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What cannot be the subject of the dispute?
I do not know the subjects of the disputes with the IMF. I would like to select and comment on two subjects addressed by the media. I remember reading some texts that…
We are at a point where foreign policy will determine economic policy
The world has become a strange place. We are right in the middle of a global economic crisis that has deeply affected all of us and that tends to affect even further.…
Unfortunately, it seems like we are right...
In general, when conducting macro-level analysis, we group the economy under sectors; for examples public sector, the central bank, banks, corporate sector, households…
Uncertainty: Will EU reforms continue?
In my last commentary, I tried to shift my focus away the crisis and addressed the medium-long run and thus the issue of reforms. Among the barriers beyond the…
“For God’s sake, what aspect of this crisis psychological!”
Doomsday Superstitions Catalogue; Entry No Two: "For God's sake, what aspect of this crisis psychological!" Since the international banking crisis hit the shores of…
It is not normal that Washington is more important than New York
We are in an interesting period. We are under influences that we are not used to face. It might be quite dangerous to get excited upon each development and try to react…
When the EU seems to come up in the agenda...
Currently, we are wondering what will be the magnitude of the economic contraction in 2009. The only thing we care about is whether we can decrease the size of this…
Turkey has taken the first measure against the crisis with the BRSA regulation
I have good news. We just saw that Turkey has the ability to be proactive. The first right step to tackle the crisis is taken. Banking Regulation and Supervision Agency…
This was exactly what we needed now...
Global shock, and the big earthquake and then the global crisis and recession... We have been using these phrases since recently. However, we were talking about how…
Need for a nut-case team
Among the most unpleasant aspects of this crisis for Turkey is that it creates a great ambiguity that we cannot and will not be able to control. Measures are taken…
Is height enough for success?
What is the secret of success in life? Is it the chemical process a fetus is exposed to that determines the future? Or, is what we call success is just the ability to…
Need for an integrated approach
We shall not pin our hopes upon individual solutions in the period of crisis we are going through. This fact was relevant even for four months earlier, but it is much…