Tag Archives: Debt Crisis

New York Times: Cracks in Leader’s Armor During a Cash Crisis


The first cracks in Mr. Erdogan’s aura of invincibility came in the summer, with violent street protests against yet another mall that was to replace a popular Istanbul park. Mr. Erdogan emerged from that with his image tarnished but his power seemingly intact. But he was jolted once again in December by a sweeping corruption inquiry aimed at his inner circle. [...] → Read the full article…

The New York Times: Istanbul Skyline Reflects Cheap Dollars Now Growing Scarce


The biggest beneficiaries of the Fed’s largess were not so much in the developed world, but among the politically connected elite in emerging nations like Turkey, where vanity towers, glitzy shopping malls and even grander projects to come — a third bridge across the Bosporus and a vast new airport — have become representative of the nation’s new dynamism, economic [...] → Read the full article…