May 21, 2018
The EU summit held in Brussels on December 17, 2004 decided that accession negotiations with Turkey would start on October 3, 2005. The process was accordingly launched at the Luxembourg Intergovernmental Conference. This was three years after the Justice and Development Party (JDP) had come to power when “democratic reform” was high on Turkey’s agenda. Our relations with allies were strong. Our relations with Russia were mutually rewarding and steady. Our relations with neighbors were characterized by a determination to open new avenues of cooperation reflecting shared interests.
At midnight on January 1st, 2005 Turkey knocked six zeros off the lira. The BBC reported that the change marked the end of dizzyingly-high denominations as five million lira – enough for a short taxi ride – and the 20m note, worth $15. “The new lira is the symbol of the stable economy that we dreamed of for long years” said Sureyya Serdengecti, then Governor of the Turkish Central Bank. At the time a dollar was worth 1.34 lira.
In early April 2009 President Obama visited Turkey. He addressed the Turkish Parliament and referred to Turkey’s strong, vibrant, secular democracy as Ataturk’s greatest legacy. Regional countries were looking at Turkey with envy.
In brief, we were riding a wave of optimism. Continue reading
