Economic progress in Turkey endangered by political jousting

By Nicolas Birch June 06, 2006, an EurasiaNet Commentary.

As transformations go, the changes to Turkey’s economy following the 2001 crash were radical. A banking system that had been little more than a piggy-bank for politicians was transformed into one of the fastest-growing in the world.

In place of governments willing to throw fiscal responsibility out the window in exchange for a handful of votes, elections late in 2002 brought to power a party apparently determined to extricate Turkey from years of debilitating boom-and-bust economic cycles. Was the change of mentalities only a mirage? With political jousting between secularists and a religious-minded government showing increasing signs of spilling over into the economy, analysts increasingly fear the answer may be yes.

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