AGL 40.30 Increased By ▲ 0.30 (0.75%)
AIRLINK 127.12 Increased By ▲ 0.08 (0.06%)
BOP 6.63 Decreased By ▼ -0.04 (-0.6%)
CNERGY 4.48 Decreased By ▼ -0.03 (-0.67%)
DCL 8.63 Increased By ▲ 0.08 (0.94%)
DFML 41.89 Increased By ▲ 0.45 (1.09%)
DGKC 87.80 Increased By ▲ 0.95 (1.09%)
FCCL 32.80 Increased By ▲ 0.52 (1.61%)
FFBL 64.87 Increased By ▲ 0.07 (0.11%)
FFL 10.25 No Change ▼ 0.00 (0%)
HUBC 109.86 Increased By ▲ 0.29 (0.26%)
HUMNL 14.87 Increased By ▲ 0.19 (1.29%)
KEL 5.13 Increased By ▲ 0.08 (1.58%)
KOSM 7.53 Increased By ▲ 0.07 (0.94%)
MLCF 41.85 Increased By ▲ 0.47 (1.14%)
NBP 59.51 Decreased By ▼ -0.90 (-1.49%)
OGDC 194.51 Increased By ▲ 4.41 (2.32%)
PAEL 28.22 Increased By ▲ 0.39 (1.4%)
PIBTL 7.80 Decreased By ▼ -0.03 (-0.38%)
PPL 152.40 Increased By ▲ 2.34 (1.56%)
PRL 26.55 Decreased By ▼ -0.33 (-1.23%)
PTC 16.15 Increased By ▲ 0.08 (0.5%)
SEARL 83.75 Decreased By ▼ -2.25 (-2.62%)
TELE 7.67 Decreased By ▼ -0.04 (-0.52%)
TOMCL 35.50 Increased By ▲ 0.09 (0.25%)
TPLP 8.17 Increased By ▲ 0.05 (0.62%)
TREET 16.18 Decreased By ▼ -0.23 (-1.4%)
TRG 53.00 Decreased By ▼ -0.29 (-0.54%)
UNITY 26.50 Increased By ▲ 0.34 (1.3%)
WTL 1.25 Decreased By ▼ -0.01 (-0.79%)
BR100 9,953 Increased By 69.1 (0.7%)
BR30 30,951 Increased By 351.4 (1.15%)
KSE100 93,901 Increased By 545.4 (0.58%)
KSE30 29,088 Increased By 157.5 (0.54%)

The arrest of senior Turkish officers over coup plot allegations further tests relations between the Islamist-rooted government and powerful military and complicates Ankara's efforts to tackle economic turmoil.
The "Ergenekon" coup plot investigation, which has already seen 86 people including retired army officers, politicians and lawyers put on trial, is viewed by many here as part of a battle for the soul of Muslim European Union candidate Turkey.
"If the prosecution continues as we have seen it we can have an extremely dangerous situation," Gareth Jenkins, an expert on Turkish security affairs based in Istanbul, said. "The military will not allow things to continue."
The detentions by police last week of more than 40 people, including three retired generals and nine active officers, for suspected links to a plot to overthrow the government, prompted the armed forces chief General Ilker Basbug to call crisis talks with Prime Minister Tayyip Erdogan.
Four more military officers were arrested on Saturday.
News of the Basbug-Erdogan meeting in a country where the military has unseated governments four times in the past 50 years sparked panic selling at the Istanbul Stock Exchange and a call for calm from the leading business association.
The secularist establishment, which includes the military, judges and the state bureaucracy, says the governing AK Party is carrying out the arrests as revenge for a 2008 court case that sought to ban the party for anti-secular activities. The AK Party, which embraces centre-right elements and nationalists as well as religious conservatives, denies this. It denies it has any hidden Islamist agenda and points to a record of liberal political reform that the EU feels has not gone far enough, but the conservative military views with some wariness.
Turkey can ill afford a fresh bout of instability, with tempers already high over the violence in Gaza and a run-up to municipal elections marked by accusations of government graft. It faces a once-booming economy now in sharp decline, and the need to adopt tough reforms in its bid to join the EU.
"Turkey could face a paralysis in government with the economy in a free fall," Jenkins said.
ECONOMIC SLOWDOWN:
After growing at an average rate of seven percent in the 2002-2007 period, the economy has slowed sharply. Turkey is seeking a loan agreement with the International Monetary Fund (IMF) to weather the effects of the global crisis and restore investor confidence.
Foreign direct investment in 2008 was estimated at $15 billion, down from a record $22 billion in 2007. Political paralysis could deter risk-averse investors, already worried about the impact of the global crisis in emerging markets. This year also will see Turkey making major reforms to prepare for eventual EU membership.
These include bringing further civilian control over the military, granting more rights for minorities and economic liberalisation, all painful moves opposed by an increasingly recalcitrant opposition. "2009 is going to be a decisive year for Turkey because there are many things in play, but the latest arrests have raised the stakes," Hugh Pope, a senior analyst from the International Crisis Group, said.
Eight-six people including retired army officers, politicians and lawyers, are already on trial for their links to the shadowy suspected coup-plotting group named Ergenekon that had been the subject of a long-running investigation. The detention of military officers has caused deep concern in Turkey's powerful military, which has enjoyed an untouchable status since the foundation of modern Turkey.
A European diplomat who follows military matters in Ankara said General Basbug is under pressure from the rank and file to stand up to a government regarded as hostile toward them.

Copyright Reuters, 2009

Comments

Comments are closed.