TURKEY: A Long, Hard Winter of Discontent

Draconian new fiscal measures, but will they really help?

When Premier Suleyman Demirel took office in November, he warned his countrymen to brace themselves for a long, hard winter. Last week Turkey was quite literally shivering through one of the worst cold spells in 30 years. Largely because of a lack of foreign exchange, the country had virtually run out of fuel oil, and thousands of homes and offices were without heat. As if that were not suffering enough, Demirel chose the moment to introduce draconian new fiscal measures, which one Western diplomat in Ankara called "the most significant economic...

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