Analysis
Smart, independent reporting on Turkey's politics, economy and foreign affairs.
Ankara is happy to see the two-week ceasefire between the US and Iran as a significant first step, but worries it may not hold. The central fear focuses on Israel, which stayed silent through the night of negotiations only to issue a statement on Lebanon afterward.
The Middle East is no longer simmering — it is boiling over. The genocide being carried out in Gaza, the attacks on the West Bank, the incursion into Syria, and the devastating assault on Lebanon have cemented one uncomfortable truth that much of the world is now willing to state openly: Israel has become the primary driver of instability in the region.
Internal friction among top economy officials came to light after a senior central banker dismissed the impact of political cycles on monetary policy. The remarks by Deputy Governor Cevdet Akçay triggered a sharp rebuke from pro-government figures and suggestions of a rift between the central bank and the Presidency.
The central bank spent approximately $23.5 billion in foreign exchange interventions during the first two weeks of the Iran war to defend the Turkish lira.
In the March 8 election in Baden-Württemberg, Green Party candidate Cem Özdemir came first, edging out the CDU, if only narrowly. So far, so unremarkable. The state has, after all, been governed by the Greens since 2011. But the picture changes when the victor, under the Green banner, is Cem Özdemir.
The deal to resolve the case over allegations that Halkbank helped Iran evade American sanctions was announced on March 9, at the height of U.S.-Israeli attacks against Iran.
In a historic development for Turkish-American relations, the long-standing legal battle over Iran sanctions involving the Turkish state lender Halkbank has been settled. The U.S. government said the result will curb support for Iran.
The central bank may pause its easing cycle at the March 12 meeting amid growing uncertainty caused by the U.S. attack on Iran.
The Family and Social Services Ministry has finalized a draft bill that would impose a ban on social media use for children under the age of 15.
Those under 15 may be barred from opening social media accounts under legislation that may be discussed in parliamentary commission at the end of January.
İYİ Party Chair Müsavat Dervişoğlu condemned the parliamentary visit to İmralı, calling it a “national disgrace” and asserting that there is no statute of limitations for what he described as betrayal. İYİ Party deputy Alpaslan Yüce resigned from his party, saying it had abandoned its founding centrist ideals.
Central Bank Governor Fatih Karahan has likened inflation to a virus, saying it becomes harder to eliminate the longer it lingers in the economy. “We are applying the right prescription,” he said. “We’ve achieved positive results so far, and we have no doubts about our ultimate goal. But the effect of the prescription varies from case to case.”