By Gareth Jenkins (vol. 2, no. 5 of the Turkey Analyst)
When the global financial crisis sent economies around the world into a tailspin, officials from Turkey’s ruling Justice and Development Party, AKP insisted that the country would remain unaffected. One of the reasons appeared to be a simple refusal to acknowledge that anything negative could happen to the Turkish economy while the AKP was in government. Another seems to have been a reluctance to introduce austerity measures in the run-up to the local elections of March 29, 2009. There is a danger that the combination of pride and political short-termism could both deepen the impending economic recession in Turkey and threaten the social and political fabric of the country.
The Turkey Analyst is a publication of the Central Asia-Caucasus Institute & Silk Road Studies Joint Center, designed to bring authoritative analysis and news on the rapidly developing domestic and foreign policy issues in Turkey. It includes topical analysis, as well as a summary of the Turkish media debate.