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Thursday, November 15, 2012

Erdoğan proposes a Lira-zone

From the Atlantic Sentinel:
Turkish prime minister Recep Tayyip Erdoğan urged the European Union on Tuesday to grant his nation membership by 2023 and suggested that it could set up a currency union of its own instead of joining the euro.
The talk of a currency union is surely more of a dig against an economically weakened EU than a serious proposal. Talking tough to the Union plays well in Turkey now, and a deadline is probably popular in a country that has been waiting for membership since 1959.

I suspect that this is domestic politics more than anything else. With local and Presidential elections coming up in 2014, expect more of it.

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