Ankara’s recent announcement about its largest-ever gas discovery is an expedient distraction from economic misery at home as it grapples with a tumbling currency, runaway inflation and burgeoning public debt. Qatar provided some band aids to stick over its gaping financial wounds in the form of a credit line, but the country needs much more than this to solve its dire economic crisis.

Interestingly, the announcement came after Turkey failed to overcome opposition to its exploration activities from Greece, Egypt and Cyprus in disputed Mediterranean waters.

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