Turkish finance minister wrecks economy ‘with a twinkle in his eye’ · Global Voices

Turkish finance minister wrecks economy ‘with a twinkle in his eye’ The minister dodged questions on the economy's failing figures Written by Arzu Geybullayeva Posted 30 December 2021 7:20 GMT Turkish Twitter-sphere was full of memes and jokes after the country’s new Minister of Treasure and Finance, Nureddin Nebati, exclaimed in a TV interview that the economy was about the “twinkle” in his eyes. The twinkle was the minister’s response to a question on economic indicators as the country navigates its worst-ever financial crisis, largely caused by President Recep Tayyip Erdoğan’s unorthodox economic policies, now dubbed Erdoganomics. More:Turkish finance minister wrecks economy ‘with a twinkle in his eye’ · Global Voices

Turkish Lira Crisis Turns Political With Lawsuit Threat

Turkish Lira Crisis Turns Political With Lawsuit Threat By Dmitry ZAKS 12/30/21 AT 6:13 AM Turkey's currency crisis turned increasingly political on Thursday after a top minister urged citizens to sue economists who comment on social media about the lira's slide. Finance Minister Nureddin Nebati's unusual remarks late Wednesday followed the banking regulator's decision to file complaints against more than 20 people -- including a former central bank governor -- over their Twitter posts. More:Turkish Lira Crisis Turns Political With Lawsuit Threat

Lira on four-day skid as Ankara struggles to hold confidence | Reuters

Lira on four-day skid as Ankara struggles to hold confidence By Ezgi Erkoyun and Nevzat Devranoglu ISTANBUL, Dec 30 (Reuters) - Turkey's lira fell as much as 6% on Thursday, extending a four-day slide after last week's big gains, as the government struggled to convince savers to ignore the volatility and worries over surging inflation and unorthodox rate cuts. More:Lira on four-day skid as Ankara struggles to hold confidence | Reuters

Erdogan may cash in on economy steps with early election, analysts say | Reuters

Erdogan may cash in on economy steps with early election, analysts say By Birsen Altayli and Orhan Coskun ISTANBUL, Dec 29 (Reuters) - Turkey's President Tayyip Erdogan has effectively opened the door to early elections, political analysts said, after two big recent announcements - a 50% rise in the minimum wage and a deposit-protection scheme that arrested a currency crash. More:Erdogan may cash in on economy steps with early election, analysts say | Reuters

Erdogan’s choices are destroying Turkey’s economy - D1SoftballNews.com

Erdogan’s choices are destroying Turkey’s economy The collapse of the lira in Turkey is putting the country’s economy at risk. It is not just a condition due to the global economic crisis. It is also, or perhaps above all, a consequence of the decisions of President Recep Tayyp Erdogan. More:Erdogan’s choices are destroying Turkey’s economy - D1SoftballNews.com

Time capsule with notes to future put into Istanbul's Bosphorus Strait - Global Times

Time capsule with notes to future put into Istanbul's Bosphorus Strait By Xinhua The first rays of the morning sun in the Bosphorus Strait in Istanbul, Turkey, on Dec. 11, 2021.(Photo: Xinhua)   "Dear people! I love you so much. I want to be a freediving champion, and I want to see a whale," Liza Sukhinina, an 8-year-old Russian freediver, wrote about her wish for the future in a letter. More:Time capsule with notes to future put into Istanbul's Bosphorus Strait - Global Times

Turks keep holding on to dollars as mistrust in Erdogan lingers - Al-Monitor: The Pulse of the Middle East

Turks keep holding on to dollars as mistrust in Erdogan lingers Ankara’s currency-defense scheme has stopped the lira’s nosedive for now, but there is no tangible sign that a return to the lira has begun to reverse the alarming dollarization in the country. More:Turks keep holding on to dollars as mistrust in Erdogan lingers - Al-Monitor: The Pulse of the Middle East

Lira slide pushes young Turks to virtual working overseas | Financial Times

Lira slide pushes young Turks to virtual working overseas Local businesses complain of ‘brain drain’ as programmers take jobs with international companies More:Lira slide pushes young Turks to virtual working overseas | Financial Times

Turkey’s Erdogan shows bark and bite by targeting stray dogs in culture war | The Independent

Turkey’s Erdogan shows bark and bite by targeting stray dogs in culture war Turkish president orders stray dogs into shelters derided as ‘death camps’ and accuses pet owners of elitism Borzou Daragahi Istanbul Faced with soaring inflation, sliding approval ratings, and scepticism by international partners, Turkey’s president has set upon an unusual new culprit: dogs, which have become a source of controversy and a political wedge issue in the polarised country. More:Turkey’s Erdogan shows bark and bite by targeting stray dogs in culture war | The Independent

Erdogan’s new economic plan no remedy for lost purchasing power - Al-Monitor: The Pulse of the Middle East

Erdogan’s new economic plan no remedy for lost purchasing power Even as Ankara rolls out a new scheme to contain the country’s currency crisis, the severe losses of millions of low-and middle-income Turks appears irreversible. More:Erdogan’s new economic plan no remedy for lost purchasing power - Al-Monitor: The Pulse of the Middle East

Analysis: Erdogan, struggle for way out of early election funnel

Analysis: Erdogan, struggle for way out of early election funnel December 26, 2021 AhlulBayt News Agency (ABNA): Amid the continuous slump of the Turkish national currency lira price, early elections demand by the opposition to end two decades of Recep Tayyip Erdogan rule of the country is stirring a heated debate of the media and political circles these days.  Over the past few days, lira crashed to a record low of 17 to the US dollar, with economists' forecasts suggesting that by the year's end the fall could reach 20. More:Analysis: Erdogan, struggle for way out of early election funnel

Turkey issues emergency-use authorization for its domestically produced vaccine. - The New York Times

Turkey issues emergency-use authorization for its domestically produced vaccine. By The New York Times Dec. 22, 2021 Turkey granted emergency-use approval for a domestically developed Covid vaccine on Wednesday, adding a third inoculation option for its citizens, as the Omicron variant increasingly fuels outbreaks in Europe and beyond. More:Turkey issues emergency-use authorization for its domestically produced vaccine. - The New York Times

Turkey’s crisis rattles the faithful in Erdogan’s heartland – EURACTIV.com

Turkey’s crisis rattles the faithful in Erdogan’s heartland A woman checks rates on a board of the currency exchange office in Istanbul, Turkey, 2 December 2021. [EPA-EFE/SEDAT SUNA] Turkish President’s Recep Tayyip Erdoğan’s single-handed policies have triggered a 56% fall in the lira this year and driving up the cost of living for ordinary Turks. Nevertheless, Erdoğan’s party still enjoys more support than any other and can rely on near blanket support from media owned predominantly by his supporters. Mre:Turkey’s crisis rattles the faithful in Erdogan’s heartland – EURACTIV.com

Opinion: Erdogan is pulling the wool over voters′ eyes | Opinion | DW | 21.12.2021

Opinion: Erdogan is pulling the wool over voters' eyes Turkey's president, Recep Tayyip Erdogan, appears to have pulled a financial rabbit out of the hat to stop the lira's free fall. But that will not help him secure another presidential term, writes Banu Güven. More:Opinion: Erdogan is pulling the wool over voters′ eyes | Opinion | DW | 21.12.2021

Why One Man Can Ruin Turkey’s Economy | Council on Foreign Relations

Why One Man Can Ruin Turkey’s Economy Did Erdogan break Turkish politics by empowering the presidency—or was it broken already? More:Why One Man Can Ruin Turkey’s Economy | Council on Foreign Relations

Over half of Turks disagree with Erdoğan’s new economic model - survey | Ahval

Over half of Turks disagree with Erdoğan’s new economic model - survey Dec 20 2021 06:33 Gmt+3 Fifty-seven percent of Turks say Turkish President Tayyip Erdoğan’s new economic model is wrong, according to a recent survey by Türkiye Raporu polling company. More:Over half of Turks disagree with Erdoğan’s new economic model - survey | Ahval

Turkey's Erdogan introduces anti-dollarisation measures to prop lira | National Post

Turkey's Erdogan introduces anti-dollarisation measures to prop lira NEW YORK — Turkish President Tayyip Erdogan introduced a series of measures that aimed to prevent further dollarisation and encourage savings to be made in lira, as he repeated a defense of his low-rates policy, even as the lira crashed to record lows. More:Turkey's Erdogan introduces anti-dollarisation measures to prop lira | National Post

Turks hunt for vanishing drugs in currency crisis

Turks hunt for vanishing drugs in currency crisis Ankara (AFP) – Fatih Yuksel is one of thousands of Turks rushing from one pharmacy to another in search of imported drugs that are disappearing as quickly as the lira is losing value. More:Turks hunt for vanishing drugs in currency crisis

Erdogan's unorthodoxy leaves Turks in the literal cold - Asia Times

Erdogan’s unorthodoxy leaves Turks in the literal cold Turkish leader’s monetary policies have caused a currency crisis and runaway inflation that has skyrocketed rents by as much as 290% By JONATHAN GORVETT DECEMBER 18, 2021 The Turkish lira is collapsing while inflation is surging. Image: Twitter On December 15, one of the more telling twists in Turkey’s current currency crisis occurred, far from the boardroom of the country’s beleaguered central bank. In Idlib – the last stronghold of Syria’s anti-Assad opposition – one of the most powerful armed factions running the Turkey-backed enclave, Hayat Tahrir Al-Sham (HTS), made a brief announcement. More:Erdogan's unorthodoxy leaves Turks in the literal cold - Asia Times

Erdogan Faces Anger Over Turkey’s Living Cost, Threatening His 2023 Re-Election - Bloomberg

Turkey’s Erdogan Is Losing Support Where He Can Least Afford It An 800-kilometer journey from the president’s hometown to Turkey's capital, Ankara, shows his party is alienating voters ahead of elections in 2023. By Selcan Hacaoglu +Sign Up December 17, 2021, 2:21 AM EST Updated on December 17, 2021, 6:13 AM EST The anger sweeping along highways linking the humble hometown of Turkey’s leader and his plush lodgings in Ankara’s presidential palace is flashing a code red warning for Recep Tayyip Erdogan. More:Erdogan Faces Anger Over Turkey’s Living Cost, Threatening His 2023 Re-Election - Bloomberg

Erdogan’s Ponzi scheme comes apart - Asia Times

Erdogan’s Ponzi scheme comes apart Friday’s Istanbul exchange collapse, if not the breaking point, was a warning that madness will overcome method By DAVID P. GOLDMAN DECEMBER 18, 2021 Turkish President Erdogan is fighting a losing economic war against markets that have bombarded his nation's currency. Image: Twitter There has always been a method to the madness of Turkey’s leader Recep Tayyip Erdogan, who cut interest rates even while the value of the Turkish lira vanished on foreign exchange markets. The method, however, showed its fragility on Friday, December 17, when the currency traded at 17 to the dollar, about half its November level and one-eighth of its 2014 exchange rate. More:Erdogan’s Ponzi scheme comes apart - Asia Times

Erdogan's Dangerous Obsession With Low Rates

Erdogan's Dangerous Obsession With Low Rates Bobby Ghosh (Bloomberg Opinion) -- The collapse of the Turkish lira this year has been a chronicle of a disaster foretold. Once a star performer among emerging-market currencies, the currency has plunged, thanks mainly to President Recep Tayyip Erdogan’s fixation on slashing interest rates. More:Erdogan's Dangerous Obsession With Low Rates

Erdoganomics: Turkey cuts rate again, while raising minimum wage 50% - Nikkei Asia

Erdoganomics: Turkey cuts rate again, while raising minimum wage 50% President continues with his risky bet on weak lira December 16, 2021 20:17 JSTUpdated on December 17, 2021 00:02 JST ISTANBUL -- Turkey's central bank announced on Thursday it was slashing its key benchmark rate by 100 basis points to 14% despite a recent plunge in the lira. More:Erdoganomics: Turkey cuts rate again, while raising minimum wage 50% - Nikkei Asia

Turkey raises minimum wage by 50% to help workers hit by soaring inflation | Financial Times

Turkey raises minimum wage by 50% to help workers hit by soaring inflation Erdogan announces pay boost just hours after central bank cuts rates, sending lira to new low More:Turkey raises minimum wage by 50% to help workers hit by soaring inflation | Financial Times

Many Turks Can’t Afford Bread, and Bakers Can’t Afford to Make It - The New York Times

Many Turks Can’t Afford Bread, and Bakers Can’t Afford to Make It Squeezed by rising costs, price controls and plunging sales, bakers warn of ruin, while their impoverished former customers line up for government-supplied loaves. More:Many Turks Can’t Afford Bread, and Bakers Can’t Afford to Make It - The New York Times

Thousands in poverty protest in Turkey as lira hits record lows | Euronews

Thousands in poverty protest in Turkey as lira hits record lows COMMENTS By Euronews  with AFP  •  Updated: 13/12/2021 - 12:30 Thousands marched through Istanbul on Sunday after trade unions denounced the rise of poverty in the country and called for an increase of the minimum wage. Turkey is currently experiencing a currency calamity due to the Turkish lira hitting record lows against the dollar – exceeding 13 to the US greenback this week –, losing nearly 30% in value in the last month alone, and over 43% since the start of the year. More:Thousands in poverty protest in Turkey as lira hits record lows | Euronews

Lira's decline hangs over Turkey's people - Marketplace

Lira’s decline hangs over Turkey’s people Sabri Ben-Achour Dec 13, 2021 Turkey’s inflation rate is over 20%, and the country’s central bank will likely cut interest rates again later this week, raising the inflation temperature. Turkey’s currency, the lira, has fallen to a new all-time low against the dollar on expectations of the rate cut. More:Lira's decline hangs over Turkey's people - Marketplace

Why Erdogan Can Ruin Turkey’s Economy by Himself

Why One Man Can Ruin Turkey’s Economy Did Erdogan break Turkish politics by empowering the presidency—or was it broken already? By Steven A. Cook, a columnist at Foreign Policy and the Eni Enrico Mattei senior fellow for Middle East and Africa studies at the Council on Foreign Relations. DECEMBER 13, 2021, 5:43 AM With the waves of democratization in Latin America and Eastern Europe in the 1980s and 1990s, social scientists could put to the test a long-running debate in political science: which system is superior in sustaining democracies, presidential or parliamentary? Beginning in 1985, a Yale University professor named Juan Linz argued that parliamentarism was better. Academic debates ensued, and subsequent research indicated that the case for parliamentarism is not as categorical as Linz suggested. More:Why Erdogan Can Ruin Turkey’s Economy by Himself

Turkey's Erdogan, trailing in polls, shows off his collection of scissors, Europe News & Top Stories - The Straits Times

Turkey's Erdogan, trailing in polls, shows off his collection of scissors ANKARA (BLOOMBERG) - In the almost two decades that Recep Tayyip Erdogan has ruled Turkey, he has poured tens of billions of dollars into giant infrastructure projects to cement popular support while he tightened his grip on the country. More:Turkey's Erdogan, trailing in polls, shows off his collection of scissors, Europe News & Top Stories - The Straits Times

Turkey’s Erdogan says social media a ‘threat to democracy’ | Federal News Network

Turkey’s Erdogan says social media a ‘threat to democracy’ The Associated Press December 11, 2021 10:05 am ISTANBUL (AP) — Turkish President Recep Tayyip Erdogan described social media Saturday as one of the main threats to democracy. Erdogan’s government plans to pursue legislation to criminalize spreading fake news and disinformation online, but critics say the proposed changes would tighten restrictions on free speech. More:Turkey’s Erdogan says social media a ‘threat to democracy’ | Federal News Network

Turkey’s President Follows His Own Advice Even as Economy Slips - The New York Times

Turkey’s President Follows His Own Advice Even as Economy Slips President Recep Tayyip Erdogan is increasingly isolated as he clings to an economic prescription that few endorse but that he believes will bear results before elections. More:Turkey’s President Follows His Own Advice Even as Economy Slips - The New York Times

Erdoǧan loses his way | The Interpreter

Erdoǧan loses his way WILLIAM GOURLAY As Turkey’s economy falters, its strongman president is falling in the polls – the implications may be far reaching. Once seen as a champion of freedom, Recep Tayyip Erdoǧan’s international reputation has lost its sheen (Adem Altan/AFP via Getty Images) Published 10 Dec 2021 06:00   0 Comments   Turkey     Follow @GourlayWill Some 10 years ago, Time magazine featured Turkey’s then-Prime Minister Recep Tayyip Erdoǧan on its cover. Erdoǧan was riding high. His Justice and Development Party (AKP) had just convincingly won a third general election and internationally he was lauded as a can-do leader. Since the AKP won power in 2002, Erdoǧan had overseen an economic boom, re-invigorated European Union accession talks and, alongside Foreign Minister Ahmet Davutoǧlu, engineered a more active international role for Turkey. More:Erdoǧan loses his way | The Interpreter

Turks wait in line for cheap bread as inflation eats into earnings | Reuters

Turks wait in line for cheap bread as inflation eats into earnings By Mehmet Emin Caliskan and Daren Butler ISTANBUL, Dec 8 (Reuters) - As the lira's plunge in value and surging inflation erode Turks' earnings, many people in Istanbul have taken to waiting in line for the municipality's cheap bread as they scrimp to make small savings in their household budgets. More:Turks wait in line for cheap bread as inflation eats into earnings | Reuters

As Turkey's currency drops, some worry the government can't turn things around : NPR

As Turkey's currency drops, some worry the government can't turn things around PETER KENYON Turkey's currency has recently hit record lows in value, driving up prices in the country. But the president's recipe for fixing the problem is the opposite of what economists generally recommend. More:As Turkey's currency drops, some worry the government can't turn things around : NPR

What Would a Post-Erdoğan Turkish Foreign Policy Look Like? - War on the Rocks

WHAT WOULD A POST-ERDOĞAN TURKISH FOREIGN POLICY LOOK LIKE? M. HASIM TEKINESDECEMBER 8, 2021 COMMENTARY Both his admirers and detractors agree that President Recep Tayyip Erdoğan has radically transformed Turkish foreign policy. But, if Erdoğan were to leave power, would Turkey’s approach to the world “normalize” and turn back to its pre-Erdoğan settings? With economic conditions in Turkey worsening, public outrage over the country’s mismanagement mounting, and Erdoğan’s health visibly declining, this question has generated increasing debate. More:What Would a Post-Erdoğan Turkish Foreign Policy Look Like? - War on the Rocks

Turkey’s health care workers go on strike - Al-Monitor: The Pulse of the Middle East

Turkey’s health care workers go on strike Left out of a bill that gave doctors a raise, Turkey’s nurses and other health care workers are going on strike as Turkey reports 20,000 daily cases of COVID-19. More:Turkey’s health care workers go on strike - Al-Monitor: The Pulse of the Middle East

Turks in the US mark World Turkish Coffee Day

Turks in the US mark World Turkish Coffee Day World Turkish Coffee Day recognises the cultural significance of Turkish coffee to the world As people around the world celebrate the holiday season, Turks are enjoying their own additional celebration this month. World Turkish Coffee Day, made official by UNESCO on 5 December 2013, recognises the cultural significance of Turkish coffee to the world. More:Turks in the US mark World Turkish Coffee Day

Government critic elected to lead Union of Turkish Bar Associations - Al-Monitor: The Pulse of the Middle East

Government critic elected to lead Union of Turkish Bar Associations Defeating a pro-government incumbent, Ankara Bar Association Chair Erinc Sagkan was elected head of the Union of Turkish Bar Associations on Sunday, pledging to strengthen the rule of law and independence in Turkey’s legal profession. More:Government critic elected to lead Union of Turkish Bar Associations - Al-Monitor: The Pulse of the Middle East

Turkish opposition leader helps shape alliance to challenge Erdogan

Turkish opposition leader helps shape alliance to challenge Erdogan Kemal Kilicdaroglu emboldened by AKP slide in popularity amid economic turmoil More:Turkish opposition leader helps shape alliance to challenge Erdogan

Turkey’s self-inflicted currency meltdown - Asia Times

Turkey’s self-inflicted currency meltdown The Erdogan government’s risky strategy runs counter to most conventional thinking on how to tackle inflation By ALEXANDRA DE CRAMER DECEMBER 3, 2021 In less than a year, the Turkish lira has lost up to 45% of its value against the US dollar. The continued meltdown of the currency is one of the worst economic crises Turkey has ever faced. Yet the government refuses to take a step back from its failing economic policy. More:Turkey’s self-inflicted currency meltdown - Asia Times

Strasbourg issues ultimatum to Turkey for Kavala's release - General news - ANSAMed.it

Strasbourg issues ultimatum to Turkey for Kavala's release Council of Europe urges for release by Feb. 22, or sanctions 03 DECEMBER, 12:21 STRASBOURG - Turkey risks serious sanctions if it does not intervene immediately to release Osman Kavala, the philanthropist and opponent of Turkish President Recep Tayyip Erdogan, as requested by a ruling of the European Court of Human Rights. This ultimatum was launched by the committee of ministers of the Council of Europe that notified to Ankara the intention of opening an infringement procedure if Kavala's case won't be solved by February 22, 2022. More:Strasbourg issues ultimatum to Turkey for Kavala's release - General news - ANSAMed.it

Murder of women in Turkey: Femicide requires harsher sentencing - Qantara.de

Murder of women in Turkey Femicide requires harsher sentencing According to lawyers and women's rights activists, the prison term for the murder of women in Turkey is not long enough. They argue that the brutality of the crime should carry more weight during sentencing – and hope thereby for a deterrent. Burcu Karakas reports More:Murder of women in Turkey: Femicide requires harsher sentencing - Qantara.de

Turkey cenbank signals new-year rates pause after lira slump | Reuters

Turkey cenbank signals new-year rates pause after lira slump By Ebru Tuncay and Jonathan Spicer ISTANBUL, Dec 2 (Reuters) - Turkey's central bank chief signalled on Thursday that aggressive policy easing would likely pause in January after one more rate cut this month, according to participants on an investor call that came after a historic lira selloff. More:Turkey cenbank signals new-year rates pause after lira slump | Reuters

Turkey: Lira slips to record low because of Erdogan - The Jerusalem Post

Turkish lira slips to record low because of Erdogan Recep Tayyip Erdogan interferes in Turkey's monetary policy - with serious consequences for the country's currency. More:Turkey: Lira slips to record low because of Erdogan - The Jerusalem Post

Turkish lira seesaws as cenbank intervenes, Erdogan speaks | Reuters

Turkish lira seesaws as cenbank intervenes, Erdogan speaks By Tuvan Gumrukcu and Ezgi Erkoyun ISTANBUL, Dec 1 (Reuters) - A sharply fluctuating Turkish lira flirted with record lows on Wednesday as the central bank said it had intervened to prop up the currency, while President Tayyip Erdogan reaffirmed his determination to stick with steep rate cuts. More:Turkish lira seesaws as cenbank intervenes, Erdogan speaks | Reuters

Turkish Central Bank intervenes to curb 'unhealthy' lira losses - Al-Monitor: The Pulse of the Middle East

Turkish Central Bank intervenes to curb 'unhealthy' lira losses Amid a sharp slide in the nation’s currency, the Turkish Central Bank announced it would intervene in markets and sell foreign exchange reserves Wednesday to stem volatility in the Turkish lira. More:Turkish Central Bank intervenes to curb 'unhealthy' lira losses - Al-Monitor: The Pulse of the Middle East