Numerous reports, analyzes and comments today in the German press about the severe economic and monetary crisis that has been affecting Turkey for a long time, with the pound falling and inflation soaring, recording a 20-year record yesterday, according to Turkish Statistics Service.
The Munich-based Süddeutsche Zeitung comments on “What Erdogan fears”: “A government with an annual inflation rate of 36% should be wondering what is wrong. Otherwise, and this is even more dangerous for those in power, this question will soon be asked and perhaps more loudly by the citizens of the country. Because the ministers, the Turkish authorities, the institutions do only what the Turkish President Recep Tayyip Erdogan demands in every detail, they themselves will turn against the head of state himself – silently or possibly loudly in the streets. “And maybe then things could become difficult for the long-term leader of Ankara.” Elsewhere, the commentary points to a reference to the past: “The last time inflation in Turkey was so high was in 2002. Experts are already predicting that inflation will reach 40% in the spring. This should worry Erdogan far more than his criticism of repressive policies: In 2002, currency devaluation, along with rampant corruption and other signs of decay, cost the then secular government power – and led to Erdogan’s rise. . The current president is fighting inflation with all his might. “Unfortunately with the wrong means.”
“With your back to the wall”
The Frankfurter Allgemeine Zeitung also commented on the management of the crisis in Turkey and the ominous political future of the Turkish president, noting: lies with his back to the wall. Erdogan is fighting to win the declining vote of confidence by calling for national pride and literally begging investors to dig up gold and foreign exchange reserves and trade them for pounds. In addition, it makes new promises – but probably expensive for households – wanting to protect investors from foreign exchange losses. “In the end, he tries to prevent a serious loss: the presidency for himself.”
German wave
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