next event will be bankruptcy of Turkey and exit Erdogan
I'm waiting for Biden to announce that we'll now have " peace in our time".
Nobody ever learns anything.
Will Poland be the breaking point once again, or will the west let it go this time?
What makes you say that?
We are selling Poland 250 Abrams tanks.
It's been a month since Ukraine could be invaded at any moment by the Russians. I can only hope that the British intelligence agencies and CIA informants are not the same ones who said Iraq had an arsenal of chemical weapons that needed to be destroyed. Indeed, an American spokesman said the Russians could use chemical weapons to simulate a Ukrainian attack on civilians in the rebel east to justify the 'imminent' invasion. Saddam Hussein's alleged use of chemical weapons against the Kurds justified the invasion of Iraq. Good. Today we all know that these chemical weapons did not exist. Al Qaeda, Taliban, Islamic State, etc. are the direct heirs of the chaos created by the West and its bombs in much of the Middle East and uncontrolled immigration to Europe is a consequence of this chaos. The difference is that Putin is not Saddam and Russia is not Iraq. Unfortunately, Ukraine's innocent civilians are in the midst of yet another imbroglio created by the West represented by NATO and Russia represented by Vladimir Putin. There are only cynics on both sides. Good versus evil. No. It's evil versus evil.
Unlike Ukraine, Poland and the Baltic states are Nato members.
Erdogan sacked the president of the Turkish national bank.
48 % inflation.
Turkish bonds downgraded by Fitch to B.
It's been a month since Ukraine could be invaded at any moment by the Russians. I can only hope that the British intelligence agencies and CIA informants are not the same ones who said Iraq had an arsenal of chemical weapons that needed to be destroyed. Indeed, an American spokesman said the Russians could use chemical weapons to simulate a Ukrainian attack on civilians in the rebel east to justify the 'imminent' invasion. Saddam Hussein's alleged use of chemical weapons against the Kurds justified the invasion of Iraq. Good. Today we all know that these chemical weapons did not exist. Al Qaeda, Taliban, Islamic State, etc. are the direct heirs of the chaos created by the West and its bombs in much of the Middle East and uncontrolled immigration to Europe is a consequence of this chaos. The difference is that Putin is not Saddam and Russia is not Iraq. Unfortunately, Ukraine's innocent civilians are in the midst of yet another imbroglio created by the West represented by NATO and Russia represented by Vladimir Putin. There are only cynics on both sides. Good versus evil. No. It's evil versus evil.
Erdogan has been sacking everybody for a long time. Now runaway inflation and the downgrading of bonds might be danger signals but I don't think that Turkey is in danger of collapse. The government debt to GDP ratio is at 39% but the private debt problem is another.
39 % is not much, I was not aware of that
on the other hand, I know of some Turkish companies with lots of financial resources and with a good product that went bust in the 1990's because of runaway inflation at that time
history seems to repaet itself over and over in Turkey
I don't see any similarity between the invasion of Iraq and the situation in Ukraine.
Iraq was invaded when it was not oportune, because it was not possible to bring stability in that region and indeed Bush Jr was stupid enough to look for an excuse to intervene.
The same goes for Obama and Europe being so naïve to support the Arab spring.
Now there is a decision not to support Ukraine which is not ruled by a dictator and where Russia will put the lights out.
Yes, in both situations, politicians are cynical, but in a different way.
I think in politics only cynical people survive.
This is my grain of cynicism in this thread: Saving endangered democracies and debunking ruthless dictators and autocrats is one of the West's missions and no matter what the local human cost involved or if there will be anything left to rebuild. As think the military: Are acceptable losses in the name of a greater cause.
PS: What I wrote above is just a rant. As a lady from eastern Ukraine said to a Brazilian TV journalist who is there in Ukraine doing field reports: “Why do they want to invade us? We have nothing.” The lady in question lives in a wooden house, heated by firewood and without any of the comforts that modern life can offer. Can cynical politicians think of these simple people who will be the victims of their actions? I think not.
The Russian and Ukraine situation boils down to economics and Oil and Gas. Russia gets 40% of its Revenues from the Oil and Gas Industry. China, which imports 55%-60% of its oil supply starting in 2016 got most its Oil from Russia, more than the Saudi's. Russian Oil around 2016 started to become more important for Europe, the Netherlands and Germany today are Russia's 2nd and 3rd biggest export markets. Europe as a whole gets about 1/3 of its Oil from Russia. The NORD2 pipeline which began in 2018 is now almost complete is going to further link Russian Oil and Gas and Western Europe. So until the NORD2 pipeline is fully operational, Ukraine is in terms of Russia's land base supply chain, and important geographic region for it to supply its Oil on and ever more dependent Western Europe on said Russian Oil.
For all the push back on Trump, the USA was a net exporter of Oil and Gas for the first time generations and Trump wanted Europe to buy its Oil and gas from us and he in fact threatened sanctions on any country working with Russia with the NORD2, which for a while stopped construction. Biden, in a nod to major European G5 allies, changed Trump's policy and gave full go ahead. Republicans in the US Senate last year tried to override Biden's change in Trump's policy to no avail. Putin to me is using Ukraine for leverage. He gets his NORD pipeline to pump oil and gas into Europe, you Western Europeans become more dependent on tat NORD2 pipeline and Russian Oil and Gas and Putin's land based supply chain routes through Ukraine are no longer as important. US Economist have predicted a Russian invasion of Ukraine, Oil hits > $100 a barrel and inflation is > 10%. This is Jimmy Carter era 2.0 with the Iranian crisis in 1979 sending Oil prices through the roof and inflation here in the USA having 2 consecutive years of double digit rates (79-80).
Ukraine will suffer regardless, once the NORD2 is fully operational, those jobs in the Oil and Gas supply chain in Ukraine will go away and the NORD2 will be the major supply of Russian Oil to Europe. So Russians on the starting end and Germans on the receiving end will benefit, jobs for workers and Russia will be able to increase its supply of Oil and Gas to Western Europe and they in turn will be more dependent on Russia.