Turkish Economy IS in Crisis | Real Turkey


I’ve predicted in countless videos that a deep crisis is awaiting the Turkish economy.  As foreign commentators applaud its resilience I shall now explain WHY the crisis has already started.


  • Traditional definition of “crisis”: Bank failures, debt defaults, currency shocks. That is all foreign investors and commentators care about.


  • How about the Turkish people? How do they feel?  What do they think?


  • Broad based unemployment is over 25%. Youth unemployment is 25%, too. Most young Turks want to leave the country asap.


  • World Bank: Turkish poverty at a 10 year high


  • Fitch: 15% of bank loans dead or in a coma.


  • Surveys: 88% of Turks think the economy is in crisis


  • Surveys: The economy is in bad shape and 55% expect it to deteriorate further in the next 12 months.


  • A majority think Erdogan can’t govern the country effectively.


  • THIS, dear viewers, IS the definition of an economy in CRISIS.


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Published By: Atilla Yeşilada

GlobalSource Partners’ Turkey Country Analyst Atilla Yesilada is the country’s leading political analyst and commentator. He is known throughout the finance and political science world for his thorough and outspoken coverage of Turkey’s political and financial developments. In addition to his extensive writing schedule, he is often called upon to provide his political expertise on major radio and television channels. Based in Istanbul, Atilla is co-founder of the information platform Istanbul Analytics and is one of GlobalSource’s local partners in Turkey. In addition to his consulting work and speaking engagements throughout the US, Europe and the Middle East, he writes regular columns for Turkey’s leading financial websites VATAN and www.paraanaliz.com and has contributed to the financial daily Referans and the liberal daily Radikal.