"Turkish extravaganza -- worth a billion dollars
Wednesday, March 9, 2005
Equilibrium by Burak Bekdil
BURAK BEKDIL
Foreign direct investment in European Union-candidate Turkey was a mere $8 million in January. A billion dollars is not a negligible sum for any emerging market that lures so little foreign investment. It is for Turkey.
Well, in official language, the U.S. decision to redirect a $1 billion grant allocated to Turkey �is a clear indicator of the development the Turkish economy has shown in recent years.� That's for public consumption at a sensitive time between former strategic partners Ankara and Washington. In practical language, however, the government and opposition benches in the Turkish Parliament altogether owe their electorate a net $1 billion."
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