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TUSIAD Turkey Letter: 26 August 2013

This Week:

Foreign Policy

  • Turkey’s Erdogan levels conspiratorial accusations at Israel
  • White House condemns Prime Minister Erdogan’s comments on Israel, Egypt
  • Foreign Minister Davutoğlu says US criticism of prime minister unacceptable
  • Turkey says Syria action possible without UN
  • Turkey says Syrian ‘red lines’ crossed
  • Protesters condemn ongoing violence in Syria, Egypt

Economy

  • Turkish Lira Slumps
  • Turkey Unexpectedly Raises Overnight Rate for Second Month

Domestic Politics

  • ‘Irrevocable’ articles stall constitution talks
FOREIGN POLICY
Turkey’s Erdogan levels conspiratorial accusations at Israel 
Turkish Prime Minister Tayyip Erdogan accused Israel on Tuesday of having a hand in the Egyptian military’s overthrow of President Mohamed Morsi, making comments likely to further undermine efforts to restore Ankara’s strained ties with Israel.
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White House condemns Prime Minister Erdogan’s comments on Israel, Egypt
The United States condemned comments by Turkish Prime Minister Tayyip Erdogan accusing Israel of playing a role in the Egyptian military’s overthrow of President Mohamed Morsi, a White House spokesman said on Tuesday. The White House called the Prime Minister’s accusation offensive, unsubstantiated and wrong.
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Foreign Minister Davutoğlu says US criticism of prime minister unacceptable
Turkish Foreign Minister Ahmet Davutoğlu has announced that Turkey conveyed to the U.S. side its reaction concerning the White House spokesperson’s “strong condemnation” of Prime Minister Recep Tayyip Erdoğan’s accusation of Israel of plotting the overthrow of the Egyptian president, describing the U.S. statement as “unacceptable.”
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Hurriyet Daily News, 22 August 2013, Turkey says US criticism of prime minister unacceptable
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Turkey says Syria action possible without UN
Turkey could join an international coalition to take action against the Syrian regime if the United Nations fails to implement sanctions against the government of Bashar al-Assad which allegedly recently used chemical weapons against Syrians in south Damascus, Foreign Minister Ahmet Davutoğlu said in remarks published on Monday.
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Turkey says Syrian ‘red lines’ crossed
Foreign Minister Ahmet Davutoğlu has stated that all red lines have been crossed in war-torn Syria and urged UN investigation teams to launch a quick investigation into claims that the Syrian regime used chemical gas in a recent attack that killed more than 1,000 and injured many more in Damascus.
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Protestors condemn ongoing violence in Syria, Egypt
Protestors rallied throughout Turkey on Friday to condemn the use of chemical weapons in Syria and the recent violence in Egypt.
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ECONOMY & ENERGY
Turkish Lira Slumps
The Turkish Lira hovered just off record lows near 2 liras to the dollar, while the 2-year benchmark bond yield inched above 10 percent in quiet trade on Aug. 26. The poor performance indicates that the Central Bank’s efforts to prevent the currency’s slide failed to soothe investor concerns.
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Turkey Unexpectedly Raises Overnight Rate for Second Month
Turkey’s central bank unexpectedly raised its overnight lending rate for a second month, after the lira weakened and inflation accelerated to a 10-month high in July. The bank raised its overnight rate, the top end of its rates corridor, to 7.75 percent from 7.25 percent.
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Bloomberg Business Week, 20 August 2013, Turkey Unexpectedly Raises Overnight Rate for Second Month
DOMESTIC POLITICS
‘Irrevocable’ articles stall constitution talks 
Turkey’s political parties remain defiant as Constitution Conciliation Commission’s attempts fail to form a consensus over what to do with the ‘irrevocable’ articles of the current Turkish Constitution. The parties could not attain a consensus during the session on Aug. 21, as deep cracks among the four parties were once more and strikingly highlighted during debates.
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These news items are compiled by TUSIAD Washington Representative Office (TUSIAD-US) from major news publications. They do not necessarily reflect the views or positions of TUSIAD. To subscribe or unsubscribe from this electronic publication, please send an e-mail to [email protected] These materials may be reproduced and/or distributed, in whole or in part, provided that its source is properly indicated as “TUSIAD-US Web site: www.tusiad.us