SMEs in tourism areas hit by the crisis hard, reports Daily News Antalya representative. Note that while anecdotal, the piece implicitly contradicts the so-called research findings I was reporting on Wednesday, highlighting that it is really difficult to determine whether it is the SMEs or large guys affected more from the crisis.
The quick road to riches: Start up a mutual fund firm and invest in Turkey. I guess after March, you could have invested anywhere and would still have got extraordinary returns, but Turkey has been one of the high-fliers in terms of equities.
CBT President Yilmaz is the Central Banker of the year. I wonder who was voting- maybe Turkish banks and bond traders? The funnier thing is that this comes amidst the PM expressing his disdain for Central Bank independence in sheer frankness. BTW, maybe it is my memory playing tricks on me, but wasn't Gazi Ercel receiving similar awards in 2000 for the rapid inflation reduction in the tablita program at the time, before it all went bust with the constitutional (literally) crisis of 2000. Wasn't the same true in 2006 when failure to appoint a new governor following the applauded tenure of Sureyya Serdengecti coincided with a small EM bust. To be clear: I am in no way holding the CBT presidents of the time for the mishaps (there wasn't one in 2006 anyway), but there is an interesting correlation here, if not causation:)
The quick road to riches: Start up a mutual fund firm and invest in Turkey. I guess after March, you could have invested anywhere and would still have got extraordinary returns, but Turkey has been one of the high-fliers in terms of equities.
CBT President Yilmaz is the Central Banker of the year. I wonder who was voting- maybe Turkish banks and bond traders? The funnier thing is that this comes amidst the PM expressing his disdain for Central Bank independence in sheer frankness. BTW, maybe it is my memory playing tricks on me, but wasn't Gazi Ercel receiving similar awards in 2000 for the rapid inflation reduction in the tablita program at the time, before it all went bust with the constitutional (literally) crisis of 2000. Wasn't the same true in 2006 when failure to appoint a new governor following the applauded tenure of Sureyya Serdengecti coincided with a small EM bust. To be clear: I am in no way holding the CBT presidents of the time for the mishaps (there wasn't one in 2006 anyway), but there is an interesting correlation here, if not causation:)
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