New allegations of corruption by Erdogan & Son rocks the markets

TURKEY - In Brief 16 Jan 2014 by Atilla Yesilada
The war between AKP and the Gulen movement is escalating by the minute. Today, a third wave of arrest warrants centering on the AKP-held Beyoglu municipality of Istanbul were not carried out by police chiefs. AKP took the hatchet to the judiciary rotating more than 30 judges and prosecutors believed to be affiliated with GM to smaller provinces. The war is also heating up in the media space, where the week began with leaks of Gulen phone conversions with top names in Koc, Sabanci and Ciner Holdings. These recordings appear in the Internet for a few hours, before the websites are shut-down or hacked, so we couldn’t access them. GM spokespersons claim that it is only natural for business leaders to seek guidance from the pastor, but according to media reports, Gulen was commenting on AKP in negative words and fixing business deals. Having run out of his extensive vocabulary of insults, Erdogan dug into the history books to call the Gulen Movement “hashashin”, probably the root word for assassin, a 13th Century Shia gang of drug-crazed goons. The reply came via TV channels. The police had recorded Erdogan with important names in the construction industry discussing amending zoning laws to raise the value of certain lots of real estate. His son Bilal was photographed entering the office of Istanbul Municipality construction subsidiary Kiptas to arrange yet another shady real estate deal. The tapes apparently also reveal his alliance with terror financier Yasin al Kadi, but I couldn’t watch those portions on TV. The data is imperfect and incomplete but I think the weakness in the TL-denominated markets is not related to foreign funds bailing out. It may be domestics nearing...

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