Independent and cutting-edge analysis on Turkey and its neighborhood

Comparative precedents to this economic meltdown differ considerably between what was once called “the West” and “the East”. For countries in Western Europe the point of reference most prominently associated with the recent developments is the Great Depression of 1929. But for former Comecon member countries the historical parallel does not date back that far. Rather it is found in and compared with the collapse of Communism and the initial experiences of economic transition in 1989-90.