FOR SOMEONE thought to be the second most powerful person in Turkey and a possible successor to President Recep Tayyip Erdogan, it was an unseemly exit. In a statement posted on Instagram on November 8th and riddled with grammatical mistakes Berat Albayrak, the president’s son-in-law, said he was resigning as finance minister and leaving politics. A few officials confirmed the news anonymously, but the government has not yet made any formal announcement.
Mr Albayrak’s management of the economy has been even worse than his grammar. The day after he took over as minister in 2018, the lira plummeted by 4% against the dollar. It continued to fall as Mr Albayrak and his father-in-law forced the banks to keep borrowing rates low. Under pressure from Mr Albayrak the central bank compensated by selling off its dollar reserves. Having depleted them , the bank threw in the towel earlier this summer.
There is hope in Turkey and elsewhere that the departures of Mr Albayrak and Mr Uysal may signal a return to more orthodox financial and monetary policy, which could shield the lira from further pressure and the fallout from the American elections. With Joe Biden on his way to the White House, America is more likely to slap Turkey with sanctions over its purchase of a Russian defence system, something President Donald Trump was reluctant to do.
Mr Albayrak was not only finance minister but viewed by many observers as Mr Erdogan’s possible successor as leader of the ruling Justice and Development party. He had the president’s ear, a power base within AK, and his own propaganda machine. He and another influential , Jared Kushner, had established a key back-channel between Mr Erdogan and Mr Trump. Mr Albayrak could also count on the support of his elder brother, Serhat Albayrak, who runs several pro-government TV channels and newspapers.
Your obsession with Turkey reminds, the obsession of a prostitute with the man, who didn't pay for her 'work')) What is your 'problem' with Turkey, ?
You would think that in 2020 a genocidal leader such as Erdogan would've been removed from office immediately
He should have gone with Jared