June 2015 The Bulletin Vol. 6 Ed.6 Official monetary and financial institutions ● Asset management ● Global money and credit Turkey turns A president thwarted Korkmaz Ilkorur on Turkey’s potential Willem Middelkoop on waning US influence Vicky Pryce on the Greek debt saga Kevin Rudd on US-China common ground Michael Stürmer on revanchist Russia David Tonge on Turkish reforms Contents Turkey turns Turkey Turkey’s election on 7 June, in which voters rejected proposals Turkey seeking to unleash potential Korkmaz Ilkorur 8 for a wide-ranging expansion of presidential powers, underlines Coalition government must ensure reform Gündüz Fındıkçıoğlu 8 the conflicts between effective government and the need for Voters reject Erdoğan’s ambitions David Tonge 9 voter support for unpopular action. Turkey, like other economies anticipating the onset of US interest rate rises, needs major changes in its economic International monetary policy and social system – but lacks the means to push them through Time for real IMF reform Desmond Lachman 5 without damaging a delicate network of social consent. AIIB shows US is losing influence Willem Middelkoop 10 Weak US data bring out Fed doves Darrell Delamaide 11 Global Europe and the euro Louis de Montpellier
[email protected] Greece on the brink Vicky Pryce 12 +44 20 3395 6189 ConneCt Into aPaC UK Conservatives ready for reforms Gerard Lyons 13 Hon Cheung Towards a new ECB role in shadow banking 15
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