“What self-interests is Erdogan serving in his visit to Ukraine?” is the question that the station’s correspondent in Istanbul is asked to answer in the ZDF news bulletin
“Erdogan, the peacemaker?” is her title Süddeutsche Zeitung, with a very “loud” question mark. The Munich newspaper estimates that, regardless of Erdoğan’s manipulations, Russia and Ukraine do not seem ready to start peace talks yet: “Both warring parties believe they can militarily subdue the opponent or at least gain territory on the battlefield. Putin, who launched the attack, is particularly keen to make a show of success, since he has sacrificed so many soldiers and war materiel while his country suffers under Western sanctions. But Zelensky also wants to fulfill his duty. He has demanded enormous sacrifices from his people and could hardly allow territorial concessions to Russia without jeopardizing his political status».
For the same issue the newspaper Die Welt states: “EFor months, Erdogan has been projecting himself as a peacemaker, at least when it comes to Ukraine. Already after the first Russian invasion in 2014, the authoritarian politician appeared as an advocate for the Crimean Tatars, a Turkic ethnic group that is today a large minority within Turkey. Erdogan may not have recognized the annexation of Crimea, but he did not participate in Western sanctions against Russia. Last fall, when Russia began massing troops on the Ukrainian border, he offered to mediate between Moscow and Kyiv. It seemed as if he overestimated his capabilities. At that time, at least abroad, no one considered a war possible. But once the invasion began, Erdogan really got into the game as a mediator».
Bankruptcy risk for Turkey
“Erdogan, the winner of the war» is the title of the financial inspection Handelsblatt, which, in a different approach, notes that Turkish exports to Russia have increased significantly. As he points out: “Companies such as Mastercard, Visa, Louis Vuitton, Nivea, McDonalds, Ikea, Volkswagen, Google and Amazon have suspended their operations or left the country since the start of the war. In contrast, Turkey has not been sanctioned and is benefiting financially to a great extent. Between May and July, Turkish exports to the country increased by 46% compared to last year, in July alone the increase reached 75%. The share of Turkish exports to Russia has halved, now reaching 3.9% and will soon be comparable to that of (Turkish) exports to Italy or Iraq».
In another analysis, however, the economic review Handelsblatt points out that the latest rate hikes by the US Central Bank (Fed) intensify the risk of default for emerging economies such as Turkey, but also Pakistan, Egypt and Argentina, as they give incentives to foreign capital to leave these countries. Specifically, for Turkey we read: “Turkey has been showing weaknesses for years, so far it has managed to prevent a major crisis, but the warning signs are increasing. On Friday, Moody’s downgraded the country’s credit rating, which is already at ‘junk’, citing a larger-than-expected trade deficit. Ultimately this means that Turkey needs even more external funding. In July, inflation rose to 79.6%. Producer prices, which are passed on to the consumer with a time delay, actually increased by 144%».
Erdogan’s own interest
“What self-interest is Erdogan serving in his visit to Ukraine?” is the question he is asked to answer in his news bulletin ZDF the correspondent of the station in Istanbul, Jörg Braze. “Above all, Erdogan wants to establish his country as a regional power and above all as a necessary mediator in this confrontation“, says the German journalist. “In this capacity he can continue trade with Ukraine and Russia, earning money, which Turkey urgently needs. In addition, it could make claims to support its own military operations, for example on the Turkey-Syria border».
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