Skip to main content

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.
Riot police stand guard at Taksim Square in Istanbul June 22, 2013. Turkish riot police fired water cannon and teargas to disperse thousands of anti-government demonstrators in central Istanbul on Saturday, as Prime Minister Tayyip Erdogan castigated those behind protests he said had played into the hands of Turkey's enemies. REUTERS/Marko Djurica (TURKEY - Tags: CIVIL UNREST POLITICS) - RTX10XJP

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.”

Access the Middle East news and analysis you can trust

Join our community of Middle East readers to experience all of Al-Monitor, including 24/7 news, analyses, memos, reports and newsletters.

Subscribe

Only $100 per year.