – Eurasia Group | Top Risks for 2021 – Risk 7

Turkey narrowly averted a financial crisis at the end of last year. But Ankara’s fix was a Band-Aid and won’t last through 2021. President Recep Tayyip Erdogan approved a shift to more orthodox monetary policy in late 2020 with the appointment of a credible team and pro-market measures. Markets have given Turkey the benefit of …

(Out in the) cold Turkey – Eurasia Group | Top Risks for 2021 – Risk 7 Read More »

Turkish inflation is really 36.7 percent, research group says – Ahval

Turkey’s annual consumer price inflation rate was 36.7 percent last month, far higher than official claims, said ENAGrup (ENAG), an independent institution set up last year to track the country’s inflation. Inflation in Turkey accelerated to 14.6 percent in December from 14 percent the previous month, the Turkish Statistical Institute (TÜİK) said on Monday. ENAG …

Turkish inflation is really 36.7 percent, research group says – Ahval Read More »