The New Normal in Turkish Politics
Economists are fond of using the term new normal to depict the changing perception of normalcy in domestic and international markets following a major crisis, or turning point that radically alters the fundamental parameters of the system.
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Prudence versus Populism
In modern democratic politics, one of the most effective instruments of attracting electoral support is extending pledges for better macroeconomic governance and improvement of social welfare.
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The nuclear deal was a huge step for Iran in normalizing its relationships with the West and can potentially be a game changer in the Middle East. But it will also be a source of tension in U.S.-Israel relations in the future.
Given Turkey's desire to be seen as an emerging power in the global political economic system there is an urgent need to revamp the governance network in a way that gives a greater priority to growth and development dynamics without jeopardizing financial/macroeconomic stability.
The Syrian crisis has created a new cold war environment that calls on countries to take sides. This new environment has given rise to a state of "inaction" which has worked well for the Assad regime.
