March 03, 2003

Turkish markets plunge after war vote

Turkey's currency and leading stock market index have both fallen heavily after parliament failed to approve US troop deployment in the country for a war on Iraq.
[...]
By rejecting the US request, Turkey is unlikely to secure loans and aid from the US, estimated at $30bn, to offset the economic impact of a war in neighbouring Iraq.

It could also threaten a $16bn loan from the International Monetary Fund (IMF), in which the US is the largest shareholder.

Well, Turkey you have your pride, don't you?
And you haven't betrayed your Islamist brother-in-arms Saddam....for whatever that's worth.
As for a vote for secular democracy in the region, who knows?
You won't have a better friend and ally in the world than the U.S.A., but you already know that.