Turkey, Sick Man of the World
July 6, 2025Some leaders – including some of the world’s most experienced – still haven’t understood that political maneuvering and intimidation almost always degenerate into macroeconomic disasters. What was initially just meant to sideline a political opponent immediately turned into investor panic and a financial hemorrhage. A textbook case of how to methodically and deliberately destroy what…
The melting of…
March 20, 2025The Turkish overnight lending rate urgently raised to…46%. This move aims to contain, as much as possible, the dramatic collapse of the lira (see chart) following the arrest of the Mayor of Istanbul, a serious opponent to President Erdogan. Hence the question: Can we still trust the State?
Turkey: autopsy of a debacle
May 30, 2022This country got lost in grandiose real estate projects that have turned out to be barely profitable. Instead of progressing from its economy’s developmental stage by prioritising and banking on the traditional path– which is also enticing for foreign investors –, a path that is characterised by gradual industrialisation, Turkey has preferred to enrich…