A Reversion to a Dickensian Variety of Capitalism: By Jayati Ghosh, Professor of economics at Jawaharlal Nehru... http://t.co/O0RuGIQ3gY
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Roubini Topic Archive: Banks and Risk Management
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IMF’s Turkey Article IV Staff Report: Grim Reading
I spent the last couple of hours reading through the IMF’s Turkey Staff Report for the 2011 Article IV Consultation (and the accompanying documents). It is now exactly midnight, and the embargo on the document has been lifted, so I can publish this post:) Let’s cut down to the chase right away: I think the [...]
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More on the Eurozone Downgrades and Turkey (and other EMs)
Just a short follow-up to Monday’s Hurriyet Daily News column on the impact of Eurozone downgrades on Turkey, which was also posted here. First, on whether the downgrades mattered. Let’s start with the short-run: For France, Spain and the EFSF, it didn’t, but for Portugal, it surely did. Speaking of Portugal, I am off to [...]
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Impact of Eurozone Downgrades on Turkey
Below is my latest Hurriyet Daily News column, which you can also read at the Daily News website. I have a short addendum coming up tomorrow, but before that, I should boast that I was right on target with the EFSF downgrade. But honestly, you didn’t need to be Nostradamus to see that one coming:) [...]
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Turkish Crisis-Mongering and Conspiracy Theories
I will be posting my Hurriyet Daily News column soon enough, but before that, I needed to take care of urgent business. There is a lot of crisis talk in Turkey of late. While today’s Twitter gossip of Fitch downgrading Turkey (I know exactly where that came from, and I assure you the person who [...]
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More on Turkish Monetary Policy
My 3200 character limit again prevented me from saying all I wanted to say in my latest Hurriyet Daily News column, which was also posted here at the blog. So I would like to provide a little bit more detail on some of the topics I touched upon, but before I do that, let me [...]
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Sarkozy’s bright idea
Below is the weekly guest column by Taylan Bilgic, which was published last Friday at Hurriyet Daily News. My comments are, as always, right below the column. [The European Central Bank’s three-year lending operation (LTRO), a first in its history, was met with huge demand Dec. 21. A total of 523 European banks borrowed [...]
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More on the Turkish connected lending story
Let’s start with a summary of the Isbank/CHP controversy that led me to the small exercise in last week’s column, which was also posted here: I already linked the Daily News article on the issue in the column, but if you’d like another version, here is what Today’s Zaman has to say. They actually have [...]
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Turkey: Connected lending for dummies
My attempts at catching up are almost over: Below is my Hurriyet Daily News column from last week, which you can also read at the Daily News website. As loyal readers know, I can never fit all I want to say to my confined space of 3200 characters (a little bit over 500 words), so [...]
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Turkish exposure to bank deleveraging
Below is the weekly guest column by Taylan Bilgic, which was published today at Hurriyet Daily News. My comments are right below the column, but note that this column was part of a special analysis on the effects of the Eurozone crisis on Turkey: Other than the introductory piece on the cover page and Taylan’s [...]
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What the Fund Has to Say on the Turkish Economy
The IMF just released the press information notice (PIN) from the recent Turkey Article IV Board Meeting. The whole document is rather short, but here are the interesting parts- I underlined the most important/interesting parts: Balance of Payments: While the Fund talks about the familiar BOP (and financing the BOP) risks, it also notes that [...]
