Category: EU Members

European Council decided to open accession negotiations with Turkey on 17 Dec. 2004

  • Lots of blame to go around for ‘losing’ Turkey

    Lots of blame to go around for ‘losing’ Turkey

    Wednesday, Feb. 25, 2009

    By DOMINIQUE MOISI

    Dominique Moisi is a visiting professor at Harvard University and the
    author of “The Geopolitics of Emotions.” © 2009 Project Syndicate

    CAMBRIDGE, Mass.  “Who lost Turkey?” That question, often raised in
    the past, has been heating up in the aftermath of Prime Minister Recep
    Tayyip Erdogan’s emotional outburst during the recent World Economic
    Forum 2009 in Davos, when he abruptly left a panel he was sharing with
    Israeli President Shimon Peres.

    And the Turkish question matters greatly, because it touches on some
    of the most unstable and unsettling of the world’s diplomatic disputes.

    If Turkey has indeed been “lost,” those responsible include the
    European Union, the United States, Israel and Turkey itself. The EU’s
    growing reservations about Turkey’s membership have been expressed
    unambiguously by French President Nicolas Sarkozy. In the U.S., former
    President George W. Bush gets some of the blame because of the war in
    Iraq. Israel, too, has played its part in Turkey’s alienation from the
    West, as a result of the Lebanon war of 2006 and its recent military
    operations in Gaza.

    All of these events have disturbed and disoriented Turkey, and are
    magnified by the domestic impact of worst global economic crisis since
    the 1930s.

    Of course, Turkey’s secular, pro-Western elites may still consider the
    EU and the U.S. important, if not indispensable, allies and partners,
    and they may consider Islamic fundamentalism, Hamas, Hezbollah and
    Iran real or at least potential threats. Yet they are also convinced
    that Europe has behaved improperly toward Turkey, through a
    combination of short-term populist reflexes and the absence of a
    long-term strategic vision.

    The Turkish question is, of course, complex. Turkey’s geography is
    predominantly Asian, Turkey’s emotions are increasingly Middle
    Eastern, i.e., Muslim on the Israeli-Palestinian conflict, and yet
    Turkey’s elites remain resolutely pro-Western and pro-European. But
    for how long?

    At the beginning of the 21st century, when dialogue with the Islamic
    world is one of the Western world’s key challenges, Europe would
    commit a historic strategic blunder if it were to close its doors to
    Turkey. To do so would push back the inheritors of the Ottoman Empire
    back onto an Asian, Muslim and Middle Eastern historical trajectory.

    In the question of Turkish accession to the EU, the journey matters
    more than the destination. The reforms that Turkey has already
    implemented in a very short period of time, thanks to its EU candidate
    status, are impressive. Should we in Europe really put at risk that
    progress by expressing an all-too-audible “no”?

    The EU desperately needs a strategic and diplomatic partner that can
    significantly reinforce its clout in the Middle East. Europe also
    needs the dynamism of a youthful Turkey. Above all, it needs the
    message of reconciliation sent to Islam that Turkey’s entrance into
    the union would represent.

    Of course, to want Turkey “in” is an act of will, if not an act of
    faith that is in many ways counterintuitive. Most Europeans do not
    perceive Turkey as a “European Other” but as a “non-European Other.”
    Even in Istanbul, the most Westernized of Turkish cities, as soon as
    one leaves the main arteries, one seems to be immersed in a Middle
    Eastern or Asian culture.

    Israel is not in the European Union, but it, too, is in great danger
    of losing Turkey. Far from reinforcing Israel’s security, its last two
    military adventures, in Lebanon and now in Gaza, have caused further
    self-isolation and loss of world sympathy. Nowhere has this phenomenon
    been stronger than in Turkey, where those military escapades have
    strained the two countries’ strategic alliance almost to the breaking
    point.

    It is too early to speak of Obama’s policy toward Turkey; suffice it
    to say that in his willingness to open a respectful dialogue with
    Islam, he is the only Western leader to move in the right direction.
    But can positive American gestures toward Turkey, a key NATO member,
    be sufficient to offset Israel’s insensitive, if not reckless,
    policies? The answer is unclear.

    Turkey, too shares some of the responsibility for this mounting
    process of estrangement. Erdogan’s behavior in Davos was, at the very
    least, irresponsible. He may have gained popularity back home, but in
    today’s difficult economic times, the temptations of cheap populism
    are more dangerous than ever. One does not play lightly with matches
    next to a pile of dry wood.

  • Solving the EU-Turkey-Cyprus Triangle

    Solving the EU-Turkey-Cyprus Triangle

    Istanbul/Brussels, 23 February 2009: The International Crisis is pleased to announce the launch of a new frequently updated webpage covering the nexus of issues surrounding Cyprus, Turkey and the European Union: “Solving the EU-Turkey-Cyprus Triangle” .

    This is a critical year for Cyprus as efforts to resolve the long conflict gather steam, and for Turkey as frustration with EU enlargement fatigue weighs heavy on its chances of approaching membership. With Cyprus a member state of the EU and troops from NATO-member Turkey still in the northern half of the island, the inter-relationships are many.

    Will Turkey’s efforts to join the Union be formally blocked if it does not normalise its relations with Cyprus by autumn? Will other EU member states that have a negative stance towards Turkey’s membership continue to argue that Turkey has no place in the Union? Will such moves turn Turkey away from the EU, stifle ongoing reform and push Ankara towards other allies? Will the EU’s need to diversify energy sources and the Nabucco pipeline plans affect thinking in Brussels and member state capitals? And how will all these factors affect the search for a final peaceful settlement between Greek Cypriots and Turkish Cypriots, elusive for so many decades?

    “Solving the EU-Turkey-Cyprus Triangle” , the new Crisis Group webpage, is an effort to continually revisit these questions and others with frequently updated analysis and commentary following the situation as it unfolds. The point is not to respond to every new diplomatic twist and turn, but to make a reasoned and considered assessment of events and offer recommendations to the key actors with greater immediacy than can be done with a longer report.

    Part of the reasoning behind this new webpage comes from the results of the online survey Crisis Group conducted a few weeks ago. Through that poll, we learned that 74% of our subscribers find our themed pages on specific conflicts useful — our most popular website feature. More than half of the over 11,500 survey respondents said they would like Crisis Group to produce more frequently updated analysis and commentary on our website. Almost as many said they wanted more information from the field.

    This new webpage will meet these expectations, with updates and new material once or twice a week from Crisis Group Europe Program Director Sabine Freizer in Brussels and Turkey/Cyprus Project Director Hugh Pope in Istanbul. With these frequent inputs into the public debate, we intend to play our part in the peaceful resolution of the Cyprus conflict in a way that can draw Turkey and the EU closer together.

  • Brzezinski reviews US policy towards Russia

    Brzezinski reviews US policy towards Russia

    Zbigniew Brzezinski, former US National Security Adviser under Jimmy Carter, claims that bringing the Ukraine closer to the West is the key to assuring the democratization of Russia.

    In an interview for the French paper Le Figaro said that the West must work to reopen relations with Russia and that Georgia and the Ukraine must be part of that dialogue.

    Western nations, including Poland and the United States, must rework their relations with Russia in order to `slowly limit Russia’s nostalgia for imperialism and renew disarmament negotiations.`

    Brzezinski told the paper that initiating a new dialogue with Russia cannot happen at the cost of limiting the aspirations of those countries seeking NATO membership – such as the Ukraine and Georgia – especially because the Ukraine, as a NATO member opens up a transformative path to democratize Russia.

    Source:  The Georgian Times, 02.19.2009



  • European Identity in a Multicultural Society

    European Identity in a Multicultural Society

    Food, drink, good company, and wise words …

    Dear Friends,

    Liberal Democrat Friends of Turkey is delighted to invite you to a pleasant evening with two excellent speakers; former Liberal Democrat Leader Charles Kennedy and Turkish Barrister Emma Edhem.

    As later this year the European elections we will be contested, we have chosen a European theme for the evening, “European Identity in a Multicultural Society”. People are sceptical of government, but in Scotland the Scottish identity was strong enough for people to vote for their own Parliament. Previously we saw ourselves as European and we voted in favour of joining the EU. But what do we think today? And what about the perceptions of ethnic minorities, many of whom think of themselves as British rather than English. And does that also include being European?

    Charles Kennedy is the former Liberal Democrat leader, president of the European Movement and Member of Parliament.

    Emma Edham is the president of the Turkish British Legal Society and Company Secretary of the Turkish British Chamber of Commerce and Industry.

    We are meeting at Shish (www.shish.com), one of our favourite restaurants conveniently located near Old Street tube in Central London.

    313-319 Old St, EC1V 9LE

    24 February 2009
    Time: 19:30 – 21:45

    The entry price of just £12 (£10 if on a low income) includes your food. Vegetarians will be well catered for.

    For further info contact: 07799142527, info@ldfot.org

    We have great speakers and this will be a great event. Confirm your place now, before it’s too late!

    To book a place please reply with the following information:

    First name:
    Last name:
    E-mail:
    Phone:
    Zip code:
    Comments:

    Join Liberal Democrat Friends of Turkey on Facebook at:

  • Friends of Turkey group founded in EP

    Friends of Turkey group founded in EP

    BRUSSELS – Members of the European Parliament from the Labor Party of Britain have established a Friends of Turkey group in parliament. Speaking at the reception held to welcome the new group, the chairman of Turkey’s main opposition Republican People’s Party, or CHP, Deniz Baykal said everyone should preserve optimism at a time when Turkey was also experiencing difficulties.

    “The Friends of Turkey Group will contribute to this optimism,” Baykal said.

    Source:  www.hurriyet.com.tr, February 13, 2009

  • Poor Richard’s Report

    Poor Richard’s Report

    Poor Richard’s Report
    Over 300,000 readers
    My Mission: God has uniquely designed me to seek, write, and speak the truth as I see it. Preservation of one’s wealth while continuing to provide needed income is my primary goal for these unsettled times. I have been given the desire to study and observe global money progressions and trends for the last 50 years. I evaluate possible future trends in order to provide positive concepts for you to form your own conclusions. The main purpose of this letter is to warn you of possible financial sinkholes.
    Good Bye Stocks – Hello Bonds

    We are leaving the golden era of free enterprise due to unmitigated greed and chicanery. We can easily adjust if we accept the true meaning of what awaits us. If we fight to retain our old dreams and fantasies we will see ourselves being spoon fed by fat socialist bureaucrats for the “common good”.
    In this letter I will present some facts for your perusal and then you can make up your own mind in regards to your financial decisions. Those willing to change their offensive strategy can become winners in life’s never ending battles.
    The result of these recent price disturbances (all the bubbles bursting) is the falling value of the property that has been borrowed against. The value of the property’s income also falls. We have come from extreme over indebtedness and now find ourselves in a hole – we should stop digging.
    This is a hard lesson that our grandparents learned in the 1930’s, but sadly has been forgotten as satanic greed took over our souls. We now find ourselves caught between a recession and a depression. I call it a MESSYSESSION.
    All the corporations whose bubbles have burst must work down their inventories; since many are in the financial sector this will take time. Individuals must use their earnings to pay down debts to save their homes instead of spending money on frivolous purchases. The Rule of 72 has the deck stacked against them, unless the Usury Law is resumed. The lack of the Usury Law is quicksand for our economic recovery.
    The working down of inventories alone can be deflationary, however, the Federal Reserve has been pumping money into our supply pipeline at super speed. When an entity goes bankrupt, those debts do not go back into circulation, they go to money heaven. This is why the Fed has to keep the supply pool full and why this action should keep us out of a depression.
    Having to pay down all this debt slows down our economy and hurts our suppliers worldwide. This is why we have a world wide Messysession.
    Corporations that have borrowed from the Government will have a hard time maintaining their common stock dividends because their first priority is bond interest. Their second priority is preferred dividends. What is left over will then be distributed to common stock holders or used for debt reduction. Debt reduction means job security.
    Sooner or later the US Government will have to go on a massive borrowing campaign. This could weaken the dollar and send interest rates soaring along with the price of Gold – for a while.
    Some recessions are “V” shaped, which means stocks fall down hard and come back up quickly. Stocks tumble, but recover because there are people looking across the valley. If the recovery is like an elongated “U” or “L” one needs binoculars to see across the valley to a recovery. This could cause price to earnings ratios to shrivel, since analyst’s earnings estimates will be suspect at best. The economy can take a year or two to recover based upon how responsible Congress is. It will be years before our economy fully recovers from all the bubble bursting. What we need is a cheap new energy invention.
    The only period, since 1872, where stocks substantially outperformed bonds on a prolonged basis was the 1950s to 1960s. This was a golden era for stocks and it has taken many abuses to wind down.
    These are some of the many issues that President Obama faces on the home front. Now we shall look at some of his international problems.
    Europe is changing. It used to be that France and Germany were the major players, with Great Britain looking on. The United States has encouraged the expansion of the European Community to diminish the power of the two largest countries. Poland is emerging as an economic power and if Turkey is admitted, as they should be, they will bring new found political clout for the first time since the demise of the Ottoman Empire 90 years ago. Their inclusion could bring stabilization to the chaotic Middle East situation. Turkey has freedom of religion, a vigorous economy (17th largest), and a solid government. Their influence is growing. They also have a strategic location to insure peace long term.
    Then, there is Russia, who can throw all kinds of money around, but when it comes to signing on the dotted line – they cannot be trusted. Turning off gas supplies in mid-winter and canceling major contracts with world-renowned companies are actions that are hard to forget. Obama has pledged to focus US military power on the war in Afghanistan. The bulk of supplies must come from the north. Russia does not want a ballistic missile defense system in central Europe. It wants a halt to NATO expansion and reduced American influence in the Caucus and central Asia. They also want a broad renegotiation on non-trivial treaties that are terrible for Russia in 2009. (Anyone want to be President?)
    We must come up with a way to renew confidence for the consumer. First and foremost is the renewal of our Usury laws that were dropped because disintermediation was wrecking the banking system in the 1970s. Creating lasting jobs will not happen by just building roads. These programs must be done so that they promote or improve future growth. It is difficult to do this on a national level because there are too many fingers in the pie. Programs done on a state level are easier to control. It is more realistic to meet regional needs.
    Lowering corporate taxes when a corporation moves into intercity areas would mean better roads, and businesses to support them. Raising taxes invites tax avoidance schemes that only benefit the issuer. It also removes money from the private sector. Today, pricing power has evaporated.
    There must be global reorganization of the securities laws, most importantly the Uptick rule. Countries that do not participate should be banned from trading within the member countries. Today hedge funds and institutions have spent millions of dollars on sophisticated trading programs. This makes for an uneven playing field and has driven the small investor to the sidelines, as witnessed by declining volume on the exchanges. The large institutional investor becomes the ultimate bag-holder at the bottom of markets when they have no one to sell to.
    If a country’s Gross Domestic Product (GDP) is declining that means the average on corporate earnings will be declining also. This means fewer companies will be showing an increase in earnings and therefore there will be fewer securities that have an investment grade value. Since there are already too many mutual funds and they all cannot buy the same stocks, that game is over. I would sell your mutual funds while you can if you are over 55 years old. If they get too many orders for liquidation they have the option of delivering stock of the same value to you. That is an easy way to get rid of their losers. If you are under 55 and own a balanced fund where the income can be reinvested on a periodic basis you are in the catbird seat. Lower prices will mean more shares and 10 to 15 years from now when the market recovers you could be a wealthy person. Other low income on non paying funds should be sold. It could be 20 to 25 years just to breakeven and that is only if it is a survivor.
    First quarter earnings are going to be a disaster. I suspect this is when many will throw in the towel and give up.
    Gold should be considered a hedge – possible short term.
    Here are some moneymaking ideas. A successful portfolio can be 20% equities 50% fixed income and 30% cash.
    By equities I mean income-producing securities yielding over 5%. There are a few out there that are “stupid” cheap versus dirt-cheap. Then there are preferred stocks, many of which are 85% tax-free. Many are selling below their call price. This means if a company wants to improve its balance sheet, they can do that by calling your preferred from you by paying the call price. If they fail to pay a preferred dividend it becomes cumulative. To resume payments they must make up the back dividends first. One that falls into this category is: AMERCO Pfd A (NYSE) 20 (2-6-09) pays $2.125 which yields 9.41%. gives you a tax free yield of 8%. If they call the stock at $25 you will have a $5 gain which amounts to a 25% gain. You won’t be able to have this return with common stocks over the next several years.
    Tax free bonds were good when income tax rates were 55%-92%. The low tax rates today are beaten by preferred stock’s rates, such as the one I mentioned above. You have a ready market and real value. What you see is what you get. There was an issue on Long Island that defaulted in the depression. A default like that today would wreck havoc in the entire sector. For safety reasons, please avoid tax-free bonds.
    Since the US has to borrow around a trillion dollars or more, Government bonds could be an instant loss. For now, I would avoid these also. That leaves us with corporate bonds. Many corporate bonds have a better balance sheet than the United States. Buying bonds in the five year range is the safest place to be. As the bond gets closer to maturity the price fluctuations are at a minimum and easily salable. You are better off buying an individual bond than a fund. The fund will charge a yearly management fee as well as anything else they can get away with. Also, some funds simply dump bonds into a portfolio and walk away. There was a case where a fund dumped their holdings of an issue right at the very bottom, only to have the bonds called a few months later. Please remember that corporate bond holders have first lien on a corporation’s asset.
    I suspect that in a few months you will see a stampede out of many mutual funds and a proliferation of all types of bond funds trying to cash in on the new trend. Keep it simple- buy your own.
    I know I have thrown many ideas your way in this letter and I apologize, but I feel the times warrant such thinking. I will be available, free of charge, to anyone who would want to discuss any of these ideas at the addresses below.
    CHEERIO!!!!
    Richard C De Graff 2/10/2009
    256 Ashford Road
    RER Eastford Ct 06242
    860-522-7171 Main Office
    800-821-6665 Watts
    860-315-7413 Home/Office
    rdegraff@coburnfinancial.com

    This report has been prepared from original sources and data which we believe reliable but we make no representation to its accuracy or completeness. Coburn & Meredith Inc. its subsidiaries and or officers may from time to time acquire, hold, sell a position discussed in this publications, and we may act as principal for our own account or as agent for both the buyer and seller.