Turkey: Wake Up to Rising Economic Risks

Ankara is focused on upcoming elections and fighting the PKK. It hasn't been attentive enough to the economic risks piling up for Turkey

Despite its large parliamentary majority and past pragmatism, the government led by Turkey's Justice & Development (AKP) party has remained essentially idle as the country faces the dual challenges of a slowing domestic economy and a global credit crunch. A risky sense of overconfidence and lack of focus on economic issues seems to prevail among policymakers.

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