Turkeys Turning Point: Extreme Islamic elements exerting overt influence in Turkey's politics is unlikely.

Like Brazils, Turkeys recent national election late give-up the ghost category initially spooked the markets as it was perceived that anti-Western elements could arrive at the reins of force play and stand out difficult negotiations aimed at solving a debt crisis. In both(prenominal) cases, rationality and practicality prevailed, and both markets soargond. In the case of Turkey, the Islamic AK Partis victory rattle investors as fears grew that Turkeys constitutionally secular articulate might make unglued from its long-held alliance with the West. The ability of the AK Parti to take and bind a suss out stance was refreshing, and the capacity of Western nations to tackle the political prod with grace and aplomb was exciting. Recently cogitate negotiations on Turkeys memory access into the European Union were actually just news. Barring a catastrophe, an entrance into the EU quondam(prenominal) after 2004 expects assured. Things also bearing promising for Turkey o n other fronts. The thorny discover of Turkeys occupation of Cyprus is looking more than soluble than ever. What is more strike is the enthusiastic support from Greece for Turkeys accession. As for the possibility of extreme Islamic elements exerting overt influence in Turkeys politics, it seems rather unlikely. There are pitfalls, but a perfect(a) cycle may be forming for the first time in a long while, express David Halpert, senior partner of Prince track Capital, an emerging markets hedge fund. Like Brazils, the syllabus for Turkeys economic form _or_ system of government is simple: Deal in good faith with the IMF, take the path of reform and feed the poor. The Turkish government is imperativeness for about $600 million in aesculapian care subsidies, a prickly issue with the austerity-obsessed IMF. Subsidies are the scathe of democratic dealmaking and alliance building.

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