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The Syrian turmoil is bad for business
In a world of non-market economies, you have to be in good terms with foreign capitals to penetrate their markets. Turkey was one of the earliest countries to abide by…
Is the system more transparent now?
The rate regarded by markets currently as the policy rate is the funding cost, not the one that the CBT calls as the policy rate. Before 29 November 2012, the Central…
Please do not beat the police
In our experience, civilians do not beat police officers, but the police beat anyone and everyone at a moment’s notice. The other day I saw a brochure in Bern when I was…
Towards a long and dirty war?
Things are getting complicated in Syria. As for the Annan Plan, it always looked like a weak text full of optimistic wishes, unprepared for solving the problems or…
Are problems about FX finance easing?
If Europe gets back into a chaos, we will initially face difficulty in meeting the FX requirement even in the case that the current account deficit eases. Critical…
Output growth slows down as desired
Indicators suggest that industrial output growth has weakened and that this trend will most probably continue in March and April. Industrial output growth for February…
Yes, but not enough
The incentive system I was briefed about in Korea was thematic and had a spirit. Unfortunately, ours does not. The new incentive system for industrial investments has…
I feel betrayed by the JOBS Act
I feel betrayed because in Turkey, we are trying to enhance our disclosure rules and make corporate accounts more transparent. Just a few days ago, U.S. President Barack…
Incentives
The main difference between the new and the old system is that the former incentivizes “strategic investments.” Last week I attended a conference at Uludağ University.…
I felt at home in Moscow
If you asked me, “What did you think about Moscow?” I would say it is a bit from the past. The city has a glory inherited from the past. I do not know if this is about…
Syria and insurgency
The debate over Syria still has a place on the agenda, and it is keeping Turkey busier than any other agenda item. The Syria issue has become not only a foreign policy…