Turkey is enduring its most severe economic crisis since the Justice and Development Party, or AKP, took power after sweeping elections in 2002. With a nearly 40 percent decline in the value of the Turkish lira this year, Turkey’s foreign exchange troubles risk plunging the heavily leveraged Turkish economy, and with it potentially the global economy, into a tailspin. On one hand, it’s a typical post-Cold War financial crisis in an emerging market whose economic prospects have always been volatile, with high risks and high rewards. On the other hand, the lira’s collapse is the product of a constellation of […]
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Editor’s note: Guest columnist Neil Bhatiya is filling in for Judah Grunstein, who will return Sept. 5. Relations between the United States and Turkey continue to deteriorate over the detention of U.S. citizens by the Turkish government, with all the focus on an American pastor, Andrew Brunson, who was arrested in the purge that followed the failed 2016 coup attempt against President Recep Tayyip Erdogan. Both sides are digging in, with President Donald Trump declaring in an interview on Monday that “there will be no concessions” to Turkey on securing Brunson’s release, despite the economic risks of Trump’s sudden pressure […]
AMSTERDAM—Just as Turkish President Recep Tayyip Erdogan fulminates against the United States again, blaming Washington for his country’s worsening economic troubles, a small controversy has erupted in the Netherlands over Turkish influence in the country. It came to light earlier this week that Turkey is planning to fund special Dutch schools to teach residents of Turkish origin about their heritage. The idea has sparked alarm among some Dutch politicians and their followers on both the left and the right, who worry about what, exactly, Erdogan’s government intends to teach in these schools, which would operate on weekends across the Netherlands. […]
After seven years of war in Syria, the endgame is here. All major frontlines have been frozen by foreign intervention, and military action now hinges on externally brokered political deals. The result could be a de facto division of the country. Syrian President Bashar al-Assad’s Russian-backed forces spent the past two years taking out isolated rebel strongholds, like Eastern Aleppo and Ghouta. Recently, they recaptured the area along the border with Jordan and territory near the Golan Heights—but at that point, they ran out of low-hanging fruit. The sight of Russian diplomats shuttling between Israelis, Syrians, Iranians and Americans to […]