Video-opinion:  Has Erdogan Averted a Currency Crisis?


Only 23 minutes!


Has Erdogan averted a currency crisis?


  • Since the CBRT September rate cut, the Turkish Lira has been on a roller-coaster ride, causing riding to puke all over the theme park.


  • After rising all the way to 18.00, after the announcement of a second “revolutionary New Economic Model”, dollar/TL seems to have stabilized at around 12.00-13.00.


  • Domestic pundits, even those in the opposition camp admire grudgingly Erdogan’s phenomenal ability to skirt disaster.


  • This view simply shows that political analysts don’t know crap about economics.


  • The new model, summarily called “Deposit Protection against TL Depreciation” is a ticking time bomb.


  • The new-new-new model will collapse latest by the end-January, possibly signaling the end of Erdogan’s mad antics and his upcoming retirement.


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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 and has contributed to the financial daily Referans and the liberal daily Radikal.