...scandals and possible increased interest rates have lowered the expectations of Turkey’s economic growth for this year. The December corruption investigation that lead to the arrest of about 50 people including highly esteemed businessmen, the leader of the state-owned bank and the sons of three ministers spread rapidly in the international news market. The events have “put pressure on administration officials and the Central Bank to alter monetary policy to protect the lira and deter risk-adverse foreign investors from selling off Turkish debt. (APCO, 2014)” Turkey’s corruption scandal was set off by a telephone conversation in December allegedly with Prime Minister Recep Tayyip Erdogan telling his son to get millions of dollars out of the house for fear of an investigation. The conversation was denied by Erdogan’s office however it lead to a series of early morning home and office raids of his acquaintances. “The crisis has damaged Turkey’s already troubled economy (Arango, 2014)”. Countries have now looked at the government as somewhat untrustworthy and not capable of continuing current businesses. In February, citizens of the country protested and chanted for the government to resign. This only left the country in more turmoil and curious of whom would be elected in the upcoming March elections. By 45% popular vote, Erdogan was the winner however it is still unclear of what could come of Turkey’s economy. Under Erdogan, Turkey has thrived on a decade of solidity...
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...Transmittal Memo |TO: |Jacques Santer – President of the EU Commission | |From: |Joseph Donyo | |Re: |Turkey's admission in the EU | |Date: |6 May 1998 | In December 1997, members of the European Union (EU) met in Luxembourg, for a European Council summit, to talk about countries being considered for future EU membership. Among these countries, there was one remarkable absence: Turkey. Since it was excluded from this enlargement process for the foreseeable future, relations between the EU and Turkey have been very cold. Turkish Prime Minister, Mesut Yilmaz, has given the EU until the next European Council meeting in June to include Turkey in the pre-accession group of applicant countries. Otherwise, it has threatened to withdraw Turkey's application for membership. Even if such threats are unlikely to have an impact on the EU, they point out a major clash in the EU-Turkey relations. At this stage of my research, my point is not to argue whether Turkey should enter the EU or not. My research project is meant to find out whether it has the ability to meet European requirements...
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...Major conflicts throughout history have always led to a new way of arbitrating world affairs. The crash of the Soviet Union led to a new making peace process with a diversification of actors and a multilateral approach, especially after the election of Obama that made from liberty a higher priority than security. Since the WW2, Turkey has been considered as the eastern wing of NATO. Since the end of the Cold War, Turkey tried to become an active actor with its own agenda and its own priorities. It is no more a marginal actor in the international scene, especially concerning major conflicts in the Middle-East. To play the role in an efficient way, Turkey built an assertive foreign policy, based on 3 methodological and 5 operational principles. The first methodological principle is to act rather than to react. Those Acts must be consistent with the vision of the world Turkey built, and how it sees itself in this world. The second one is having a consistent view that strengthens its foreign policy. The Third one is making the civil and economic soft spreading power of Turkey their main argument. Those principles led to an operational vision based on five points. The first one is to strike the balance between the security dimension and the liberty dimension in its intern and extern policies. Despite serious neighborhoods problems with security and lack of democracy, Turkey achieved a great constitution revision and has a more and more powerful democracy, where some marginalized...
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...infrastructure, and a legal and social structure of a developing nation. Proximity to Europe, integration with European markets, the external anchor of the European Union accession, and a lengthy track record of solid economic management and structural reform are the drivers of Turkey’s long-run prospects (World Bank, 2010). Turkey’s high degree of integration with the world economy, through both trade and financial channels, resulted in the country becoming vulnerable to the impact of the global recession, with the economy contracting by 4.7% in 2009. That being said, the economy has now recovered to pre-crisis levels with growth reaching 7% in 2010, shown to be a larger growth than almost all European counterparts. Despite the economic and political expansion in the last 10 years, Turkey’s battle with corruption, unemployment, income inequalities, and the Kurdish problem have been risk factors for any business that considers investing. According to corruption rankings, Turkey was ranked below South Africa, and tied for a spot with Cuba (Transparency International, 2010). Sociopolitical Structure Turkey is a parliamentary democracy with a free market economy. Since legal reforms instituted in 1926, Turkey's judicial system has been based on the Swiss Civil Code, the Italian Penal Code, and the Neuchâtel (Swiss) Code of Civil Procedure. The 1982 Constitution guarantees judicial independence, and prohibits any government agency or individual from interfering with the operations of...
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...TURKEY’S POSITION AT EUROPEAN UNION AND TURKISH IMPRESSION IN GERMANY Introduction Countries tried to show their power and sovereignty with hard power. But now we are living in a century that soft power can be more powerful than hard power. Cultural diplomacy is one of the strongest soft power items of last century. With right strategy of cultural diplomacy, a new image of a country can be created at other countries. This can affect so many statistics of a country in a positive way, such as tourism and trade. There are still many countries which are not aware of the strength of soft power and cultural diplomacy. In the other hand there are countries which are aware of this strength and it is easy to see how they are successful to create an impressive image. United Kingdom, Germany and United States can be three examples to see success and power of cultural diplomacy. Turkey has been trying to attempt to European Union since so many years. All of attempts were not successful. What can be the reason for that? , Culture? , Impression of Turkey? , Politics? , Population? , Economics? , Religion? Or another question can be asked is, what is Turkey’s image at European Countries? What is Culture? The origin of the word “culture” in Latin “cultura” is a modern concept based on a term first used in classical antiquity by the Roman orator, Cicero: “cultura animi.” The term “culture” appeared first in its current sense in Europe in the 18th and 19th centuries, to connote...
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...Engaging more effectively with China is a must for Turkey. Several factors have affected relations between the countries: first, a paradigm shift in the approach to bilateral economic ties; second, a sense of mutual understanding between the two governments on the Uighur issue; and third, increasing acquaintance and cultural affinity between the Turkish and Chinese people. But there is a further potential factor: the two countries’ involvement in the Middle East In February when Xi Jinping, vice president of the People’s Republic of China, visited Turkey, the grand meeting hall of one of İstanbul’s largest convention centers witnessed an historic moment. Xi entered the hall to great fanfare, and responded to a standing ovation from literally hundreds of Turkish business executives with the announcement of several trade and investment projects intended to strengthen economic linkages between Turkey and China. Xi’s visit was important not only because he is the presumptive heir to President Hu Jintao, and hence the person who is likely to lead China over the coming 10 years, but also because his visit produced concrete results, such as 28 business agreements with total worth of $1.4 billion signed in a single day, cementing the strategic partnership agreement inked between the two countries back in 2010, and providing clues to the path along which Turkish-Chinese relations are likely to progress under Xi’s tenure. For Turkey, engaging more effectively with the new global economic...
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...Course: Academic writing Semester: Fall 2014 Academic Paper EU EXPANSION: Accession of Turkey and its potential impact on the atmosphere within the EU Rauf Asadullayev Instructor: Christopher Weilage Munich, Germany, 2014 Table of contents 1.Introduction………………………………………….…………………………3 2. The Association agreement…………………………………………….……..4 3. The Ankara Agreement………………….…………………………………...6 4. Customs Union………………………………………………………………..7 5. Turkish government and the accession of Cyprus in the EU………………8 5.1 Turkey’s short term economic effect on the EU…………………………..9 5.2 Turkey’s territorial advantages for the EU……………………………….10 5.3 Religion and culture in Turkey…………………………………………….11 5.4 Food in Turkey and its safety- Security and the EU……...………………12 6. Impact of EU’s democratic standards to Turkey…………………………..13 7. Conclusion…………………………………………………………………….16 Index of Abbreviations BTC- Baku Tbilisi Ceyhan EEC- European Economic Community EU-European Union EC- European Council EP- European Parliament FAO- Food and agriculture organization SEES-Southeastern European states Introduction Europe - the cradle of human civilization, boiling pot full of many various nationalities, cultures and languages. Geographical borders within and outside of the Europe have changed every time when a new Empires began to flourish. Even now, in the 21st century borders of EU are not defined clearly. Should the Borders be...
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...Name: - Kevin Binu Ninan Madonna ID: - 234879 Date: - 20/12/2014 Subject: - HIS 1010 Turkey’s most important domestic and international challenges today Turkey's fast late development accompanies reactions that have abandoned its economy defenseless. One worry is swelling, which was 10.4% in March—well over the national bank's target and the expansion rates of a large portion of Turkey's developing business peers. A greater concern is Turkey's becoming reliance on remote money to fuel its economy: its present record shortage arrived at the midpoint of 10% of GDP a year ago. Turkey's deficiency measured in dollars is second just to America's. Additional stressing still is that a great part of the remote capital that funds Turkey's present record shortfall is of the capricious sort (streams into banks or buys of stocks or securities), which can leave again rapidly. Particular set of challenges are: 1. The lack of a competitive edge Turkey's intensity - its capacity to contend in a worldwide commercial center - is hampered by high expenses and little gainfulness. Toward some degree this has been aided by coin devaluation, which has brought down expenses, however the hidden issues of disadvantage, a need to keep on moving further up the worth included chain, and an oppressive administrative environment remain. 2. A persistent current account deficit Connected to this is Turkey's tireless current record deficiency. In 2013, at 7.9 percent it was the most noteworthy...
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...------------------------------------------------- Accession of Turkey to the European Union | Turkey's application to accede to the European Economic Community, a predecessor of the European Union (EU), was made on 14 April 1987. Turkey has been an associate member since 1963.[2] After the ten founding members, Turkey was one of the first countries to become a member of the Council of Europe in 1949, and was also a founding member of the Organisation for Economic Co-operation and Development (OECD) in 1961[3] and the Organization for Security and Co-operation in Europe (OSCE) in 1973. The country has also been an associate member of theWestern European Union since 1992, and is a part of the "Western Europe" branch of the Western European and Others Group (WEOG) at theUnited Nations. Turkey signed a Customs Union agreement with the EU in 1995 and was officially recognised as a candidate for full membership on 12 December 1999, at the Helsinki summit of the European Council. Negotiations were started on 3 October 2005, and the process, should it be in Turkey's favour, is likely to take at least a decade to complete.[4] The membership bid has become a major controversy of the ongoing enlargement of the European Union.[5] ------------------------------------------------- History After the Ottoman Empire's collapse following World War I, Turkish revolutionaries led by Mustafa Kemal Atatürk emerged victorious in the Turkish War of Independence, establishing the modern Turkish...
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...THE TURKISH REPUBLIC CAG UNIVERSITY FACULTY OF ECONOMIC AND ADMINISTRATIVE SCIENCES THE DEPARTMENT OF INTERNATIONAL RELATIONS THE NEW ERA IN TURKISH FOREIG POLICY: A MULTI- DIMENSIONAL TURKISH FOREIGN POLICY Erhan KAYA SEMINARY THESIS ADVISER PROF. DR. ALI ENGIN OBA YENICE-MERSIN/2011 Approval of the Graduate School of Economic and Administrative Sciences ________________ Prof. Dr. Ali Engin Oba Adviser I certify that this thesis satisfies all the requirements as a thesis for the degree of Master of Science. ________________ Prof. Dr. Esat Arslan Head of Department This is to certify that we have read this thesis and that in our opinion it is fully adequate, in scope and quality, as a thesis for the degree of Master of Science. Examining Committee Members Prof. Dr. Esat Arslan ________________ Prof. Dr. Ali Engin Oba ________________ I hereby declare that all information in this document has been obtained and presented in accordance with academic rules and ethical conduct. I also declare that, as required by these rules and conduct, I have fully cited and referenced all materials and results that are not original to this work. Name, Last Name: Erhan Kaya Signature: I would like to thank Professor...
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...on East Thrace in Southeastern Europe. Turkey's location at the crossroads of Europe and Asia makes it a country of significant geostrategic importance. Turkey's largely freemarket economy is increasingly driven by its industry and service sectors, although it traditional agriculture sector still accounts for about 25% of employment. Oil began to flow through th BakuTbilisiCeyhan pipeline in May 2006, marking a major milestone that will bring up to 1 million barrels per day from the Caspian to market. Tourism in Turkey has experienced rapid growth in the last twenty years, an makes up an important part of the economy. 2. PESTE Factors 2.1 Political (P) Stability of Government Turkey’s current government (Justice and Development Party), Turkish Adalet ve Kalkınma Partisi (AKP), als called AK Party or Turkish AK Parti, political party that came to power in Turkey in the general elections of 2002 Prime minister of the party is Recep Tayyip Erdoğan since 2002. In the most recent election, Turkey's 17th general election was held on 12 June 2011 to elect 550 new members of Grand National Assembly. Justice and Development Party garnered 21,399,082 votes, which was almost half of the total votes and won a total of 327 seats. During his first few years of being a prime minister, he reformed Turkey's dictatorial rules and regulations and worked hard to ...
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...Introduction In recent years, to talk about changes and transformation in Turkish foreign policy have become common place1. Since the end of Cold war, many books and articles have been published claiming that Turkey’s external relations have undergone a profound change2. Most commentators when analysing Turkish foreign policy in the 1990s perceived a significant qualitative transformation in comparison with the foreign policy conducted during the Cold War, which is often described as passive and reactive. An assertive and multi-directional foreign policy was developed, and Turkey became much more active in its neighbourhood, establishing ties with the Caucasus and the Turkic Republics, participating in peacekeeping missions in the Balkans, promoting economic relations with Black Sea countries, increasing economic and political ties with the Middle East. However, a darker side of this activism in foreign policy was observed in the 1990s, when Ankara’s ready resort to the threat or the use of military force was particularly visible. Regular military incursions in Northern Iraq to crush PKK forces, threats against Syria, with troops amassed at the border in 1998, hard rhetoric during the Russian S-300 missiles crisis planned to be deployed in Cyprus in the same year are a few examples (Park 2005). In 1995, the Turkish Parliament announced that if Greece expanded its territorial waters from six to twelve miles, Turkey would go to war and war almost happened over ...
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...2015). However, Aston Martin has slowed down the market demand in Europe and North America (KPMG, 2013: 12). Nevertheless, Aston Martin plans to do an investment to expand the global market (Tift, 2015), Meanwhile, because Turkey is the fastest rising country for luxury cars, it seems advisable to target Turkey as a potential developing market (Porturkey, 2013). This report will attempt to evaluate the expansion of Aston Martin in Turkey with macro PESTLE analysis, followed by SWOT analysis, a market entry strategy and concluding recommendation for future marketing strategies based on the previous analysis. 2. PESTLE analysis 2.1. Political Turkish politics has become more stable and 50 political parties has compete in freedom, Turkey's political development is moving towards the EU accession process, the rule of law and civil liberties have been actively improved (Abylkassymova et al, 2011: 8; World Bank, 2015). Moreover, Turkey has significantly low trade barrier due to its customs union with the EU, Foreign companies are attracted by low income tax of 20%, which is an important driver of foreign direct investment(FDI) (Abylkassymova et al, 2011: 11). Furthermore, Turkey is a place where relatively easy to begin a business, as reported by the World Bank’s Doing Business Report 2015, which ranks Turkey above Italy and Greece, and also significantly exceeds the fast economic growth in China and Brazil (World Bank, 2014: 4). Nevertheless, Demirbag et al (2007: 275)...
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...financial crisis in 2001, Ankara adopted financial and fiscal reforms as part of an IMF program. The reforms strengthened the country's economic fundamentals and ushered in an era of strong growth averaging more than 6% annually until 2008. Global economic conditions and tighter fiscal policy caused GDP to contract in 2009, but Turkey's well-regulated financial markets and banking system helped the country weather the global financial crisis, and GDP rebounded strongly to around 9% in 2010-11, as exports returned to normal levels following the recession. Growth has dropped to roughly 2-4% in 2013-14. Turkey's public sector debt to GDP ratio has fallen below 40%, and two rating agencies upgraded Turkey's debt to investment grade in 2012 and 2013. Turkey remains dependent on often volatile, short-term investment to finance its large current account deficit. The stock value of FDI reached nearly $195 billion at year-end 2014, reflecting Turkey's robust growth even in the face of economic turmoil in Europe, the source of most of Turkey's foreign direct investment. Turkey's relatively high current account deficit, domestic political uncertainty, and turmoil within Turkey's neighborhood leave the economy vulnerable to destabilizing shifts in investor confidence. The Greek economy averaged growth of about 4% per year between 2003 and 2007, but the economy went into recession in 2009 as a result of the world financial crisis, tightening credit conditions, and Athens' failure to address a growing...
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...Internet sources and my class textbook as additional resources. Turkistan, a region in central Asia, is a Persian term which means “Turks’ land” or “land of the Turks”. The Young Ottoman Turks considered this name for their country before they decided on “Turkiye, an adaptation of the European name” Turkey (Lewis 333). Although “[t]he name Turkey has been given to…Anatolia…since its first conquest by the Turks in the eleventh century,” the Turks officially referred to their country as Turkey when it won its independence in 1923. (Lewis 1). Turkey’s relative geographical position distinguished it from most of the other countries of the world. It is situated on two continents: (southeastern) Europe and (southwestern) Asia. European Turkey, or Eastern Thrace, constitutes only 3 percent of the country’s land area, and “[t]he other 97 percent…is…in Asia and is called Anatolia, or Asia Minor” (Orr 19; Sheehan 7). Turkey’s neighbors are Greece and Bulgaria to the northwest; Iran, Georgia, Armenia, and Azerbaijan to the east; and Syria to the south. Three seas surround Turkey: the Mediterranean Sea on the south, the Black Sea on the north; and the Aegean Sea on the...
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