Morning Jolt: Crises in Turkey and the Labour Party

In one week, the Turkish lira has fallen by more than 20 percent against the U.S. dollar, and yields on Turkey's sovereign debt have skyrocketed as investors demand greater compensation for the risk of holding Turkish bonds. Turkey is quickly approaching an outright financial crisis.

The trouble worsened, but did not start, in late July, when relations between the U.S. and Turkey soured over Turkey's detention of Andrew Brunson, an American pastor, on terrorism charges. (American observers agree the charges are baseless.) Diplomatic talks between American and Turkish officials failed to resolve the situation. Turkey began demanding that the U.S. extradite Fethullah Gulen, the leader of an eponymous dissident movement who currently resides in Pennsylvania, in exchange for Brunson. Recep Tayyip Erdogan, Turkey's president, insists that Gulen is responsible for fomenting the failed 2016 military coup against the government, but Gulen is a longtime adversary of his and Erdogan has not produced compelling evidence to justify his assertion. So the U.S. abandoned its pursuit of a diplomatic solution and turned to economic measures to raise the pressure. "Relations with Turkey ...

August 14 2018

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Crises in Turkey and the Labour Party Theodore Kupfer In one week, the Turkish lira has fallen by more than 20 percent against the U.S. dollar, and yields on Turkey's sovereign debt have skyrocketed as investors demand greater compensation for the risk of holding Turkish bonds. Turkey is quickly approaching an outright financial crisis. The trouble worsened, but did not start, in late July, when relations between the U.S. and Turkey soured over Turkey's detention of Andrew Brunson, an American pastor, on terrorism charges. (American observers agree the charges are baseless.) Diplomatic talks between American and Turkish officials failed to resolve the situation. Turkey began demanding that the U.S. extradite Fethullah Gulen, the leader of an eponymous dissident movement who currently resides in Pennsylvania, in exchange for Brunson. Recep Tayyip Erdogan, Turkey's president, insists that Gulen is responsible for fomenting the failed 2016 military coup against the government, but Gulen is a longtime adversary of his and Erdogan has not produced compelling evidence to justify his assertion. So the U.S. abandoned its pursuit of a diplomatic solution and turned to economic measures to raise the pressure. "Relations with Turkey ... Read More ADVERTISEMENT Top Stories Three New Supreme Court Decisions Protect Free Speech on Campus Casey Mattox Several recent Supreme Court cases, while not directly concerned with campus free speech, may nonetheless reinforce it. The Turkish Hostage Crisis Rich Lowry Turkish hostage crisis: Erdogan's case against American pastor Andrew Brunson is ludicrous. Gallup: Democrats More Positive About Socialism Than Capitalism Mairead McArdle A minority of Democrats, 47 percent, view capitalism favorably, a drop from 56 percent in 2016, according to a recent Gallup poll. ADVERTISEMENT It's All about the Personnel David L. Bahnsen As we get closer to two years since the election, it can confidently be asserted that where things have gone well in the Trump administration, some very strong personnel decisions helped. Where things have gone wrong, personnel decisions were inevitably at the root of the problem. America's Two-Party System Is a Triumph of Democracy J. J. McCullough Nothing is stopping any American with some wonderfully esoteric philosophy from trying to win a major-party nomination. Al Sharpton and Corey Stewart: Two Race Hustlers Ben Shapiro Race hustlers Al Sharpton and Corey Stewart are good examples of what happens when identity politics on the left drives identity politics on the right. Ninth Circuit Returns to Form, Upholds Bizarre California Gun Regulation David French In a ruling earlier this month, the Ninth Circuit court of appeals returned to their old ways and upheld one of the most bizarre and nonsensical gun regulations in the nation. CNN Personalities Criticize Antifa Protester for Attacking NBC Reporter in Charlottesville Mairead McArdle Multiple CNN journalists have condemned the behavior of an antifa protester who berated an NBC reporter Sunday and attacked his camera. ADVERTISEMENT JOIN NRPLUS All Our Content. Fewer Ads. Members-Only Privileges. NRPLUS is everything you would associate with a digital magazine subscription, and a whole lot more ─ including up to 90% fewer on-site ads, access to our private Facebook group, full commenting privileges, and invites to our writer/editor conference calls. SAVE 40% TODAY Photo Essays Cartoons of the Day: August 14, 2018 Photoshop of the Day: August 13th-August 17th ADVERTISEMENT Follow Us & Share 19 West 44th Street, Suite 1701, New York, NY, 10036, USA Your Preferences | Unsubscribe | Privacy View this e-mail in your browser.