istanbul_fatih_i
Turkey
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The NewsWeek: Turkey on the EdgeTurkey, in the hot grip of the summer solstice, faces a hazy future. For a change, Turkey is suffering from an economic and financial crisis not of its own making. Its fiscal discipline and good behavior of recent years are going unrewarded as its economy contracts, its currency weakens, and its stock market gets ignored amid a historic emerging-market boom. It's a sad state of affairs for this country of 71 million people, with the 17th-largest economy in the world and immense potential. Unlike those in the European Union, Turkey's population and workforce are growing, and its people, banks, and public sector are not heavily in debt. Its banks are downright healthy compared with those in Europe, the United Kingdom, and the United States. Turkey matters be-cause it is a big, functioning, democratic Muslim state that could be an example to the rest of the Middle East, and could emerge as an anchor to the southern flank of the EU. Turkey has the biggest and arguably one of the toughest armies in Europe. From Gallipoli to Korea and Vietnam, the legend has grown: "Don't mess with the Turks."
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