Category: economy

Turkey Is The Epitome Of What Can Go Wrong In The Emerging Markets

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“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.’”

Photo credit: Adem Altan/AFP via Getty Images “Erdogan and…

Photo credit: Adem Altan/AFP via Getty Images

“Erdogan and Gulen, a 75-year-old cleric based in Saylorsburg, , have been exchanging barbs since Dec. 17, when an investigation into official corruption ensnared the chief executive officer of a state-run bank, a construction billionaire and the sons of three ministers. In a video published on his website on Dec. 21, Gulen wished fire on the houses of the corrupt. Erdogan responded yesterday, saying he’d “descend upon the dens” of those hiding inside state institutions.”

, Bloomberg News