Erdogan Holds Key To Economic Stability
The way Turkish Prime Minister Recep Tayyip Erdogan handles the protests will have a big impact on long-term foreign investors.
The protests that will mark their first full month on Thursday, June 27 raise a major question for long-term investors: Should they worry about political and economic stability in the country, and be wary before tying their money up in the Turkish market? The short answer is no, but it won’t hurt to be guarded.
It’s been clear that these protests revealed Turkish Prime Minister Recep Tayyip Erdogan’s limits in governing the country after almost 11 years in office. Umit Ozdag, chairman of 21st Century Turkey, an Ankara-based think tank, told Al-Monitor, “If those who receive only 6% of the national constituency votes forced him to open negotiations with the imprisoned Kurdistan Workers Party leader Abdullah Ocalan, think about the power of the 50% of the population who haven’t voted for him and is now on the streets.”
