Not Cenk, I mean Erdogan is missing a golden opportunity. Turkey’s economy is hurting they are playing down inflation with currency defense actions / interest rate hikes. The problem is Erdogan has hand cuffed his central bank and this constriction alone could cause his economy to fail.
What Erdogan doesn’t get about the markets is that they are just as much based on perception as reality. This means that Erdogan is doing exactly the correct move to head into a dreaded stagflation condition. This is due to running off investment, handcuffing those who would work to prevent this crisis in perception with restrictions to their tool kit. That alone wouldn’t cause this to happen but the natural growth that could pull your way out may not occur. This growth is jeopardized by the potential regional conflict that seems like it may continue.
Erdogan and Lula da Silva could hold talks with Qatar, US, and Israel. If done with good faith these talks would show investors that you care about stability in markets. If these talks were fruitful you would likely see a boon to your reputation and that of Turkey. If the talks fail you’re able to claim a high ground that you attempted to bridge the gap between east and west.
The down side seems to be very little, just stop insulting Bibi and make nice. This is a path forward that could make Erdogan a hero please do not snatch defeat from the jaws of victory. This would save Turkey from a failed economy and Erdogan viewed with greatness that he clearly desires.