This is how many new Turkish millionaires there are since 2007

The troubling stats under the protests.

The world’s eyes are on Turkey this week. While we see images of tear gas drenched streets, armoured policemen, headscarfed protestors, charred vehicles, banners and flags and a humiliated president, the world thinks “Arab Spring”. Such are the parallels that President Recep Tayyip Erdoğan was forced to announce this morning that the protests that stopped Turkey over the weekend were "not Turkish Spring".

But comparing protest with protest is not really very helpful. Turkey’s Taksim Square, where protesters gathered last week, is not Tahrir in Egypt and neither is it Deraa in Syria (where the Syrian uprising began), Syntagma in Athens nor Wall Street, where Occupy emerged. These comparisons can be dismantled by their causes – Turkey is not a dictatorship, children were not imprisoned for anti-government graffiti, the country is not going bankrupt and nor is it symbolic of greed and capitalism.

Actually, it appears that one uniting current of all these protests is absent from Turkey’s – employment. Turkey’s protests are strange enough when you think that they arose out of an opposition to the development of Taksim Square into a shopping mall. But throw in a few stats about the Turkish economy and they seem even more incomprehensible: Since Erdoğan was elected ten years ago in 2003, per capita income and GDP have both at least doubled. Infrastructure, schools and healthcare have weaved their way out of Istanbul and Ankara and wealth has risen too – the number of millionaires in Turkey has risen by 7.4 per cent since 2007 and Istanbul is the world’s seventh most popular city for billionaires according to WealthInsight.  All this has been achieved despite problematic neighbours in Syria, Greece, Iraq, Georgia and Iran. 

You would think Erdoğan’s achievements deserve national applaud, but people abhor him instead. Progress, it seems, is not progress in everyone’s eyes and Istanbul’s controversial shopping centre is not the only symbol of this. Plans for a new airport, a new bridge spanning the Bosporus and an immense hilltop mosque to shadow Istanbul’s ancient minarets are other projects of hullabaloo. This is not to mention anger about new alcohol restrictions and associated Islamic laws.

So, although Turkey’s protests appear similar to the Arab Spring in image (nearly all modern protests seem visually unanimous), it appears to be oppositely motivated. Rather than protest against the incompetence of their leader, many in Turkey’s cities today are calling for an end to over competence. As David Gardener writes in today’s FT, “Mr Erdogan’s critics insistently accuse him of aspiring to become a neo-Ottoman sultan, but Pharaoh would be just as near the mark”.

Protesters in Turkey. Photograph: Getty Images

Oliver Williams is an analyst at WealthInsight and writes for VRL Financial News

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Theresa May's Brexit stance could come at a political cost

The Prime Minister risks raising unrealistic expectations among Leave backers.

Good morning. For Leavers, there's only one more sleep before Christmas: tomorrow Tim Barrow will moonlight as a courier and hand-deliver Theresa May's letter triggering Article 50 to Donald Tusk and Britain's Brexit talks will start.

Well, sort of. That we're pulling the trigger in the middle of, among other things, the French elections means that the EU27 won't meet to discuss May's exit proposals for another month. (So that's one of 23 out of 24 gone!)

The time pressure of the Article 50 process - which, its author Colin Kerr tells Politico was designed with the expulsion of a newly-autocratic regime in mind rather than his native country - disadvantages the exiting nation at the best of times and if there is no clear winner in the German elections in October that will further eat into Britain's negotiating time.

That Nigel Farage has announced that if the Brexit deal doesn't work out he will simply move abroad may mean that Brexit is now a win-win scenario, but heavy tariffs and customs checks seem a heavy price to pay just to get shot of Farage.

What are the prospects for a good deal? As I've written before, May has kept her best card - Britain's status as a net contributor to the EU budget - in play, though the wholesale rejection of the European Court may cause avoidable headaches over aviation and other cross-border issues where, by definition, there must be pooling of sovereignty one way or another.

That speaks to what could yet prove to be May's biggest mistake: she's done a great job of reassuring the Conservative right that she is "one of them" as far as Brexit is concerned. But as polling for BritainThinks shows, that's come at a cost: expectations for our Brexit deal are sky high. More importantly, the average Brexit voter is at odds with the Brexit elite over immigration. David Davis has once again reiterated that immigration will occasionally rise after we leave the EU. A deal in which we pay for single market access, can strike our own trade deals but the numbers of people coming to Britain remain unchanged might work as far as the British economy is concerned. May might yet come to regret avoiding an honest conversation about what that entails with the British public.

Stephen Bush is special correspondent at the New Statesman. His daily briefing, Morning Call, provides a quick and essential guide to British politics.