Quake, Erdogan Push Turkish Economy to the Brink of Disaster | Real Turkey

Quake, Erdogan Push Turkish Economy to the Brink of Disaster:



– The true death toll from the quakes may have reached 100K, while damage estimates range from $60-100 bn.


– Erdogan is responsible for compounding the cost of the disaster. He committed four cardinal sins.


– Quake and Erdogan’s irrational economic ideas have pushed the Turkish economy to the brink of the disaster.


– Specifically, Turkey is going to witness unsustainable external deficits and run-away inflation.


– Erdogan is now coming a fifth mortal sin by rushing into a massive rebuilding drive.


– Central Bank is rapidly losing FX reserves, meaning a currency crisis or capital controls may be underway.



Published By: Atilla Yeşilada

GlobalSource Partners’ Turkey Country Analyst Atilla Yesilada is the country’s leading political analyst and commentator. He is known throughout the finance and political science world for his thorough and outspoken coverage of Turkey’s political and financial developments. In addition to his extensive writing schedule, he is often called upon to provide his political expertise on major radio and television channels. Based in Istanbul, Atilla is co-founder of the information platform Istanbul Analytics and is one of GlobalSource’s local partners in Turkey. In addition to his consulting work and speaking engagements throughout the US, Europe and the Middle East, he writes regular columns for Turkey’s leading financial websites VATAN and www.paraanaliz.com and has contributed to the financial daily Referans and the liberal daily Radikal.