Was it an opportunistic volte-face or were long-repressed journalists delighted to throw off the shackles of censorship?
So Turkey did another volte-face. Mr Erdogan declared that friendship with Armenia was no longer possible unless it withdrew from Nagorno-Karabakh.
The idea that he could suddenly volte-face and seek to be accepted on the world stage as a friend of the U.S. is far from impossible.
More generally, arguments that private-equity firms should be allowed greater flexibility by regulators to inject capital into ailing Banks look a bit less persuasive after this volte-face.
