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In an attempt to bring Turkish law in line with requirements set forth by the European Union, the government submitted a package of laws last week to parliament. Turkey's powerful military, long a supporter of the country's drive toward EU membership, has objected to some elements in the 19-article package, considered by many observers to strike at the military's considerable political influence.

Foreign interest in the Bulgarian economy became something of a theme this week, as US companies were reported to be taking a strong interest in the projected Bourgas-Alexandroupolis oil pipeline. Meanwhile, a large consortium of US companies and interests was also in talks with Turkey's Koc Holding over a possible bid for the Bulgarian Telecommunications Company (BTC).

With the country's leaders now finally included in the European Union family photograph, thanks to June's EU Thessalonika summit, a new mood of optimism has been evident in Ankara. A determined rash of new, EU-oriented legislative reform and a thawing in relations with the US have also added to the feeling that Turkey is entering the summer months in much better shape than some had predicted. Onlookers at the International Monetary Fund (IMF), on the other hand, would sound a note of caution. Progress in Turkey's efforts on the European front have been coupled with delays in key reforms required by the IMF

Turkey’s privatisation programme took another step forward this week with announcements on tendering for oil refiner Tupras and alcohol and tobacco giant TEKEL. However, controversy surrounded the successful bid for petrochemical company Petkim by a firm controlled by the Uzan family - who are currently facing a USD3bn lawsuit in New York.

As Azeris celebrated the anniversary of the foundation of their republic on May 28, doubts remained over the country's future leadership following President Haydar Aliyev's recent illness. However, while that issue may be uncertain, efforts to bring some clarity to two other issues of pressing importance have been underway. Both of these concerned the tricky business of territorial definition. Firstly, regarding the Caspian Sea, and secondly, concerning jurisdiction over the territory occupied by the Baku-Tblisi-Ceyhan oil pipeline.