Wednesday, March 10, 2010

The end of a long-running soap opera

You probably heard the news, but if you haven't, the Turkey-IMF saga has come to an end:

For my part, I am really happy for my good call, done at a time the consensus view was that the agreement would be sealed in a matter of weeks, if not days:

I guess the Fund was no more foolish than the Na'vi, after all:)

Anyway, this turn of events brings to questions to mind:

1. I don't want to be labeled as a conspiracy theorist, but I am just wondering about yesterday's weak Treasury auction. I really would not doubt the Fund's or the Treasury's integrity (no sarcasm here); actually, that's why I am confused.

2. As in earlier IMF-related announcements, some have already started speculating on the implications of this on the possibility of early elections. Although I did argue for early elections in my latest Forbes piece, I am not sure about what no Stand-by would mean for elections:

I have yet to put this column in by blog, but maybe the PM also believes, as I argue in the piece, that the referendum is likely to be perceived not on the constitutional changes, but on the AKP. As the French say, on verra:)

BTW, a couple of bad apples are attacking at my Forbes columns, labelling me a pen-for-hire for Dogan, paid to scare investors away. So I'd appreciate any smart comments there, even if you 100% disagree with all I am saying. At least, the comments section will improve a bit:)...
Sent by BlackBerry Internet Service from Turkcell

No comments: