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61. Gold Exchange Standard in its 40th Year of Abolition: Jacques Rueff Re-Visited

Author:
Onur Bayramoğlu
Publication Date:
03-2012
Content Type:
Policy Brief
Institution:
Global Political Trends Center
Abstract:
While the post-war international monetary system that evolved under the leadership of the U.S. dollar has secured credit abundance – and hence contributed to global growth – the system has also revealed its deficiencies already by 1950's. In contrary to the 1930's when the world's main problem was chronic deflation; two decades later, the problem has become chronic inflation and fiscal deficits. Since then many blamed the indiscipline of the Keynesian school of thought and the inability of the U.S. dollar to become a global “public good” by being a stable international currency. In this Policy Brief, I overview the many aspects of the post-war international monetary system through the lens of the post-war French economist, Jacques Rueff, and question the applicability of his longproposed gold standard in today's highly integrated and speculative money markets.
Topic:
Economics, International Trade and Finance, Markets, Monetary Policy, and Financial Crisis
Political Geography:
United States

62. Egypt: The Marriage of Islamism and the System

Author:
Dr. Cengi Günay
Publication Date:
05-2012
Content Type:
Policy Brief
Institution:
Global Political Trends Center
Abstract:
The “January 25 Revolution” was not a classic revolution. President Mubarak's fall did not entail the overthrow of the regime, neither alter the elites or destroy their institutions, nor reverse the social situation. Although power structures and economic patterns were not removed, Mubarak's fall set an end to exclusive authoritarian despotism and initiated a process of power sharing; a so called passive revolution characterised by the absorption of the “enemies' elites” into the system. From this perspective, legalisation has been only a further step in the Islamists' long and rocky road of integration through moderation. Initially based on tactical considerations, shifts in methods and behaviour usually also evoke a shift in emphasis from ideological conceptions to political pragmatism. The absorption of the Islamist elites supported a process of embourgeoisement and de-­â€ ideologization. This did not entail a departure from Islamic tenets, but rather from ideological conceptions which seemed more and more unrealistic in a globalized world. The integration of de-­â€radicalised and moderated socially conservative Islamist groups with market economy and parliamentary democracy promises not only the prevention of political and economic turmoil, but also guarantees the reinforcement of the existing patterns of domination.
Topic:
Democratization, Islam, and Regime Change
Political Geography:
Africa and Arabia

63. Turkey's Standing in Gas Pipeline Games

Author:
Olgu Okumus
Publication Date:
03-2012
Content Type:
Policy Brief
Institution:
Global Political Trends Center
Abstract:
Since September 2011, the Eurasian gas market has been facing shocking bi-monthly announcements: on September 23, British Petroleum (BP) announced the South East Europe Pipeline (SEEP); on December 26, Turkish and Azeri authorities announced their joint agreement for the Trans-­Anatolian Pipeline (TANAP); and on February 26, the Shah Deniz II Consortium announced it was undertaking exclusive negotiations with the Trans Adriatic Pipeline (TAP). The shock wave intensified when the Turkish Energy Minister hinted that a new agreement allowing Russia to build its own South Stream pipeline under the Black Sea using Turkish territorial waters was in the works. Now the ultimate question of the Eurasian energy market is: “Which of these projects will be built?” This Policy Brief seeks to answer this question by analyzing Turkey's standing in Eurasian energy diplomacy in the perspective of energy transit projects competing for building the Southern Energy Corridor of gas transit from the Caspian zone to Europe. First, I present a short review of Turkish strategy in Eurasian energy diplomacy. Secondly, I detail the driving forces behind Turkish energy policy. I then conclude with some remarks about different scenarios of Turkish energy policy in the framework of the Southern Energy Corridor.
Topic:
Security, Diplomacy, Energy Policy, Markets, and Natural Resources
Political Geography:
Europe and Turkey

64. Prospects for Global Growth in 2012

Author:
Onur Bayramoğlu
Publication Date:
03-2012
Content Type:
Policy Brief
Institution:
Global Political Trends Center
Abstract:
The current concern among many is that what we are faced today is not a usual crisis that is part of the economic cycle, but an era of great stagnation with low growth and high unemployment, not witnessed since the Great Depression of the 1930's. One wonders which country will drive global growth while major actors such as the European Union are now financial casinos, the United States is continuously losing its dynamism, Japan is struggling under demographical problems, and the emerging markets are still too small and volatile. Once again, policy makers acknowledge that the problems of growth are global and systematic; such that if one faces an issue, all of them get contaminated. However, they still seek for solutions in mercantilist national policies.
Topic:
Economics, Globalization, International Trade and Finance, Markets, and Financial Crisis
Political Geography:
United States and Europe

65. Turkey-NATO Relations at the 60th Anniversary

Author:
Sofia Hafdell
Publication Date:
03-2012
Content Type:
Policy Brief
Institution:
Global Political Trends Center
Abstract:
After 60 years of membership in the North Atlantic Treaty Organization (NATO), Turkey’s role in the alliance stands strong amid new security threats and challenging regional change. It also largely corresponds to the New Strategic Concept of the 2010 Lisbon Summit, outlining the range of principles to which the members must adopt in order to continue effective cooperation and meet new responses, capabilities and partners (NATO, 2010). In light of this, Turkey’s strategic geography is crucial for the new security environment in the Euro-Atlantic region and beyond. Taking the recent examples of the intervention in Libya and the missile defense system, this policy update will highlight the importance of Turkey’s role within NATO regardless of initial foreign policy disagreements with the alliance and recent negative trends in Turkish public opinion towards the West.
Topic:
Security, Foreign Policy, NATO, International Cooperation, Public Opinion, and History
Political Geography:
Europe, Turkey, and Mediterranean

66. Young Minds Rethinking the Mediterranean

Author:
Nihan Akıncılar, Anna Alexieva, Jennifer Brindisi, Evinç Doğan, Amanda E. Rogers, and Beatrice Schimmang
Publication Date:
12-2011
Content Type:
Book
Institution:
Global Political Trends Center
Abstract:
In this paper, Europeanization of minority rights in Turkey will be explained in detail and in the conclusion part, it will be compared and contrasted with the Europeanization of minority rights in Greece. In this comparison, it is difficult to compare and contrast the mechanisms of Europeanization in Turkey and Greece because these mechanisms are suitable for the member states of the European Union (EU). For the candidate countries, the question of “how it is Europeanized” can be only answered with conditionality. Therefore, instead of trying to adapt Turkey in the case of minority rights to the mechanisms of Europeanization for the member states, in this study, it will be dealt with how the EU matters in affecting the minority rights protection in candidate and member states. Therefore, what this study implies when it is expected to explain Europeanization of mi`nority rights in Turkey is not to handle this case through the Europeanization theories, but how the EU affects the candidate countries through conditionality.
Topic:
Conflict Resolution, Conflict Prevention, Foreign Policy, Political Violence, Human Rights, War, and Political Theory
Political Geography:
Europe, Turkey, and Greece

67. The Turkish Internal Reform and Foreign Policy Shift: Implications for the Cyprus Talks

Author:
Chrysostomos Pericleous
Publication Date:
06-2011
Content Type:
Policy Brief
Institution:
Global Political Trends Center
Abstract:
Internal social change in Turkey, inaugurated by the liberalization of the economy in the 1980s and given a new impetus by Turkey's EU accession path during the AKP governments, has engineered a momentous reform process, which marks the beginning of a new post-Kemalist era in the country. Steady economic growth, along with democratization, brings new social forces to the forefront of the political arena and makes them stakeholders in the policymaking processes. As a result, one can observe a substantive shift in Turkey's foreign policy, from the “hard power” model of the Kemalist era governed by the siege syndrome, to the “soft power” approach of Ahmet Davutoğlu's doctrine of “nil problems with neighbors”, governed by a feeling of confidence that liberates the country from past obsessions. This foreign policy shift removes the Cyprus problem from the sphere of the untouchable grand national issues as well as from its historical context, and leads to a rationalization that allows for a compromise win-win settlement. Within this framework, Turkish Prime Minister Erdoğan, having won a new mandate with a larger ever-popular support, has a free hand to take the initiative for a lasting settlement of the protracted Cyprus conflict. The practical recommendations made in this regard constitute substantive political actions, which, if materialized, would decisively contribute towards an early settlement.
Topic:
Foreign Policy, Economics, and Territorial Disputes
Political Geography:
Central Asia and Turkey

68. EU's Rejection of Turkey: The Real Underlying Reason

Author:
Yalım Eralp
Publication Date:
04-2011
Content Type:
Policy Brief
Institution:
Global Political Trends Center
Abstract:
There are many negative elements in EU-Turkey relations. Some consider the difference in religion as the primary factor. The issue is deeper than that. It is cultural contradiction. When Europe says cultural diversity is richness, it tends to mean cultural integration.
Topic:
Conflict Resolution, Regional Cooperation, Religion, and Culture
Political Geography:
Europe and Turkey

69. The Political Feasibility of the Istanbul Canal Project

Author:
Mensur Akgün and Sylvia Tiryaki
Publication Date:
08-2011
Content Type:
Policy Brief
Institution:
Global Political Trends Center
Abstract:
Popularly referred to as the “crazy” project, Turkish Prime Minister Recep Tayyip Erdoğan's Istanbul Canal Project has been debated vigorously since its proposal prior to the 2011 elections in the country. While some questioned its economic and ecological feasibility, others carried the discussion towards the Project's political implications. In addition to evaluating these debates, in this policy brief we discuss the Project through a historical perspective that includes the dynamics of the 1936 Montreux Convention. We argue that the feasibility of the Canal Project is valid only after certain changes are made in the application of the Montreux Convention. However, we conclude that this may lead to an outcome in which the signatories would question the legitimacy of the Convention under present conditions.
Topic:
Economics and Infrastructure
Political Geography:
Central Asia and Turkey

70. Turkey's 2000/1 Banking Crisis: A Case Study for the Transformation of the Greek Finance?

Author:
Onur Bayramoğlu
Publication Date:
08-2011
Content Type:
Policy Brief
Institution:
Global Political Trends Center
Abstract:
On April 2010, recently after the eruption of the Greek crisis, an unexpected hand from Turkey reached to Greece. Proud with his country's last decade growth figures, Turkey's then Vice Prime Minister, Ali Babacan, paid a visit to Greece in order to share his country's reform period after its 2000/1 crisis, arguing that it could also be a case study for Greece. In this brief, I analyzed Greek and Turkish financial crises. Although it is a mere fact that the structural problems in Greek economy complicate the reform period in Greece, there are certain lessons that Greeks can learn from the Turkish experience. As Turks did after 2001, they should see the crisis as an opportunity to overcome the long time problems . In this regard, Greeks first and foremost should establish consensus among themselves, signaling to the markets that they are ready to face the burdens of the reform period.
Topic:
Debt, Economics, International Political Economy, and Financial Crisis
Political Geography:
Europe, Central Asia, Turkey, and Greece