Archives Turkey - Page 19 of 27 - New Eastern Outlook

The current financial crisis in Turkey demonstrates the rapid devaluation of the Turkish lira. After the second round of presidential elections, the Turkish lira has been falling in value almost daily, breaking new historic lows. Thus, on June 22 it overcame the psychological mark of 24 lira per dollar. All of this was the result of obvious irregularities in Turkey’s financial management, when the authorities, for populist purposes and pragmatic reasons of increasing the number of their supporters in elections, artificially kept the low credit rate of the Central Bank to encourage small business and support domestic production. However, the market system of the Turkish economy, one way or another, is integrated into the global economy, where the rules of financial lending and investment are determined not by the Turks, but by their Western allies. Accordingly, the policy of the Central Bank of the Republic of Turkey must take into account the international economic situation and established norms.

Political statements made before and after elections frequently diverge drastically. To a casual observer, it may appear that we are not discussing the same country. This is not even a matter of internal politics, where candidates lavishly spread slogans like “power to the people,” “only the people are masters of the state’s fate,” “corruption is death,” “inflation will be defeated,” “life will become better,” and so on to the electorate. There are situations when the results of elections also partially change the foreign policy emphases of the winning politicians, although before the vote they had said quite the opposite with a menacing look…

Syria is one of the most pressing concerns on the global diplomacy agenda, with Russia combining a successful peacekeeping role with focused diplomacy. Since the fall of 2015, it has been evident that the United States, its NATO allies, and the armed opposition organizations they were backing have failed to fulfill their primary goal of removing the unwanted administration of Bashar al-Assad and establishing control over the region. The fact that the true American plans have failed is due to Russia. Initially, the entry of the Russian Aerospace Forces into Syria at the invitation of the official authorities in Damascus was greeted with alarm…