Let’s enjoy some good news, for a change
As I was reviewing the papers this morning, I told myself, “At last, there is good news” for the first time in a long time.
I did not frown because this result was achieved by the ruling Justice and Development Party. Who cares who did it? In the end, we will all benefit from it. Let’s not forget, as long as the economy goes well, then stability rules in the country and people are happy. Problems are solved much more easily. Unemployment drops.
It is a very nice development that the international ratings agency Fitch has upgraded Turkey’s outlook to “investable country.” However, we are not out of the woods yet. We have a long way to go.
First, the other two international ratings firms (Standard and Poor’s and Moody’s) need to increase their ratings. Investors will only act after that. The first step is also important indeed, but we need to be much more careful after this because the positive outlook granted could very quickly be revoked.
Investors could also suddenly escape. The effects of a downgraded outlook would be much more destructive.
Turkey does not need foreign currency anymore. It has sufficient foreign currency stocks.
What this country really needs is investment and production. Foreign currency comes to make money out of high interest rates. What is essential is local and foreign investment. It is permanent, creates welfare and prevents unemployment. However, the investor is scared. He is very touchy. It arrives with difficulty and runs away easily.
Because of this, the period ahead of us is very important. Correct policies should be applied and austerity measures are inevitable wherever needed.
Let’s not miss this opportunity. As I said, let’s enjoy this, for a change.
How come Şemdin Sakık?
Şemdin Sakık is reported to be a secret witness. What is worse, he has been influential with his testimonies at the Ergenekon case. He himself has asked for the removal of his secret status, saying, “I have nothing to hide.”
Of course, questions have been raised in everybody’s mind. What did Şemdin say? Who did he accuse? Were there any people arrested after his testimonies?
We do not know the details of these yet. We have reviewed the indictment and details of the testimony, but nothing concrete has come out yet.
No matter what, Şemdin’s witnessing has confused my mind also. Especially when it appears in a case like Ergenekon which already contains incredible judicial oddities, the situation has naturally become worse.
We cannot reject the Ergenekon case altogether because Şemdin was a secret witness, but we should also know that this fact will cast more shadows on the file.
Relations with Israel postponed to spring of 2015
The most frequently asked question during my New York visit a while ago was when Turkey was going to launch diplomatic relations with Israel. Nobody is expecting the relations to be as close as they used to be; if they can be opened and normalized, that would be sufficient.
The political bomb that Benjamin Netanyahu and Avigdor Liberman will cooperate for elections has upset all calculations.
No hope for compromise is left. Especially now, if we add our 2014 presidential elections and 2015 general elections to the equation, then we need to wait at least three more years for the normalization or opening of diplomatic relations with Israel. Nobody is holding out any hope for after that either.