“The coup initiated on December 17 has totally collapsed and has been beaten back.”
– RTE to his ruling AK party in parliament, referring to the date of the first of a series of police raids on businessmen and the sons of several cabinet ministers in connection with the probe,
The Turkish lira has been getting slammed as the country grapples with an anti-corruption probe.
“For those concerned about Turkey’s political crisis, Nomura’s senior political analyst Alistair Newton thinks ‘the risk to medium-term political stability is being overstated in some of the media – a tendency, which is likely to persist near-term as events continue to unfold.’
He expects the ruling Justice and Development Party (AKP) party to do well at the March 30 elections and expects Erdogan ‘to remain the dominant political figure for the foreseeable future, as either prime minister or the country’s first directly elected president.’”
A tiny fishing village called Garipce holds a clue to understanding the largest corruption scandal in Turkish history.
“‘The relationship between the construction industry and the AKP is straightforward: They get the big government contracts,’ said , a Turkish economist at Illinois State University in the town of Normal who studies corruption, via e-mail. ‘What is more important is their presence in Turkish media. These firms own the majority of the radio and television stations, and the AKP and Erdogan use these as propaganda machines.’
Sabah and other pro-government media call the probes politically motivated, rejecting any implications of corruption. Opinion pieces in the pro-Erdogan press don’t refute the allegations of corruption, arguing instead that these projects were awarded to speed up infrastructure investments, said Global Source’s Yesilada.”