M. Ahmet Karabay
It was clear to ordinary citizens as much as to himself that the heaviest burden in the cabinet lay on the shoulders of Mehmet Şimşek, the Minister of Treasury and Finance. Şimşek’s attempt to gather votes on the island was a blow struck by himself to the wall he had meticulously built brick by brick.
Mehmet Şimşek was introduced to Tayyip Erdoğan and Ali Babacan during his time as Deputy Prime Minister responsible for the economy. Following this, he was elected as a Member of Parliament from Gaziantep in the 2007 elections and served in Erdoğan’s cabinet as the State Minister responsible for the economy.
After the transition to the Presidential System and Erdoğan’s claim of being an economist, making himself the absolute single authority, he thought he would never need Mehmet Şimşek again. Subsequently, as he did with others whose services were no longer required, he spoke a series of disparaging words about him.
On December 6, 2019, at his party’s Istanbul Provincial Advisory Council Meeting, Erdoğan accused Ali Babacan and Ahmet Davutoğlu, along with Mehmet Şimşek, of attempting to defraud Halkbank.
When Erdoğan, obsessed with the “interest rates cause inflation” notion, drove inflation from around 20% to triple digits, he sought a new solution. Unable to bring Ali Babacan, who had formed a separate party, back into the fold, the only option left was Mehmet Şimşek.
After the May 2023 elections, by accepting Şimşek’s three conditions, Erdoğan handed over the Ministry of Treasury and Finance to him on June 4. Şimşek, who provided strategic consultancy to numerous international and domestic organizations, took charge of the economy, much like Kemal Derviş, who was seen as a savior of Turkey after the 2001 crisis.
Since then, Şimşek has felt the weight of the burden he carries, maintaining a demeanor that did not undermine his image. Despite some controversial statements, he generally did not make any moves that would harm his reputation. This attitude suited Şimşek, whom I had the chance to meet and discuss various topics with over lengthy periods.
He also managed the departure of Gaye Erkan, the former Central Bank Governor who resigned or was dismissed, in a way that was successful for both himself and the country, thereby smoothly navigating through what could have been a precarious situation for the financial structure.
The Minister of Treasury and Finance has been in his position for just 9 months. Followers of this column found it hard to believe that the newly appointed Central Bank Governor Gaye Erkan, who had no allegations against her when she started working with Şimşek’s team, would be leaving soon, learning this for the first time.
MEHMET ŞİMŞEK MADE THE MISTAKE OF HIS LIFE
Erdoğan keeps the loss of Istanbul in 2019 as a trauma, seeing it as contrary to the system he built since 1994. If he loses again, he views it as a scenario that could disrupt his and the system’s future.
To counter this threat, he will resort to every legal and illegal means until the election. Nevertheless, steps are ready to be taken after the election in case Ekrem İmamoğlu wins.
The main topic here is the efforts to ensure AK Party’s İBB candidate Murat Kurum wins the election…
Not satisfied with seizing all media outlets and putting them at Kurum’s command, efforts are also made to erase Ekrem İmamoğlu’s name from the streets of Istanbul. İmamoğlu’s posters are being torn apart in broad daylight by vandals who are certain that the law enforcement will not take any action against them. If someone were to do the same to a Murat Kurum poster, they would be immediately caught by the police.
During these days when the terror of power is rampant on the streets of Istanbul, Mehmet Şimşek came forward to ask for votes for Murat Kurum.
After Erdoğan’s directive to all ministers to support Kurum’s election campaign, the ministers started to be more active in the field, with Şimşek joining Kurum’s campaign following this order.
Şimşek’s request for votes in Hatay, where Erdoğan held a candidate introduction meeting, threatening the electorate with “nothing comes to the city unless central and local governments work hand in hand, remain united. Did anything come to Hatay? Now, Hatay is left strange, sad,” was an unfortunate move for him.
Having never ventured beyond economic topics until now, Şimşek, upon being ordered to the field, lost his measure and destroyed the image of a “technocrat, not a politician” he had been weaving until then.
ŞİMŞEK’S DEPARTURE TICKET IS CUT
Mehmet Şimşek, stepping down from the podium after asking for support for Kurum, erased all his credibility. Like Gaye Erkan and others before, his reputation was first destroyed. The next steps will follow after the March 31 election. Postponed public price hikes since last summer will start pouring down like rain. Some will be announced on the election night, effective from April 1.
From electricity to natural gas, taxes, and beyond, the signs of these hikes were reluctantly shared by the new Central Bank Governor Fatih Karahan in his first press conference in front of the media. The taxes hinted at by the Central Bank Governor and listed by economist Şeref Oğuz in recent days were denied by Mehmet Şimşek during an interview with BloombergHT’s Açıl Sezen.
The public price hikes starting from the night of March 31 will trigger a new wave of increases in almost everything in the market, further fueling inflation. Eventually, the ball will be back in Erdoğan’s court.
Erdoğan’s comments on November 9, 2023, appearing to praise Şimşek, “I don’t interfere with Mehmet Şimşek; he makes his own decisions,” will turn out to be a trap. Erdoğan will take control again, saying, “See, we brought Mehmet Şimşek, whom they praised so much, and did not interfere with anything he did. Look where he brought the country in a year. He managed to skyrocket the inflation from 38% to three digits.”
“Turkey has no choice but to return to a rational basis,” stated Mehmet Şimşek as he took office, but he eventually largely aligned with Erdoğan’s approach. This will not save Şimşek; on the contrary, it will result in all responsibilities being loaded onto him. If Erdoğan emerges strong from the ballot box, Mehmet Şimşek may see the spring, but will he see the new year?
