Tag Archives: Construction bubble

Forbes: Corruption at the top in Turkey, How Construction is Involved


It’s worth remembering that Erdogan’s mystique first showed cracks over his virulent reaction to the Gezi Park protests. That too was about huge building projects. There’s something about construction that seems to matter a lot to Erdogan’s grip on power. The fact is, no other industry does the same job that banks do of dispersing money throughout the economy, while [...] → Read the full article…

The New York Times: Madrid and Istanbul Respond Differently to Rejection by Olympics


Madrid, whose population, hit hard by record unemployment and a long recession, had rallied around the idea that the Games could help create jobs and revive the image and economy of Spain. In contrast, large groups of people in the central Taksim district in Istanbul celebrated their city’s Olympic defeat on Saturday night. They argued that the Turkish government had tried [...] → Read the full article…