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5261. Refining the Story of the Financial Crises in Europe and the USA

Author:
Murat Yülek and Anthony Randazzo
Publication Date:
04-2012
Content Type:
Journal Article
Journal:
Insight Turkey
Institution:
SETA Foundation for Political, Economic and Social Research
Abstract:
A significant amount of research has already been made about the financial crisis. But a midterm primer is nevertheless necessary; it is critical to assess the nature of the crises to ensure that the proper lessons are learned. This article aims to present a history on the causes of the financial crisis that first emerged in the U.S. in 2007. Then it will analyze the roots of the current state of the economic crisis in Europe and the U.S. It will also assess the effects of the crises on the European and American economies. Consequently, a range of topics are discussed in the article, some of which have received deeper treatment elsewhere in economic literature, but have not been pieced together to provide a coherent past and present picture of the situation. The article concludes briefly on how this story relates to today's economic environment and the next steps that need to be taken going forward.
Topic:
Economics and History
Political Geography:
United States, America, and Europe

5262. The Political Origins of the Greek Crisis: Domestic Failures and the EU Factor

Author:
Dimitris Tsarouhas
Publication Date:
04-2012
Content Type:
Journal Article
Journal:
Insight Turkey
Institution:
SETA Foundation for Political, Economic and Social Research
Abstract:
This article argues that the origins of the Greek malaise are primarily political rather than economic and rooted in the delay, postponement, and half-hearted implementation of public policy reforms that preceded the crisis. The 2007-08 global economic crisis triggered market scrutiny over Greece, as it brought to an end a period of abundant liquidity and a relaxed attitude by global markets vis a vis Eurozone members. Greece's impossible fiscal position was brutally exposed, and a downward spiral began. The article also argues that although Greece set itself up for failure, the Eurozone's inability to act swiftly and early, to diagnose the problem correctly and to combine a policy mix consisting of budgetary consolidation and policy reform further exacerbated the problem. Despite the fact that disorderly default has been avoided and a sense of normalcy has returned, Greece has to move swiftly on the reforms front to avoid disaster.
Topic:
Economics
Political Geography:
Greece

5263. The Changing Dynamics of Turkey's Relations with Israel: An Analysis of 'Securitization'

Author:
Ali Balcı and Tuncay Kardaş
Publication Date:
04-2012
Content Type:
Journal Article
Journal:
Insight Turkey
Institution:
SETA Foundation for Political, Economic and Social Research
Abstract:
The present study seeks to answer the following questions: How was it possible that a state such as Turkey, which had until then pursued a low-profile policy in the Middle East, has able to forge a bold strategic alliance with the state of Israel in the 1990s? Conversely then, why was the unparalleled and positive nature of relations in the 1990s replaced by a hostile and toxic nature in the first decade of the 2000s? How can this difference in the relations between the 1990s and 2000s be explained? To answer such questions, this article uses the Copenhagen School's theory of securitization. This approach not only helps to illustrate the characteristics of different periods in Turkish-Israeli relations, it also helps to highlight the specificity of the politics of civil-military relations in foreign policy making.
Political Geography:
Turkey, Middle East, and Israel

5264. An Unfulfilled Opportunity for Reconciliation: Israel and Turkey during the Arab Spring

Author:
Nimrod Goren
Publication Date:
04-2012
Content Type:
Journal Article
Journal:
Insight Turkey
Institution:
SETA Foundation for Political, Economic and Social Research
Abstract:
2011 brought an opportunity for Israel and Turkey to mend their bilateral relations. The re-election of Erdoğan in June 2011, coupled with the dramatic events of the Arab Spring, provided a new political and regional context in which the relations could be reevaluated. This context enabled Turkey and Israel, with US mediation, to make progress towards drafting an agreement between them – an agreement intended to enable the two countries to restore normal working relations following the 2010 flotilla incident. However, the draft agreement was eventually rejected by the Israeli government in August 2011, leading to a new cycle of escalating tensions between the two countries. This article analyzes the Israeli decision-making process and discourse regarding the crisis with Turkey, and examines the changing circumstances of 2011, including the impact of the Arab Spring and the contrasting Israeli and Turkish reactions to it; the dynamics leading to the Israeli decision to reject the draft agreement; and the possible next phases in Israel-Turkey relations, including the conditions that can provide a new opportunity for the two former allies to become less alienated.
Topic:
Government
Political Geography:
United States, Turkey, and Israel

5265. Rationalization of Turkey-Iran Relations: Prospects and Limits

Author:
Bayram Sinkaya
Publication Date:
04-2012
Content Type:
Journal Article
Journal:
Insight Turkey
Institution:
SETA Foundation for Political, Economic and Social Research
Abstract:
This article examines Turkish Iranian relations in the 2000s, when the two countries initiated an unprecedented rapprochement. It argues that modification of foreign policy paradigms in Turkey and Iran led to the rationalization of bilateral relations that paved the way for improvement of economic and political ties between the two states. In addition to the rationalization, a supportive regional context helped them expand their relations. However, structural differences prevent the Turkish-Iranian rapprochement from turning into a strategic partnership. Moreover, restructuring of the regional context and rise of the specter of a conflictual relationship, which is still alive, threaten the future of Turkish-Iranian relations.
Topic:
Foreign Policy and Economics
Political Geography:
Iran and Turkey

5266. America's Asia-Pacific Strategy and Turkish-American Partnership

Author:
Kılıç Buğra Kanat
Publication Date:
04-2012
Content Type:
Journal Article
Journal:
Insight Turkey
Institution:
SETA Foundation for Political, Economic and Social Research
Abstract:
The debate on the future of the Turkish-American partnership has puzzled scholars in recent years due to its constant fluctuations. In the first year of the Obama administration, the parties tried to heal relations with high level exchanges and a new conceptual framework to define the relationship. However, in 2010 the discord between the US and Turkey on major policy issues, including Iran and relations with Israel, once again strained bilateral relations. With the Arab Spring, the pendulum swung once again. Since the eruption of the people's movement in different parts of the Middle East, Turkey and the US have acted in coordination, and taken similar positions in debates in international forums. The Obama administration announced a new Asia-Pacific strategy, which will entail the concentration of its diplomatic, military, and economic resources to build partnerships and curb emerging threats in this region. This new doctrine mayhave a major impact on US relations with Turkey by opening up new opportunities for cooperation and new necessities to deepen the partnership.
Political Geography:
America, Iran, Turkey, Middle East, Asia, and Arabia

5267. Turkey Between Environmental Protection and Energy Security : A Regional Perspective

Author:
Çiğdem Üstün
Publication Date:
04-2012
Content Type:
Journal Article
Journal:
Insight Turkey
Institution:
SETA Foundation for Political, Economic and Social Research
Abstract:
The debate on the future of the Turkish-American partnership has puzzled scholars in recent years due to its constant fluctuations. In the first year of the Obama administration, the parties tried to heal relations with high level exchanges and a new conceptual framework to define the relationship. However, in 2010 the discord between the US and Turkey on major policy issues, including Iran and relations with Israel, once again strained bilateral relations. With the Arab Spring, the pendulum swung once again. Since the eruption of the people's movement in different parts of the Middle East, Turkey and the US have acted in coordination, and taken similar positions in debates in international forums. The Obama administration announced a new Asia- Pacific strategy, which will entail the concentration of its diplomatic, military, and economic resources to build partnerships and curb emerging threats in this region. This new doctrine may have a major impact on US relations with Turkey by opening up new opportunities for cooperation and new necessities to deepen the partnership.
Topic:
Security and Economics
Political Geography:
United States, America, Turkey, Middle East, and Asia-Pacific

5268. Allies with the Infidels, the Ottoman and French Alliance in the Sixteenth Century by Christine Isom Verhaaren

Author:
Nicolas Vatin
Publication Date:
04-2012
Content Type:
Journal Article
Journal:
Insight Turkey
Institution:
SETA Foundation for Political, Economic and Social Research
Abstract:
Christine Isom-Verhaaren's book is not a history of the Franco-Ottoman alliance in the 16th century; rather its aim is to show how the Ottomans and French of the time saw this alliance, which has so often been presented by later historians as exceptional and shameful, and why its real meaning and historical context were misunderstood. Chapters one to five describe what she calls the "traditional historiography". In consequence what she says is not always new for Ottomanists and the book is clearly meant for a broad Anglophone readership.
Political Geography:
Europe and France

5269. The Muslim Empires of the Ottomans, Safavids, and Mughals

Author:
Christine Philliou
Publication Date:
04-2012
Content Type:
Journal Article
Journal:
Insight Turkey
Institution:
SETA Foundation for Political, Economic and Social Research
Abstract:
No abstract is available.
Topic:
Cold War
Political Geography:
Russia, China, Iran, Turkey, and Asia

5270. Turkey: A Short History by Norman Stone

Author:
William Armstrong
Publication Date:
04-2012
Content Type:
Journal Article
Journal:
Insight Turkey
Institution:
SETA Foundation for Political, Economic and Social Research
Abstract:
Early on in this slim account of 1,300 years' of Turkish history, Norman Stone suggests: "If you are Turkish you have to ask what you owe to: (1) the ancient native Turkish tradition; (2) Persia; (3) Byzantium; (4) Islam; (5) what sort of Islam; and (6) conscious westernization." It would be far-fetched to imagine that every modern Turk self-consciously ratiocinate these things and comes up with their own credit-debit account of historical heritage. This book's major strength, however, is to demonstrate the lesser-appreciated continuities-as well as sudden changes-that do make up so much of Turkish history. The Ottoman Empire, Stone tells us, initially saw itself as an inheritor of both the Seljuk Turk and Byzantine Greek traditions. Until the conquest of Constantinople in 1453, for example, the Ottomans had thrived as a cavalry-based nomadic "military empire" in the Seljuk tradition; indeed, the plan of the Topkapı Palace they built soon after the conquest-with its modest, low-rise pavilions and courtyards-deliberately imitates the tented headquarters of a nomadic Turkish chieftain. On the other hand, Mehmet II (the conqueror of Constantinople) spoke fluent Greek and was "in effect set upon retaking the eastern Roman Empire that Justinian had made great in the sixth century." There is also the fact that, at the time of the taking the city, the population of the Ottoman lands was 75 percent Christian.
Topic:
War
Political Geography:
Russia, Turkey, and Persia