The Great Divergence

TURKEY - Report 21 Dec 2014 by Murat Ucer and Atilla Yesilada
Executive Summary The old year departs with two important political events in tow. The Constitutional Court will rule whether the 10% election hurdle is fair. We can’t handicap the ruling, but if the hurdle is struck down, a frenzied rush will be triggered to replace it with new legislation, drawing markets’ attention to June general elections. A parliamentary inquiry into the affairs of 4 ex-ministers ought to result in a motion to impeach them for corruption, but AKP deputies will stand by their comrades, burying the charges. These are truly historic days in Turkey’s long drawn-out Peace ...

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