Mr Dervis lived in the States for years, his wife is American, his mother is Dutch.
In the wrong hands, says Mr Dervis, meaning Mr Erdogan's, the economy could unravel again.
Deny it as he may, Mr Dervis is no infant in the art of political manoeuvre.
Mr Ecevit promptly replied that Mr Dervis had promised not to join the new grouping.
David Roberts, Matthew Walker, Jody Cundy, Sarah Bailey, Dervis Konuralp and Kenny Cairns missed out in their finals.
Mr Dervis makes no secret of his wish to work with Mr Cem as a possible coalition partner.
Then Mr Dervis's dream of a prosperous, European-oriented Turkey would come to nought.
UNDP, Kemal Dervis, an eminent Turkish economist who oversaw his country's financial recovery.
Perhaps those two eastern sophisticates, Mr Dervis and Mr Khalilzad, should cut through the squabbling and sort the matter out.
Only just, says its economy minister, Kemal Dervis, a former World Bank economist recruited in March to sort out the financial mess.
ECONOMIST: Fresh IMF money may save the economy, at a high social cost
Mr Cem announced to a press conference that he is forming a new pro-western political party with Mr Ozkan and Mr Dervis.
Many modern-minded Turks would like to see Mr Dervis as prime minister.
Mr Dervis said Turkey had met all IMF requirements and introduced major reforms to the financial sector, including making the central bank independent and promising an austere budget.
He was followed a few hours later by Kemal Dervis, the economy minister, but Mr Dervis was then persuaded to withdraw his resignation, at least for the moment.
The real risk comes not from vested interests hostile to Mr Dervis and his reforms, but from the public reaction as the changes are rammed through and followed up.
ECONOMIST: Fresh IMF money may save the economy, at a high social cost
"We have high debt accumulated over a lot of years and a lot of that is quite expensive short term, and interest rates can be very high, " said Mr Dervis.
So western diplomats are touting a next-best option, with Turkey's urbane foreign minister, Ismail Cem, a member of Ecevit's party, taking the helm and Mr Dervis still running the economy.
The man the West would like to see in charge is Kemal Dervis, who was brought over last year from the World Bank to deal with the country's mangled finances.
The work undertaken in 1998 allowed Turkey, under a new economy minister, Kemal Dervis, himself an alumnus of the Bank, to take advantage of the opportunity for reform when it arose.
"We have had a tough year, but through stringent fiscal policy, the new floating exchange rate regime, and extensive structural reforms, we have come out of intensive care unit, " Mr Dervis said.
Mr Dervis plays a key role, managing the government's relationship with the International Monetary Fund (IMF) and he seems to have returned to the government solely to stop the financial markets from panicking.
The most dramatic instance came after the crisis of 2001, when Kemal Dervis took over as finance minister and, with the help of the IMF, devised the fiscal and monetary framework that was largely responsible for the country's subsequent success.
Mr Cem, a committed Europhile who is well-liked by the public, would guarantee good relations with the EU. Mr Dervis, who would almost certainly join them, would be able to continue to manage Turkey's relationship with the IMF and foreign banks.
Mehmet Simsek, the finance minister, wanted to retain the IMF at the time, but Mr Babacan, who is now deputy prime minister, points out that none of Turkey's previous IMF programmes was ever completed (even Mr Dervis's was interrupted by the 2002 election).
ECONOMIST: The economy has had a big boost from much sounder management
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