Optics vs reality, redux
The politics author steps away from the topical stuff in this round, trying instead to find answers to the question of how far and long President Erdogan can be trusted to pursue orthodoxy. His answers are speculative and tentative, but he proposes 4 scenarios ranging from best to worst. For those who don’t have time to read long essays, here is the gist of it: If Erdogan can convince the EU to open negotiations on a new and expanded Customs Union treaty, ask no further.
On the econ front, we say a bit more on the MTP -- on which we’ve reported during the week -- including a quick and rough look at Turkey’s near-term external financing requirement, go through the recent data releases -- namely, the cash budget and preliminary trade balance for August -- and review, as usual, the latest reserve data.
The illegitimate child of the Global Source Partners Turkey family, Cosmic Strategist makes a very uninvited return, sharing His views on when Turkey may become investable once again.
Now read on...
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