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Turkey Weekly Macro Comment
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Turning "Suspected Democrats" into Martyrs of Democracy
Wed, Mar 19 2008, 09:18 GMT
by Yapi Kredi Bank Economic Research Department
- • The latest move by Chief Prosecutor of the Supreme Court of Appeals is yet another move to discredit the AKP government with the intended final outcome of shutting it down.
- • When one looks at the composition of the members of the Constitutional Court, whose 8 members of its total of 11 were appointed by the staunch secular ex-President Sezer, a shut down decision seems likely, at least mathematically
- • We may have had party closings in the past, but that was in a much different country with repercussions hardly similar to what we may have to face if the Prosecutor’s appeal is entertained by the Constitutional Court
- • My gut feeling is that the indictment will fall and AKP will escape unscathed. Central Government budget for the month of February were announced last week and results are extremely encouraging
- • Current account deficit in January materialized as USD 3.9 billion. 12-month rolling FDI financing of the current account deficit is steadily coming down, but corporate borrowing remained firm to most analysts’ surprise.
- • We expect selling pressure in ISE-100 and in the fixed income market as well. And for a change, we Turks are not Americans as of Friday evening anymore.
Published on Wed, Mar 19 2008, 09:26 GMT
Archive
- Semi-Reluctant Recruits into the No Closure/No Ban Camp?
Published On Tue, Jul 22 2008, 09:07 GMT - Silence Before the Storm, and Regardless
Published On Wed, Jul 2 2008, 10:28 GMT - Turning "Suspected Democrats" into Martyrs of Democracy
Published On Wed, Mar 19 2008, 09:18 GMT - Turks' Test with Numbers, Again
Published On Tue, Mar 11 2008, 15:07 GMT
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