Financial crisis

In Greece we usually deal with crises first by underestimating the danger then by leaving those in the center of the storm to fend for themselves; when the problem becomes too great, we are at a loss, we wait for a solution from above.

The International Monetary Fund has revised its assessment on economic growth in Bulgaria to 3% of GDP from an initially forecast 2.3% shrinkage, stated the head of the regular mission of the fund to Bulgaria Reza Baqir at a meeting with PM Borissov.

A fresh report by TÜS?AD, a leadaing business group, points at current risks of the economy, which are not highlighted in many official reportsThe Turkish Industry and Business Association (TÜS?AD) has been the leading interlocutor of global economic players, although the association has lost some power during the Justice and Development Party (AKP) term. TÜS?AD is less powerful vis-à-vis gover

Turkish Fiba Holding's Credit Europe Bank is exiting the Russian market, according to daily Kommersant, at a time when economic relations between the two countries continue to deteriorate in the wake of the jet-downing crisis in November 2015. 

Christopher Dembik, Economist of Saxo Bank, claims that a new crisis is coming and explains it in four points:

• Shortening economic cycle means more frequent crises
• ‘Great Divergence’ model saw China assuming the US’ leadership role
• We have likely reached the limits of adjusting monetary policy
• States have compromised a return to growth due to debt

Leading economist Daron Acemo?lu said in an interview with Turkish daily Cumhuriyet that Turkey?s economic problems still come from inside, adding high liquidity in global markets helped Turkey overcome the 2001 and 2008 economic crises but the situation has now changed. 

The chairman of Turkey's main stock exchange, Borsa Istanbul, said the term "Islamic finance" should be changed to "Finance of Islam," as the income inequality problem could be solved through an interest-free Islamic finance model. 

You know how it is with buses? You wait ages for one, far longer than seems reasonable - and then three arrive all at once. Financial crises are a bit like that too.
   

Bad news on the Turkish economy keeps coming, one after the other.

While everything in the global financial system is working against us, the political crisis and the terrorism incidents fuelled by that crisis have tremendously increased economic uncertainty.

Existing conditions will not end with an economic crisis as ?Turkey is a strong country,? Economy Minister Nihat Zeybekci vowed on Aug. 21. 

?Turkey is a strong and great country. Some people claim that an economic crisis may break out ? But there will be no crisis. For God?s sake, take my word for it,? Zeybekci said.