Erdogan’s Turkey: The Great Seizure of Malta?

It is part of our DNA to look at Turkey without much commiseration when we see her in trouble. The Great Siege of 1565 is an integral part of Malta’s self-understanding as a nation.

As a Catholic country we are troubled to see Turkey’s Christians in retreat and alarmed about the rapid erosion of secularism. As democrats we worry about Erdogan’s blatant disregard for human rights, his disrespect of parliamentary opposition and the rule of law.

As retail investors though, we should be alarmed by the economic travails emanating from Turkey these days, posing a threat to Europe’s security, societal coherence and financial stability. The crash of the Turkish Lira, which in a very short time lost half its value, is damaging for Europe’s banks, for our savings and investments. It will be felt by our tourism industry too: it is very hard to offer sun, sea and sangria when Turkey is offering the same for half the price.

Recep Tayyip Erdogan’s rise to power was not only facilitated by flirting with the Kurds as long as he needed their votes; or co­opera­ting with the Muslim-“Jesuit” movement of Fethulla Guelen, the US-based preacher and businessman with a large following in Turkey, with...