"One of the rules of thumb about understanding Recep Tayyip Erdogan is to watch what he does, not what he says. The Turkish prime minister is known for his capacity to come out with fiery rhetoric on occasion, but also for a record of reforms that outstrips most of his modern day predecessors.
Still, it may be getting harder to distinguish word and deed, particularly when it comes to Erdogan’s recent denunciations of an “interest rate lobby” hostile to Turkey and his apparent threats against the Koc group, Turkey’s biggest conglomerate.
As Erdogan has it, the interest rate lobby – which appears to refer both to foreign capital and Turkish financial groups – was partly behind the country’s recent mass protests. The Koc group, which boasts that it accounts for some 10 per cent of the country’s GDP, is an old bête noire – the epitome of the “white Turks”, or established priviliged elite, Erdogan has attacked throughout his career."
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