Hadi

Turkish Shareholders Association Plans to Sue the Turkish Central Bank

I would also tend to concur with much of Suna's economic analysis; applying western analytical paradigms containing macro-economic theoretical generalisations embodying Mercantilist, Keynsian, or Monetarist policies to the Turkish circumstance has only become even remotely rewarding in very recent times. Much that comes across the communiciations channels frequented by the external world simply provides a misleading perspective if not accompanied by well grounded data points at street level.

Turkiye is one of the few countries, seat of empires for the history of civilization, that has not suffered the yoke of western colonialism, and has there fore been late to assimilate much of the instituional cultural affinities normally associated with other countries of similiarly longstanding adaption of Breton Woods institutions.

Presuming what looks like candy, actually feels, tastes, and digests like candy, can be a mistake. The representatives of the IMF, for so long, seemingly so comfortably slumbering under the enchanting seduction of oriental charms, awoke to the realities by the early years of this millenium - a relatively late assessment by them, for a client country that was one of the first in recent times to default- in 1979.

Consider that financiers of Istanbul, host to relatively sophisticated investment operations involving stock exchanges and bond issues on international capital markets well over a hundred years ago, succeeded in doing so in a country without the fundamental cornerstone of a modern western financial system - a central bank...in point of fact the Ottomans had no banking system - it was effectively a foreign offshore sector existing under privilege in an onshore zone-Pera .

Modern Turkiye shares similiarites, in so far, as not all is as it may seem....you may speak the same language, and use the same words, but harbour different understandings- this cultural chasm represents the greatest risks facing unsuspecting foreign investors in bazaars around Taatikale, or the candy shop of the Istanbul Stock Exchange.

Ataturk adapted institutional frameworks and structures from other countries and grafted them onto a feudal Islamic landscape. However, it is taking considerably longer to ensure the cultural assimilation of underlying values, that ensures such graftings function efficiently as envisaged in the countries from whence they were adapted. Convergence towards the EU Acquis has reinforced the speed and benefits accruing to Turkey from New World Order instituions in this regard- but the AKP or any party needed only to have sat there for the ride.

An occaissional prod from a trusted guide and steward can be most helpful to avoid periodic entrapment in the everpresent oriental dance that mesmerises the inward flow of investment....irrespec... of the politics of dance.

Turkish Shareholders Association Plans to Sue the Turkish Central Bank

At Last- a pundit in the international space that knows what they're talking about. Suna, your endeavors are greatly appreciated by all stakeholders who value Turkiye. CuriousInvestor, unfortunatley, it's what you don't know that can definitely be detrimental to your financial health. Regrettably, there are far too many shallow arguments foisted on the international community by the public relations apparatus of the AKP, that seek to make unwitting foreign investors, politicians, and diplomats, allies of their argumentative propoaganda in the name of mis-construed democratic rights, designed to place Turkey on the slippery slope policies towards state sponsored political Islam. If you have no more than a superficial understanding of Turkey, then you may find it difficult to discern such distinctions between carefefully manicured arguments for democracy, and pure populist polemic, so therefore avail yourself of a transalator, and listen to the spoken word off the hustings, and you will then share the state of fright of the vast majority of Turks.