Week of September 11

TURKEY - Report 11 Sep 2016 by Murat Ucer and Atilla Yesilada

We are now worried about domestic politics not necessarily because there is a witch-hunt or AKP is turning more authoritarian, but because the government might be losing control of the Gulenist purge. The country is becoming more chaotic by the day, with AKP staring down the threat of losing its unity or popularity.

Relations with the U.S. and EU are improving gradually, with Ankara finally grasping the importance of the Western alliance. In Syria, Turkish military is settling down for the long haul, as President Erdogan seems to have big dreams envisioning Sunni leadership. This is high-stakes poker, which might pay off splendidly or blow back. Nevertheless, believe it or not, it is an improvement over the previous policy stance.

The many data releases of the past week provided further evidence that growth is slowing, vulnerabilities are persisting and fiscal pressures are growing.

Cosmo says that Turkey has lost its much-vaunted economic resilience, which investors are likely to discount in the coming days. Market attention will shift from unsettled politics to the poor economic performance.

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2024 GlobalSource Partners. All rights reserved. This report is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This report is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this report or its contents.