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Thursday, May 18, 2006

ekathimerini.com | A nervous Turkey

"A nervous Turkey

By Costas Iordanidis

The dramatic flight of capital from Turkey, to the tune of $5.5 billion over the past couple of weeks, should concern not only the National Bank of Greece, which recently took over Turkey’s Finansbank at a hefty price, but also the Greek government as growing fear among foreign investors reflects a lack of confidence in Turkey’s future.

It would be naive to assume the Turkish political leadership has not sensed the clouds gathering over Ankara’s path to Europe. Its increasing aggression toward Greece and Cyprus is merely a defensive reflex."

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