Turkey’s conflicting visions of the economy

Al-Monitor columnist Mustafa Akyol discusses the people and ideologies behind the ongoing interest rate dispute between Erdogan and Turkish Central Bank chief Erdem Basci. Akyol also analyzes possible reasons why Erdogan is insisting on interest rates cuts, even as the Turkish lira is rapidly losing value against the dollar. One possibility is that Erdogan is making a statement to his Islamist base that he condemns usury.


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