• Medientyp: E-Book
  • Titel: Economic Meltdown in Turkey : Great Divergence Fueled by Erdogan’s Quixotic Policies
  • Beteiligte: Taskinsoy, John [Verfasser:in]
  • Erschienen: [S.l.]: SSRN, 2022
  • Umfang: 1 Online-Ressource (72 p)
  • Sprache: Englisch
  • DOI: 10.2139/ssrn.4190664
  • Identifikator:
  • Entstehung:
  • Anmerkungen: Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments August 15, 2022 erstellt
  • Beschreibung: Mustafa Kemal (Atatürk) abolished the Ottoman Empire in 1922 by overthrowing the last sultan Mehmet VI Vahdettin and established the Republic of Turkey as a secular state on 29 October 1923. After Atatürk’s death on 10 November 1938, the Turkish Armed Forces has safeguarded his principles known as Kemalism and has protected the country from domestic and external enemies. In malignant times (non-secular ideologies, anarchy, or political terrorism), the Turkish military reserves the right to intervene via different forms of coups (coup d'état, coup by memorandum, and e-coup), which have always resulted in party closures and banned politicians. Between the coup decades (1960-1997), Turkey has faced a total of nine coup attempts, i.e. the Turkish Armed Forces seized power from the ruling government in both 1960 and 1980 coup d'états; in the 1971 coup by memorandum and the 1997 post-modern coup, prime ministers from center-right Justice Party’s Süleyman Demirel and Islamist Welfare Party’s Necmettin Erbakan were forced to step down. Excluding the 2016 failed coup attempt by a fraction of the military, the 2007 e-memorandum (e-coup) was the military’s last failed intervention that did not result in the removal of Erdoğan who knew that his goal of pushing forward an Islamist agenda would only be possible if the Turkish military along with the judiciary were bent to his will. The AKP’s resounding victories in the 2011 elections, the 2017 constitutional referandum for presidential system change, and the 2018 presidential election gave Erdoğan a rare opportunity to take control of key institutions such as the parliament, the presidency, the judiciary, the military, the police, and the media. President Erdoğan’s grand strategy has backfired; Turkey is now in deeper financial crisis/meltdown than ever before; for instance, the value of lira has depreciated the fastest among emerging currencies, i.e. from 3.65 per USD (2017) to 17.94 per USD (August14, 2022; with the external debt approaching to $500 billion and the inflation has skyrocketed to dizzying heights (circa 100%), another high-magnitude currency crisis may be knocking at Turkey’s door
  • Zugangsstatus: Freier Zugang