Good news turns out to be not as good as expected. However…

In Uncategorized on August 21, 2020 at 18:50

For three days, Turkish leadership promised the news of a miracle. But the news was partially leaked. It would be something about a natural gas discovery in the Black Sea. However, the leaked amount was too big, and when Erdoğan stated a smaller amount even some pro-AKP citizens were disappointed. Three takes from today’s media event:
1- Erdoğan’s leadership relies on miracles for economic recovery.
2- Erdoğan’s leadership cannot keep the suspense and create an effective media event. The event itself was not that as impactful as it was aimed. After a slight recovery in Stock exchanges and currency rates, the decline continued towards the end of the day.
3- Erdoğan’s speech implies that he will keep/protect his Minister of Finance and Treasury , Berat Albayrak, who happens to be his son-in-law and who happens to be quite an unsuccessful minister. One can be sure that Turkey’s ongoing economic decline will continue under this leadership…

Bloomberg – Selcan Hacaoglu – Aug 19, 7:36 AM

Turkey has made an energy discovery in the Black Sea, most likely natural gas, two people with direct knowledge of the matter said Wednesday. The two officials spoke after President Recep Tayyip Erdogan promised Turks “good news” on

Turkey’s Erdogan hails huge natural gas find

President Erdogan says a Turkish drilling ship has made a major gas discovery in the Black Sea.
President and ruling AKP Chair Recep Tayyip Erdoğan has announced his good news. He has said that Turkey’s drill ship Fatih has discovered 320 billion cubic meters of natural gas reserve in the Black Sea.
President Erdoğan is expected to announce the “good news” today.

The post Good news turns out to be not as good as expected. However… appeared first on Erkan's Field Diary.

Vía Erkan’s Field Diary

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