Analysis
Smart, independent reporting on Turkey's politics, economy and foreign affairs.
The crisis in Turkey’s Ponzi-style fund industry is heading for deadlock as the government refuses to disclose the 141 people and 73 companies that each made more than 100 million liras in unjust gains despite opposition demands for transparency.
More than a month after the fund collapse occurred, the shockwaves continue to rock the stock market. The crisis wiped out trillions of liras in corporate market capitalization and drove key valuation metrics to multi-year lows in Borsa Istanbul.
The Borsa Istanbul’s benchmark BIST 100 index entered a technical bear market at the end of September, marking its worst monthly performance since the 2008 global financial crisis.
The government is preparing comprehensive reforms across its financial regulatory bodies following the massive investment fund crisis that shook domestic markets.
Speculation is growing that the long-delayed crackdown on the fund crisis is tied to a power struggle in the AKP that includes Justice Minister Akın Gürlek and Foreign Minister Hakan Fidan.
For over a week, a single issue was on Turkey’s agenda: What happened to the money in the funds? Finance Minister Mehmet Şimşek, who had stayed silent on the crisis since it began and faced growing speculation that he would be fired, broke his silence on Sept. 24 to deny that he was leaving.
As the war between the US-Israel and Iran disrupts global energy routes, Turkey is trying to transform the regional crisis into an opportunity to offer security of supplies.
Adapted from the novel of the same name by Orhan Pamuk. “The Museum of Innocence.” A television series. With its release, months later, the public agenda shifted. Justice, legal troubles, and the deepening, ever more painful economic crisis were suddenly pushed aside. This series — along with the book of the same name and its author, Orhan Pamuk — took center stage, especially on social media.
After the deplorable treatment of Zelenskyy at the hands of Trump and Vance in the Oval Office, there is no question that the world, especially Europe, is at a critical threshold. If a brave new Europe is to emerge out of this crisis, every stakeholder must play their part. How President Erdoğan assumes his responsibilities will be of crucial importance for Turkey. By Hakan Okçal
“The opposition called for a quorum check, and when the required majority was not met, parliament was adjourned.” In recent months, this recurring news in parliament is not merely a simple quorum crisis. Behind it lie both structural problems inherent in the presidential system and the power struggle between the government and the opposition, spilling into parliamentary proceedings.
Turkey shows signs of renewing its ties with its NATO alliance partners amid the ongoing Iran crisis. The renewal of vows follows a tempestuous period in its relations not only with the U.S. but also with NATO following the acquisition of the S-400 air defense system from Russia. Particularly over the past 20 years, facing U.S. CAATSA sanctions and Europe’s covert arms embargoes in the fight against the PKK, Turkey’s government and opposition have both questioned the value of NATO membership.
The television drama industry is facing an unprecedented crisis as soaring inflation and domestic regulatory pressures threaten its global standing, alongside suppressive measures, including the detention of manager Ayşe Barım and the ongoing detentions in a drug and prostitution case that has labeled many figures from the sector.