Iran's Ahmadinejad: Capitalism is dead

Iran's President Mahmoud Ahmadinejad sought to bolster the Islamic Republic's regional standing at an economic summit for Muslim leaders in Turkey on Monday, by declaring that a "new era is starting" after the "definite defeat" of capitalism. Analysts say that Iran has had a legitimacy deficit since a disputed presidential election and weeks of violent street battles in June, and is now trying recover lost diplomatic ground. "They've had a real crisis, of both confidence and appearance in regional fora," says Anoush Ehteshami, a professor of international relations at the University of Durham in England. "And I think Turkey provides a very neat way forward for them, given that in many Arab circles, Ahmadinejad is not very welcome."