Turkey

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Turkey faced with Greece’s EU membership and diaspora – eKathimerini.com

Last week, the Turkish minister of defense once again denounced what he perceived as Greek attempts to reframe Greco-Turkish disputes as wider disputes between Turkey and third parties, powerful countries or regional entities. Speaking during joint military exercises with the participation of Turkish and Azeri forces, Hulusi Akar called on Greece to “stop presenting Greco-Turkish …

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Erdogan threatens Mitsotakis – eKathimerini.com

Recep Tayyip Erdogan’s habit of lashing out at foreign leaders, including Greek ones of course, is hard to understand sometimes; the Turkish president obviously feels that he is invincible and has the right to insult and threaten whomever he chooses. Kyriakos Mitsotakis became the most recent target of his ire, when, in a speech to …

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Turkey not the same as in 2000 or 2016, Dendias says | ekathimerini.com

Ahead of the imminent exploratory contacts with Ankara, Foreign Minister Nikos Dendias said in an interview with Kathimerini that Athens will have a constructive disposition, but stressed he is worried that Turkey is neither the country of the early 2000s that harbored European ambitions nor that which engaged in these talks in 2016. “Of course, no one …

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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.

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 …

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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 …

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(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 …

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Turkish inflation up more than expected to 14.6% – Reuters

FILE PHOTO: People wait in line to buy vegetables sold in a tent set up by the municipality in the Bayrampasa district of Istanbul, Turkey, February 11, 2019. REUTERS/Murad Sezer ISTANBUL (Reuters) -Turkish inflation edged higher than expected to 14.6% year-on-year in December as food costs jumped, official data showed on Monday, keeping pressure on …

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‘Global Britain’ is willing to trade away everything. Including scruples – The Guardian

The UK’s new trade agreement with Turkey, signed last week, ignores the Turkish government’s continuing human rights abuses, boosts its dangerous president, and undermines ministerial pledges that “global Britain” will uphold international laws and values. The deal took effect on 1 January without even rudimentary parliamentary scrutiny. Here, stripped of lies and bombast, is the …

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When Historical Fiction Is a Crime – The New Republic

Ahmet Altan, one of Turkey’s most skillful historical novelists, lives in solitary confinement in a cell four meters long, at Silivri Prison, Europe’s largest penal facility. In I’ll Never See This World Again, his fifteenth book, and the first he wrote from prison, Altan recalled the passing comment of a judge who held the author’s fate in …

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What Will Biden Do About Turkey’s President Erdogan?

There’s a feverish discussion under way among foreign policy experts on what the President-elect should do about Turkey. It really has to be high up on his list of urgent worries, they seem to believe. Not least because Donald Trump’s approach was so incoherent and so apparently unfocused. That is, other than his rather arbitrarily …

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Turkey, Iran, Pakistan rail link to China’s Belt and Road – Nikkei Asia

KARACHI — The governments of Turkey, Iran and Pakistan will revive a transnational rail service linking Istanbul, Tehran and Islamabad in 2021. The ITI transnational railroad is expected to enhance connectivity with China’s Belt and Road Initiative (BRI) by providing a rail connection between China and Turkey, Nikkei Asia has learned. The roots of this …

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