We’ve chronicled the tragicomical, slow-moving Turkish train wreck over the last couple years, but if your interest has been newly piqued alongside the latest, cross-asset cratering, the “best of” below captures most of what you need to know concerning Erdogan’s economic and policy approach.
Turkish Train Wreck Timeline:
- 2018 (pretty much any speech): “Higher Interest Rates Cause Inflation”
- May 11th, 2018: “my belief is: interest rates are the mother and father of all evil.”
- May 15, 2018: “I’m going to take over the central bank”
- July 10, 2018: Names Son-in-law as finance minister … cementing power grab over monetary policy
- May 6, 2019: Nullifies Instanbul Mayoral election due to the opposition party winning alleged fraud and irregularities.