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TUSIAD Turkey Letter: 09 March 2015

Foreign Policy

  • Turkish-US ties constantly sinking, says top academic
  • Turkish PM criticizes UN over ‘no Plan A’ to end Syria war
  • Turkish defense minister pledges support to Iraq, Peshmerga

Economy and Energy

  • Turkish PM Davutoğlu holds hasty meeting with Central Bank head on return from New York
  • Citigroup Sells Stake in Turkish Bank for $1.16 Billion
  • Turkish Central Bank cuts forex deposit rates, lira firms
  • Turkey’s unemployment rate hit 9.9 percent in 2014

Domestic Politics

  • Turkey’s former intel chief withdraws decision to run for Parliament
  • AKP ‘home’ for former president Gül, Turkish PM says

Foreign Policy

Turkish-US ties constantly sinking, says top academic
Relations between Ankara and Washington have been consistently strained in recent years, according to Professor Kemal Kirişci of the Brookings Institute. However, despite a loss of trust between Ankara and Washington, Turkey’s relative stability amid chaos remains important for the US.
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Hurriyet Daily News, March 9, 2015, Turkish-US ties constantly sinking, says top academic, http://www.hurriyetdailynews.com/turkish-us-ties-constantly-sinking-says-top-academic.aspx?pageID=238&nID=79355&NewsCatID=510

Turkish PM criticizes UN over ‘no Plan A’ to end Syria war
Turkish Prime Minister Ahmet Davutoğlu took a swipe at the United Nations and world powers on March 5 over their failed efforts to end the war in Syria, saying they lacked a clear strategy.
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Hurriyet Daily News, March 6, 2015, Turkish PM criticizes UN over ‘no Plan A’ to end Syria war, http://www.hurriyetdailynews.com/turkish-pm-criticizes-un-over-no-plan-a-to-end-syria-war-.aspx?pageID=238&nID=79283&NewsCatID=510

Turkish defense minister pledges support to Iraq, Peshmerga
During his visit to Iraq on March 4, Turkish Defense Minister Ismet Yılmaz said Turkey is ready to give all kinds of “intelligence and logistical support” to the neighboring country’s government in the fight against terrorism.
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Hurriyet Daily News, March 4, 2015, Turkish defense minister pledges support to Iraq, Peshmerga, http://www.hurriyetdailynews.com/turkish-defense-minister-pledges-support-to-iraq-peshmerga.aspx?pageID=238&nID=79197&NewsCatID=510

Economy and Energy

Turkish PM Davutoğlu holds hasty meeting with Central Bank head on return from New York
Prime Minister Ahmet Davutoğlu has held meetings with the chiefs of key monetary and financial institutions, including the Central Bank governor, shortly after returning from New York where he had sought to assure investors spooked by President Recep Tayyip Erdoğan’s recent tirades against the Central Bank.
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Hurriyet Daily News, March 8, 2015, Turkish PM Davutoğlu holds hasty meeting with Central Bank head on return from New York, http://www.hurriyetdailynews.com/turkish-pm-davutoglu-holds-hasty-meeting-with-central-bank-head-on-return-from-new-york.aspx?pageID=238&nID=79344&NewsCatID=338

Citigroup Sells Stake in Turkish Bank for $1.16 Billion
Citigroup said on Thursday that it had sold its 9.9 percent stake in Akbank of Turkey for about $1.16 billion.  Citigroup, a New York banking giant, said it had sold 396 million shares in Akbank for 7.45 Turkish lira, or $2.92, apiece. It did not say who bought the stake.
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New York Times, March 5, 2015, Citigroup Sells Stake in Turkish Bank for $1.16 Billion, http://www.nytimes.com/2015/03/06/business/dealbook/citigroup-akbank.html?ref=todayspaper

Turkish Central Bank cuts forex deposit rates, lira firms
The Turkish Central Bank said on March 9 it was cutting its one-week forex deposit interest rates, triggering gains in the lira after a week of sharp declines driven partly by worries over political pressure on the bank.
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Hurriyet Daily News, March 9, 2015, Turkish Central Bank cuts forex deposit rates, lira firms, http://www.hurriyetdailynews.com/turkish-central-bank-cuts-forex-deposit-rates-lira-firms.aspx?pageID=238&nID=79392&NewsCatID=344

Turkey’s unemployment rate hit 9.9 percent in 2014
The unemployment rate was 9.9 percent in 2014, rising from 9.7 percent in the previous year, the Turkish Statistics Institute (TÜİK) announced on March 6.  The number of unemployed persons aged 15 years old and over was 2.8 million people in 2014, according to the TÜİK data.
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Hurriyet Daily News, March 6, 2015, Turkey’s unemployment rate hit 9.9 percent in 2014, http://www.hurriyetdailynews.com/turkeys-unemployment-rate-hit-99-percent-in-2014.aspx?pageID=238&nID=79275&NewsCatID=347

Domestic Politics

Turkey’s former intel chief withdraws decision to run for Parliament
Turkey’s former intelligence chief, Hakan Fidan, has withdrawn his application to the ruling party to run for parliament after President Recep Tayyip Erdoğan’s strong opposition to his decision to quit the strategic position.
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Hurriyet Daily News, March 9, 2015, Turkey’s former intel chief withdraws decision to run for Parliament, http://www.hurriyetdailynews.com/turkeys-former-intel-chief-withdraws-decision-to-run-for-parliament-.aspx?pageID=238&nID=79430&NewsCatID=338

AKP ‘home’ for former president Gül, Turkish PM says
Turkish Prime Minister Ahmet Davutoğlu has supported President Recep Tayyip Erdoğan’s endorsement for the return of former President Abdullah Gül to the ruling party.
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Hurriyet Daily News, March 9, 2015, AKP ‘home’ for former president Gül, Turkish PM says, http://www.hurriyetdailynews.com/akp-home-for-former-president-gul-turkish-pm-says.aspx?pageID=238&nID=79389&NewsCatID=338