Turkey and the European Union

The government of President Erdogan and the EU agree that they should talk again. A good step for sure. But will it amount to much? It is too early to say, but some observers say that both sides have lots to gain. For one politically open-minded friend in Istanbul, one thing is certain: Turkey’s advancesContinue reading “Turkey and the European Union”

Ray of Hope for New Economic Policy in Turkey

The change was rather abrupt: Recep Tayyip Erdogan exchanged his central bank governor and the finance minister both within a few days in November. Shortly after, interest rates were dramatically hiked to halt the fall of the Turkish lira. If he had planned to surprise the markets, he has succeeded, but observers still question hisContinue reading “Ray of Hope for New Economic Policy in Turkey”

Foreign Investors Feel the Pinch in Turkey

Turkish authorities in recent months have taken steps to reign in what they believe are activities that harm the Turkish economy. Global banks such as Goldman Sachs, Barclays and UBS have been sanctioned by the banking regulator and the Istanbul stock market. Observers say that the sanctions have come as a reaction to the weaknessContinue reading “Foreign Investors Feel the Pinch in Turkey”