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Turkey Letter: 18 July 2016

Domestic Politics

  • Erdogan Triumphs After Coup Attempt, but Turkey’s Fate Is Unclear
  • Turkey’s political parties in solidarity after coup attempt
  • Turks Flood Streets in Shows of Unity After Failed Coup, but Divisions Persist
  • 208 people killed by coup attempters: Turkey’s PM
  • Turkey detains 6,000 in failed coup amid signs of chaos in the military
  • Turkey widens post-coup purge, demands Washington hand over cleric
  • Turkish media resisted coup, but it won’t win any favors from the government

Foreign Policy

  • E.U. and U.S. Officials Urge Erdogan to Show Restraint After Coup Attempt in Turkey
  • John Kerry Rejects Suggestions of U.S. Involvement in Turkey Coup
  • Turkey’s EU Talks to Cease if Death Penalty Reintroduced
  • Kerry Says U.S. Awaits ‘Formal Request’ for Gulen Extradition
  • Turkey reopens air base for U.S fight against Islamic State: Pentagon
  • Turkish Coup Supporters Who Fled to Greece Granted Trial Extension
  • Turkey slams US State Department comments on southeast
  • UK-Turkey ties stronger than Boris Johnson’s quips: Turkish official
  • Israel expects reconciliation with Turkey to remain on course

Economy & Energy

  • Economic institutions’ moves give markets confidence after coup attempt: TÜSİAD
  • Turkish Stocks Down as Lira Regains Ground in Wake of Coup Attempt
  • Multinationals Watching Turkey, But Few Disruptions to Business
  • The Coup Failed, But Erdogan’s Wrath Keeps Investors on Edge
  • Led by Turkish Lira, Emerging-Market Currencies Shake Off Coup Jitters
  • Global Stocks Steady, Shrugging Off Turkey Coup Attempt
  • Oil, Gas Flows Through Turkey Unhindered After Coup Quelled
  • Turkey’s Military Coup Attempt Overthrows Tourism Revival
  • Turkey’s Current-Account Deficit Shrinks in May on Energy

Domestic Politics

Erdogan Triumphs After Coup Attempt, but Turkey’s Fate Is Unclear

Standing atop a bus outside his mansion in Istanbul on Saturday night, President Recep Tayyip Erdogan, victorious after putting down a coup attempt by renegade factions of the military, told his followers, “We only bow to God.”

New York Times, Erdogan Triumphs After Coup Attempt, but Turkey’s Fate Is Unclear, July 17, 2016


Turkey’s political parties in solidarity after coup attempt

Parliament’s general assembly held an extraordinary session on the afternoon of July 16 and the four political parties represented at Turkey’s legislative body issued a joint declaration condemning the failed military coup attempt and underscoring solidarity against threats to the democracy.

Hurriyet Daily News, Turkey’s political parties in solidarity after coup attempt, July 16, 2016


Turks Flood Streets in Shows of Unity After Failed Coup, but Divisions Persist

Turks from across political and sectarian lines joined over the weekend in rallies and religious funerals for those killed in the failed putsch, occasions that served as rare platforms for unity in a country still deeply divided by their president’s rule.

Wall Street Journal, Turks Flood Streets in Shows of Unity After Failed Coup, but Divisions Persist, July 17, 2016


208 people killed by coup attempters: Turkey’s PM

Turkey’s Prime Minister Binali Yıldırım has said that a total of 208 people were killed by coup attempting soldiers, of which 60 were police officers, three were soldiers and 145 were civilians. Some 1,491 people were also wounded.

Hurriyet Daily News, 208 people killed by coup attempters: Turkey’s PM, July 18, 2016


Turkey detains 6,000 in failed coup amid signs of chaos in the military

The arrests of thousands of military officers, soldiers and other suspects linked to a failed coup in Turkey have opened a punishing campaign by the authorities against alleged plotters amid signs of chaos in the armed forces. Turkey’s justice minister confirmed that as many as 6,000 people — including generals and a commander of an air base used by U.S. warplanes to target Islamic State militants — had been detained by early Sunday.

Washington Post, Turkey detains 6,000 in failed coup amid signs of chaos in the military, July 17, 2016


Turkey widens post-coup purge, demands Washington hand over cleric

Turkey purged its police on Monday after rounding up thousands of soldiers in the wake of a failed military coup, and said it could reconsider its friendship with the United States unless Washington hands over a cleric Ankara blames for the putsch.

Reuters, Turkey widens post-coup purge, demands Washington hand over cleric, July 18, 2016


Turkish media resisted coup, but it won’t win any favors from the government

At the Dogan Media Center, a sleek glass building here that houses some of Turkey’s major media outlets, the failed coup arrived just before dawn Saturday with the low drone of a Black Hawk helicopter setting down in a nearby parking lot.

Washington Post, Turkish media resisted coup, but it won’t win any favors from the government, July 17, 2016


Foreign Policy

E.U. and U.S. Officials Urge Erdogan to Show Restraint After Coup Attempt in Turkey

The United States and the European Union stepped up pressure on President Recep Tayyip Erdogan of Turkey on Monday not to use the attempted coup against him as an excuse for an authoritarian crackdown, even suggesting that Turkey’s continued membership in NATO and its aspirations of joining the European Union could be at stake.

New York Times, E.U. and U.S. Officials Urge Erdogan to Show Restraint After Coup Attempt in Turkey, July 18, 2016


John Kerry Rejects Suggestions of U.S. Involvement in Turkey Coup

Signs of testy relations between Turkey’s embattled government and the United States continued Sunday, as Secretary of State John Kerry denounced any suggestion of American involvement in Friday’s coup.

New York Times, John Kerry Rejects Suggestions of U.S. Involvement in Turkey Coup, July 17, 2016


Turkey’s EU Talks to Cease if Death Penalty Reintroduced

A reintroduction of the death penalty by Turkey would effectively end the country’s European Union membership talks, a spokesman for German Chancellor Angela Merkel said.

Wall Street Journal, Turkey’s EU Talks to Cease if Death Penalty Reintroduced, July 18, 2016


Kerry Says U.S. Awaits ‘Formal Request’ for Gulen Extradition

The U.S. is awaiting a formal plea to turn over a Pennsylvania-based cleric suspected by Turkey of inspiring a military coup attempt, said Secretary of State John Kerry dismissing as “irresponsible” any accusation of U.S. involvement in the uprising.

Bloomberg, Kerry Says U.S. Awaits ‘Formal Request’ for Gulen Extradition, July 17, 2016


Turkey reopens air base for U.S fight against Islamic State: Pentagon

Turkey will reopen its Incirlik air base to U.S. planes, used to attack Islamic State, following an attempted coup, the Pentagon said on Sunday. “After close coordination with our Turkish allies, they have reopened their airspace to military aircraft. As a result, counter-ISIL coalition air operations at all air bases in Turkey have resumed,” a Pentagon statement said.

Reuters, Turkey reopens air base for U.S fight against Islamic State: Pentagon, July 17, 2016


Turkish Coup Supporters Who Fled to Greece Granted Trial Extension

The eight military officers who fled to Greece after supporting Friday’s attempted coup have been granted a three-day postponement to their trial for illegal entry into the country, according to their lawyers.

Wall Street Journal, Turkish Coup Supporters Who Fled to Greece Granted Trial Extension, July 18, 2016


Turkey slams US State Department comments on southeast

U.S. State Department spokesman John Kirby’s comments regarding the Human Rights Watch (HRW) report on southeastern Turkey “do not reflect reality,” Turkish Foreign Ministry spokesman Tanju Bilgiç said on July 14.

Hurriyet Daily News, Turkey slams US State Department comments on southeast, July 15, 2016


UK-Turkey ties stronger than Boris Johnson’s quips: Turkish official

Turkey will draw a line under disparaging comments by Britain’s new foreign secretary Boris Johnson about President Tayyip Erdogan and his nation, a senior official said on Thursday, but warned relations would be damaged if he repeated such insults.

Reuters, UK-Turkey ties stronger than Boris Johnson’s quips: Turkish official, July 14, 2016


Israel expects reconciliation with Turkey to remain on course

Israel reacted tersely on Sunday to a thwarted coup in Turkey, saying it expected a new reconciliation deal between the two regional powers following a six-year rift to be implemented as planned.

Reuters, Israel expects reconciliation with Turkey to remain on course, July 17, 2016


Economy & Energy

Economic institutions’ moves give markets confidence after coup attempt: TÜSİAD

Turkey’s leading business organization has said that a joint stance against the July 15 failed coup attempt from all social and economic circles was of great value and solid measures by the economic administration fueled optimism and confidence in the markets, in a written statement on July 18.

Hurriyet Daily News, Economic institutions’ moves give markets confidence after coup attempt: TÜSİAD, June 18, 2016


Turkish Stocks Down as Lira Regains Ground in Wake of Coup Attempt

Turkish stocks were down Monday after a failed coup attempt by factions of the military rocked the country, claiming more than 250 lives, while the government sought to assuage investors’ fears by taking precautions to stabilize markets.

Wall Street Journal, Turkish Stocks Down as Lira Regains Ground in Wake of Coup Attempt, July 18, 2016


Multinationals Watching Turkey, But Few Disruptions to Business

Multinationals with business in Turkey scrambled over the weekend to check on staff and draft contingency plans, though few were pulling out employees or reporting major disruptions Sunday after the government appeared to reassert control after Friday’s attempted coup.

Wall Street Journal, Multinationals Watching Turkey, But Few Disruptions to Business, July 17, 2016


The Coup Failed, But Erdogan’s Wrath Keeps Investors on Edge

Fresh from an election victory that secured his party’s rule for four years, Prime Minister Ahmet Davutoglu in January assured investors in London that Turkey was a safe place for their cash. Four months later he was forced to resign and two months on from that, F-16 fighter jets bombed parliament in a coup attempt.

Bloomberg, The Coup Failed, But Erdogan’s Wrath Keeps Investors on Edge, July 17, 2016


Led by Turkish Lira, Emerging-Market Currencies Shake Off Coup Jitters

The Turkish lira rebounded against the U.S. dollar on Monday, and currencies from South Africa to Mexico recovered as emerging markets shook off concerns generated by a failed coup in Turkey.

Wall Street Journal, Led by Turkish Lira, Emerging-Market Currencies Shake Off Coup Jitters, July 18, 2016


Global Stocks Steady, Shrugging Off Turkey Coup Attempt

Global stocks held steady Monday as investors shrugged off the weekend’s events in Turkey, signaling the country’s failed coup attempt wouldn’t have a wider impact on financial markets.

Wall Street Journal, Global Stocks Steady, Shrugging Off Turkey Coup Attempt, July 18, 2016


Oil, Gas Flows Through Turkey Unhindered After Coup Quelled

Oil tankers are loading and unloading cargoes normally at Turkey’s ports and sailing without interruption in the nation’s waters after forces loyal to President Recep Tayyip Erdogan crushed an attempted coup.

Bloomberg, Oil, Gas Flows Through Turkey Unhindered After Coup Quelled, July 17, 2016


Turkey’s Military Coup Attempt Overthrows Tourism Revival

The unsuccessful uprising within Turkey’s military over the weekend dashed hopes of reviving travel bookings for what remains of the peak mid-year travel season, following a 10 percent decline in visitors to the country in the first quarter of this year. The number of international visitors to Turkey is expected to decline 5.2 percent this year to 32.9 million, according to Euromonitor International.

Bloomberg, Turkey’s Military Coup Attempt Overthrows Tourism Revival, July 17, 2016


Turkey’s Current-Account Deficit Shrinks in May on Energy

Turkey’s current-account deficit narrowed for a 10th month in May on lower energy costs, but less than expected.

Bloomberg, Turkey’s Current-Account Deficit Shrinks in May on Energy, July 14, 2016