Earthquakes and elections
Greece and Turkey are supposed to be holding elections in late spring. There is now speculation of Turkey’s being postponed, while experts say Greece will almost certainly face a double election.
An earthquake helped raise Erdogan to power. Will an earthquake bring him down?
Turkey’s twin earthquakes on February 6 are an economic and political turning point. They are deemed to be Turkey’s worst in terms of death and damage in at least a century. Well over 20,000 people have been killed under buildings that collapsed like stacks of pancakes. At least a million survivors are homeless. The death toll could rise by tens of thousands as missing people are tallied and survivors remain exposed to the elements.
The area immediately affected by the earthquake generates about 10% of the economy. That could be enough to put Turkey into recession this year, perhaps longer. The Turkish lira, already suffering from 57% inflation, may well need propping up with IMF loans.
Hundreds of thousands of stricken buildings need to be torn down and rebuilt, says the country’s president, Recep Tayyip Erdogan. Entire cities may have to be abandoned because they are built on fault lines and their electric and plumbing infrastructure is destroyed. A massive reconstruction programme at state expense is probably needed.
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