Analysis
Smart, independent reporting on Turkey's politics, economy and foreign affairs.
Sweeping reforms to capital markets institutions will hinge on a State Audit Council (DDK) report on the multi-billion-dollar investment fund scandal, with President Recep Tayyip Erdoğan awaiting its findings before taking action.
The government is preparing comprehensive reforms across its financial regulatory bodies following the massive investment fund crisis that shook domestic markets.
Every time Turkey takes a big step backward and away from democratic rule, those familiar with Turkish-EU relations tend to also blame the Merkel-Sarkozy duo, who reined back Turkey’s accession talks in the mid-2000s at a time when the AKP was undertaking sweeping reforms to reach universal standards. It was the most serious and bitter wake-up call for those who still had faith in European values, that no matter what Turkey would do, it would never be considered a member of the European family, despite its NATO and Council of Europe membership.