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Made in Germany

Government Crisis in Turkey - How great is the economic damage?

For many years Turkish Prime Minister Recep Tayyip Erdogan was considered a ray of hope. But now his government has been plunged into crisis. Some ministers have been forced to step down in the face of a deepening corruption scandal. Many entrepreneurs and foreign investors are worried about the country's future.

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During the past few days, the Borsa Istanbul dropped by about ten percent. The Turkish lira is at a record low. If the corruption scandal becomes a national crisis, the economy could collapse. Until now, Turkey has been considered a stable and attractive market for many German companies as well.