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NOTHING IS PERMANENT EXCEPT CHANGE

The reason Turkey’s economic collapse is so scary is because Iran, Russia, and Syria are waiting in the wings

  • Lots of things are going wrong in Turkey, all at once, driven by the collapse of its currency, the lira.
  • The West needs Turkey to be strong: Turkey is a physical buffer between Europe and the war in Syria.
  • US sanctions have annoyed Turkish president Erdoğan, who says he is now in search of "new friends."
  • The worst-case scenario? Potential "new friends" include Iran, Syria, and Russia — Turkey's neighbours, who also suffer from US sanctions.

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