Cosmo talks about the Jewish conspiracy

TURKEY - In Brief 02 Jul 2013 by Atilla Yesilada

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It is amazing how eager is the AKP government is to shoot itself in the foot. State Minister Besir Atalay suggested yesterday that the Gezi Parki is the work of Jewish Diaspora. As efforts to uncover the international conspiracy behind Gezi Parki accelerate, reports indicate that BRSA, Ergenekon prosecutors and even Turkey's money laundering prevention agency MASAK have joined the probe. The presence of a prosecutor indicates that wiretapping of suspected individuals is a strong possibility. Cosmo fears that the Turkish retail investors, traditionally very wary of any government snooping in their affairs may bail out of the market for while. Erdogan spoke to his caucus today, no sign that Kurdish reforms will be presented to the parliament before recess. Kurdish Actors have run out of patience, and PKK terror began creeping up, with an AKP deputy claiming that since the Peace Process began the terror organization recruited 2,200 new fighters.   BIST down, many local brokerages bring down their year-end target values.  Current range around 82K.  Bonds and currency wait for June CPI release. Some in the market now expect a print higher than the 0.1% MM consensus. CBT just reduced daily F/X sales to US$50 million, wise choice, but Cosmo will watch whether the Currency Basket shoots up.