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Turkish banks have been particularly attractive to outside investors. Citigroup last year bought a 20% stake in Akbank (for $3 billion). "The foreign appetite for Turkish companies and stocks is high," said Hakan Avci, director of asset management at the Istanbul office of Raymond James Securities, a U.S. company, before the recent political blowup. In the past 18 months, Lehman Bros., Morgan Stanley and Credit Suisse bought local brokerages in the country. Avci has since lowered his projections because of the political turmoil but says he is "optimistic that this crisis will be overcome and a solution found." The Turkish...

Author: /time Magazine | Title: Istanbul's Economic Tension | 5/1/2008 | See Source »

...polarization could ultimately be the most dangerous aspect of this debacle. Responding to calls by international organizations to take a step back, he bristled, and essentially said never. "The AKP say they want democracy and the European Union, but they don't have much to show for this," says Hakan Altinay, director of Istanbul's Open Society Institute. "In the next six months, the right thing to do would be to launch a hearts-and-minds campaign to win over society as a whole, to truly prove to everyone that they are democrats. That they are genuinely as much...

Author: /time Magazine | Title: A Face-off Over Turkish Democracy | 4/1/2008 | See Source »

...hear that his military is skeptical of entry into the European Union. Meanwhile, investors are spooked, leading Turkish unions are on strike over a proposed social security reform law, unemployment is over 10%, and the Kurdish conflict is brewing. "This is a struggle in the palace," says political scientist Hakan Yilmaz. "It has nothing to do with the people." But if Turkey's polarization increases further, it could have profound consequences both inside and outside Turkey...

Author: /time Magazine | Title: A Face-off Over Turkish Democracy | 4/1/2008 | See Source »

...they are true, it suggests there are two parallel universes in Turkey," says Hakan Altinay, director of the Open Society Institute, a think tank. "There are people who wake up every morning and plan murders of political opponents, plot coups and how to destabilize the country," he said...

Author: /time Magazine | Title: Turkey Busts Alleged Murder Network | 1/28/2008 | See Source »

...good job", Hakan Durkac, project manager at Muhabbet's record label Plak Music, afterwards commented on Steinmeier's performance. "He hit all the notes and shook his hips. He even took...

Author: /time Magazine | Title: Ministers Make Music and Play Politics | 11/14/2007 | See Source »

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