Just as glimmers of hope were starting to emerge that Turkey may finally crawl its way out of the deep hole it dug for itself last summer... and Erdogan happens. * * * The world sure can be an ironic place: just one week after the Bank of International Settlements highlighted Turkey as the case study of all the bad things and political costs resulting from political meddling and intervention in a central bank's affairs, when BIS General Manager Agustin Carstens said "you see the government undermining the autonomy of the central bank and at the same time you see the negative consequences,” adding that looking at ... (full story)