{"id":43927,"date":"2011-09-17T09:03:13","date_gmt":"2011-09-17T06:03:13","guid":{"rendered":"http:\/\/www.turkishforum.com.tr\/en\/content\/?p=43927"},"modified":"2016-12-28T16:07:57","modified_gmt":"2016-12-28T13:07:57","slug":"turkey-is-no-economic-powerhouse","status":"publish","type":"post","link":"https:\/\/www.turkishnews.com\/en\/content\/2011\/09\/17\/turkey-is-no-economic-powerhouse\/","title":{"rendered":"Turkey Is No Economic Powerhouse"},"content":{"rendered":"<p>Turkey is not an economic power, but rather a state whose credit bubble will be exploding any moment and bringing down its economy. The budget deficit of the collapsing Greece compared to its GDP stands at some 10%. At the same time, Turkey\u2019s deficit is at 9.5%. (Israel\u2019s deficit stands at 3% and is expected to decline to 2% this year.)<\/p>\n<p>While Turkey\u2019s economy grew by 10% this year, this was the result of financial manipulation. The banks in Erdogan\u2019s Turkey handed out loans and mortgages to any seeker in recent years, offering very low interest rates. Turkey\u2019s Central Bank financed this credit party via loans from overseas. Turkey\u2019s external debt doubled in the past 18 months, which were election campaign months. Erdogan\u2019s regime was re-elected not because of Islamic sentiments, but rather because he handed out low-interest loans to everyone. Now the date for returning the loans is approaching.<\/p>\n<p>With a weak currency and with a stock exchange that lost some 40% of its value in dollars in the last six months, Erdogan wants to be the Middle East\u2019s ruler?<\/p>\n<p>(Guy Bechor &#8211; Ynet News)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Turkey is not an economic power, but rather a state whose credit bubble will be exploding any moment and bringing down its economy. The budget deficit of the collapsing Greece compared to its GDP stands at some 10%. At the same time, Turkey\u2019s deficit is at 9.5%. (Israel\u2019s deficit stands at 3% and is expected [&hellip;]<\/p>\n","protected":false},"author":83,"featured_media":68792,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[846],"tags":[],"class_list":["post-43927","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/posts\/43927","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/users\/83"}],"replies":[{"embeddable":true,"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/comments?post=43927"}],"version-history":[{"count":0,"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/posts\/43927\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/media\/68792"}],"wp:attachment":[{"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/media?parent=43927"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/categories?post=43927"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/tags?post=43927"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}