At the onset of the dramatic transformations in the Arab world more than two years ago, Turkey seemed positioned to assume an important role as a political, economic, and ideological reference for the emerging polities of the region. Two years on, the potential for a Turkish leadership role has receded. Circumstances seem to have maneuvered Turkey into unenviable positions in both Syria and Iraq. Ankara also seems to have tested the limits of its strategic alignment with Washington on issues stemming from its two southern neighbors. The result has been a loss of leadership credibility for the political power best positioned to have a positive stabilizing role in what promises to be years of unrest in the region.