Page 8 - TURKRptOct21

Discussions over the tax hike plans continue.
The plan is to pump money via fiscal policy instead of monetary policy. However, there is inflation now, which has been kept in the form of asset price bubbles across decades long money printing frenzy. Via fiscal or monetary policy but no one can think about stopping the money printing.
● Virus lockdowns and demand conditions in Europe. Winter may bring new measures.
● Halkbank case: On April 12, a hearing was held at the 2nd US Circuit Court of Appeals in Manhattan, a higher court will decide whether Halkbank can be prosecuted by the US. The appeals court did not say when it will rule. The case stays politicised.
● Erdogan has managed to dig his claws into a “transactional” partnership with Joe Biden.
He took over the Kabul Airport mission in Afghanistan. Questions are many how he will serve his mission in such a hell.
The Biden administration is behind the Erdogan regime now but Erdogan wants photo shootings and Biden says no. Such are Erdogan’s growing difficulties, though, the Biden administration’s tentative support and photo shootings may not be enough.
Of late, the market has, interestingly, been going easy on Ankara’s monetary policies despite unexplainable rate cuts.
● NOT CONFIRMED by the White House: Erdogan will meet with US President Joe Biden on the margins of the G20 summit in Rome scheduled for October 30-31, state broadcaster TRT Haber said on September 28.
● Afghanistan: Turkey may engage in a war in hell at any moment as its personnel (only civilians) at the airport are open targets and it is said that Turkish military personnel are waiting in Pakistan in case of an emergency.
● September 26: Elections held in Germany. 735 seats, 368 required for majority. Germans will talk about coalitions now. A SPD+Greens+FDP or Left Party coalition may spell some trouble for the Erdogan regime but social democrats will be the big brother in any case and mainstream parties never care about human values.
8 TURKEY Country Report October 2021 www.intellinews.com