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NOTHING IS PERMANENT EXCEPT CHANGE

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 […]

The Russian economy is stagnating across almost all sectors, meaning that boosting growth will be impossible without deep structural reforms. But with President Vladimir Putin approaching a fourth term after having shown little appetite for such reform, there is no reason to expect much to change in the foreseeable future.