In addressing the prospects of Turkish-French rapprochement, Hariri can count on his close ties to both Erdogan and French President Emmanuel Macron.

With an election in June, former Grand Mufti Muamer Zukorlic has landed a powerful blow in the fight for ascendancy in Serbia’s mainly Muslim Sandzak region. Observers, however, say he is being used by the Serbian government.

Banks cannot engineer a balance between exchange rates and interest rates in a country with free capital flows, where banks’ funding conditions are affected by the global economic environment and by country risk. As Turkey has demonstrated, using banks for this purpose destroys both internal and external economic balances.