TURKPULSE No: 27-28.................................................... JANUARY  2001

TURKPULSE No:27 IS THE BANKING CRISIS OVER OR IN THE BALANCE?

The current banking crisis in Turkey was taken under control in a short time when the IMF promptly came to Turkey’s help with a pledge of $10.4 billion financing, but if not the crisis itself, the reasons for it are still holding good. These reasons are clearly political rather than economic and the days to follow may have unpleasant surprises for Turkey’s economy, as it is about to put into force certain vital foreign policy decisions ranging from Iraq to Cyprus and NATO. Is it a coincidence that President Bush designated an Armenian politician, on record for describing the Baku-Ceyhan pipeline as a “dream”, the Energy Secretary?

TURKPULSE No:28 US ENERGY SECRETARY IS SPEAKING THE TRUTH

President Bush’s new Energy Secretary has indeed told the truth when he said Baku-Ceyhan is a dream, but is there any alternative for energy-starving Turkey? Washington has the answer, but Ankara has reason to receive it cautiously. For Turkey’s decades old bitter experiences with the United States in the energy field as well as for future developments see the following article.

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