I am sure that the fund managers in the City of London or New York’s Manhattan or Frankfurt’s financial distrcit are very surprised. They may even be shocked. I am quite sure that many fund managers and bankers who have helped Erdogan's government stay in power for so many years by channelling their hot money to Istanbul’s stock market are now calling their brokers in İItanbul. 

This year’s presidential race in Iran was dramatically shaken this week by the news that Ali Akbar Hashemi Rafsanjani had announced his candidacy. Although Rafsanjani has fallen out of favour with the regime in recent years, it is quite possible that his bid could be successful.

As the Syrian revolution remains locked in civil war for a third year, regional powers have begun to use the conflict as an opportunity to advance their own imperialist agendas. Syria has become a battleground for a proxy war between Iran, Israel, and the Arab states of the Gulf, especially Saudi Arabia and Qatar.

The kingdom of Saudi Arabia, one of the foremost allies of the USA in the Middle East, brutally exploits its migrant workers. The visa regime keeps the workers in a state of permanent dependency on their employers and abuses are common. At the other end of the spectrum members of the royal family, including the king himself, are among the richest people in the world with billions of dollars in wealth. This contradiction has revolutionary implications.

President Obama’s recent visit to Israel and the ‘Palestinian Territories’ has proved to be another abject failure in an obscene diplomacy being flaunted by US imperialism to end the conflict in the region. The only thing this visit brought to the fore is the sheer weakness of Obama and his policy of appeasing Zionist hawks as well as the US right. During the visit he reiterated over and over again that the USA was the best ally Israel could have and Washington would continue to support Israel come what may. In short, it was a high-profile visit by yet another US president with the same old failed message. In many ways, this visit was an endorsement for the Zionist state to continue its belligerent policies of occupation and repression of the Palestinian masses.

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