Good tidings, we have another crisis

TURKEY - Report 21 Jan 2024 by Murat Ucer and Atilla Yesilada

Good tidings from Turkey, which after a hiatus of two and half weeks conjured up another “crisis” involving the CBRT Governor Ms. Hafize Gaye Erkan and her family. She is facing charges of nepotism and using Bank resources for personal use. This is a rapidly evolving story, which is difficult to make sense of, or generate predictions on, but her sacking is one of the plausible scenarios. Would that end any hopes for monetary orthodoxy?

Erdogan is singing battle hymns once again, threatening to invade even more territory in North-East Syria to prevent the establishment of a “Terror-stan” at Turkey’s borders. Is he serious? There are two scenarios where Turkish forces would pounce once again on hapless Syrian Kurds.

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