Turkey has been suspended on the brink since February 22 when the
government floated the lira and ended the 14-month stabilization
programme supported by the IMF. The new programme has not been
finalized and until it is Turkey will drift in semi-darkness.
The February crisis is unique in that it has hurt all segments of
society - from the army to the well-heeled - and deprived the
government of virtually all support. Even normally complacent
organizations such as TUSIAD, the association of Turkish
industrialists and businessmen, which is normally low key in its
criticism of the government, and the chambers and bourses
association of Turkey (TOBB) are clamouring for political reform.
Turkey's allies and international banks have also raised their
voices in its favour.
It seems to be universally understood that there can be no advance
with the present political system, which is characterized by
inefficiency and corruption.
Economic change cannot...
