And so the inevitable has come to pass. Turkey’s central bank has departed from its controversial commitment to a loose policy stance in the face of growing signs of overheating and vulnerability in the economy. The bank signalled yesterday that a phase of marked monetary tightening has now begun.
Earlier this month the German magazine Der Spiegel published a brace of articles about Turkey and accompanied them with a graphic comparing Turkey’s economy and those of a number of EU member states. A cursory glance at this graphic, which I’ve reproduced below, suggests clearly that
Turkey’s prime minister Tayyip Erdoğan, a man whose self-aggrandising style of leadership has already been coming in for increasing criticism, outdid himself in his victory speech following Sunday’s parliamentary elections. Sometimes public figures push themselves to a place beyond parody. This was