...Turkey's version of Mohammed Morsi but they voted him back in so they deserve him. It's a sin, a shame, and a felony to insult the president of Turkey. In Anatolia did Recep Bey a stately Presidential Palace decree, that has 1100 rooms. That's 968 more than in the White House, 400 more than in Versailles, and 325 more than Buckingham Palace, so you know who's really more important...abruptly sacked
...the decaying remnant of the Ottoman Empire...
’s central bank chief on Saturday, two days after a sharp interest rate hike to head off inflation, replacing him with a former ruling party politician and critic of tight monetary policy.
Sahap Kavcioglu, a former member of parliament for Erdogan’s AK Party, replaces Naci Agbal who was appointed less than five months ago. Below are some reactions from analysts:
Selva Demiralp, director of the Koc University-Tusiad Economic Research Forum, in Istanbul:
"This move clarifies what the president meant by ’putting price stability aside’ when he announced the economic reform package last Friday. It is worrisome because I now expect economic policy to literally put price stability aside.
"This implies that the government will once again try to stimulate the economy by low interest rate policies. However,
Switzerland makes more than cheese...
pushing short term stimulus against longer term risks can not be a hand that can be overplayed. I am worried because such a priority has a high potential to backfire by causing extreme pressures on the TL (
"Agbal was one of the most successful central bank governors appointed by the AK Party. He adopted a long term perspective, a conventional approach with clear communication. He took over an economy at the edge of the cliff and took the right steps to reestablish credibility from zero. Unfortunately, he is not given a chance to finish what he started."