Failures in Syria and Libya Fuel Coup Speculations Against Erdogan – Global Research

A detailed report by New Economy found that “Turkey’s probability of bankruptcy is extremely high,” along with its three big banks of Garanti, Akbank and the Mustafa Kemal Atatürk-founded İşbank. “The country’s commercial banks, its last stronghold, have dried up from foreign exchange currency,” meaning that Turkey has nearly no money for its import and export companies.

Another report found that failed wars against Libya and Syria have been a major problem for its economy, making Turkey’s bankruptcy probability over 30% in the forthcoming period, putting them behind only Venezuela and Argentina, but “without having the US embargo that Venezuela has, nor the vast debt that Argentina brings.”

Most startling however for Turkey is that it has to find $80 billion by August, according to New Economy, or else it faces bankruptcy.

Failures in Syria and Libya Fuel Coup Speculations Against Erdogan

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