What happens when the political will suppresses public institutions? We have had an experience of this in Turkey in the past week.
I am indeed talking about the interest rate and the flight of foreign currency. Let us leave the technical side of the issue to the economists and instead simply look at the institutional side.
The difference of opinion between the president and the government, and also within the government itself, about economic policies is getting deeper.
Following President Recep Tayyip Erdo?an?s statement last week about interest rate cuts, it was observed that the difference of opinion was not only limited to monetary policies, but had also spread to several main areas.
The difference of opinion about Turkey's economic policies between the president and the government - and also within the government itself - is deepening.
After President Recep Tayyip Erdo?an?s statement last week demanding interest rate cuts, it was observed that the difference of opinion was not limited to monetary policies, but also spread to several main areas.
Turkey?s gross domestic product is expected to grow at around 3 percent in 2014. This growth rate is a ?modest high? when the current situation in the European markets, Turkey?s main trade partner, is considered, along with the surrounding geopolitical risks.
Mustafa Ali Tonbul (R) after his surgery with his father, Mehmet.
A 17-year-old high school student sentenced to three months in jail with four other teenagers by a Childrenâs Court for setting up tents during last yearâs Gezi protests in Ä°zmir has expressed his dismay for the ruling handed out Dec. 26.