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Europe’s big eggs in Turkey’s economic basket

Economic concerns lie at the heart of Turkey’s moves to repair ties with European countries, which, in turn, are open to Ankara’s overtures due to the significant stakes they have in the ailing Turkish economy.
German Chancellor Angela Merkel and Turkish President Tayyip Erdogan address a news conference at the chancellery in Berlin, Germany, September 28, 2018. REUTERS/Fabrizio Bensch - RC1161597F70
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Turkey’s government has recently launched efforts to mend fences with the West. This comes after a period of unprecedented rapprochement with Russia and Iran, marked also by accusations that the United States was waging an “economic war” on Turkey. No doubt, this sudden change of heart has to do with the economic crisis bruising Turkey. Despite lingering political tensions, Germany and other EU countries have been open to Ankara’s courtship. This also has to do with economic concerns, as Europeans have a good deal of eggs in Turkey’s basket.

The messages that President Recep Tayyip Erdogan issued during his trip to New York and his ensuing visit to Berlin in late September were seen as confirmation that Ankara is readjusting its course, though few could say whether this will be a lasting shift.

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