Ankara, one of the most geopolitically significant players in the Middle East, is determined to take a neutral path on the Saudi-Iranian conflict, yet still, in the near future, a strategic alliance between Ankara and Riyadh rather than Tehran, seems more likely.

American administration does not want a serious role in Iraq anymore, at least not under Obama's leadership. The next president should volunteer to make serious political investments and be a sponsor for the political rapprochement in Iraq. Without a rapprochement in Iraq and Syria, the chaos will continue and ISIS will make use of it to last longer.

The G20 has to focus on finding solutions for the current financial problems, on increasing income equality and youth unemployment in the world.

Since 1960, nineteen Standby arrangements have been signed. With these agreements, significant progress has been made in Turkish economy: inflation has fallen to the lowest level since 1986, the public debt-to-GNP ratio has been falling, and interest rates have declined rapidly. IMF’s immediate goals concern exchange rate stability and balance of payments, and evaluations of IMF programs tend to concentrate on these two objectives. Yet, whether or not the IMF programs have positive effects on these short-term goals, what ultimately matters is that they induce economic growth and do not concentrate on incomes.

That Turkey has not signed a new stand-by agreement with the IMF does not necessarily mean that Turkey – IMF relations have come to an end.

One of the most severe pains of the 21st century will be the dissolution of the status quo in the Middle East which presented a luxurious world of geopolitics to the West and to those who kept guard of the regional order on behalf of the West throughout the 20th century.

Although the 19th century was the European century and the 20th century was the American century, it is forecasted that the 21st century will transform into a more global century led by Asia.

Now as the prime minister, Davutoğlu will show his integrationist and internationalist character by placing a premium on macroeconomic stability and expansion of external economic links to stimulate exports and growth.

Whatever the rating decisions on Turkey, it is essential that, as the next president of the G-20, Turkey brings the issue of the objectivity of rating agencies onto the global agenda.

Turkey's policy entrepreneurship within the G-20 has been weaker compared to similar middle powers, but holding the rotating presidency presents a golden opportunity to upgrade its activism in economic diplomacy platforms.

Turkey could be very active in pushing for a better deal from the IMF and the World Trade Organization (WTO) for developing countries in the context of crisis prevention strategies and the advancement of the Doha Development Agenda.

This analysis tries to evaluate the effectiveness of the G20 on changing the global financial landscape.

The austerity program imposed on Greece as a solution to its deep economic crisis has transformed into a threat to the entire eurozone.