Financial crisis threatens Erdoğan with arrests and freezes
Turkey has experienced a widespread financial crisis resulting from investigations into market violations that led to the detention of 45 individuals, including former officials of the Central Bank. Additionally, measures have been taken such as freezing hundreds of millions of liras and dealing with a 6% decline in the Istanbul Stock Exchange index. Trading has also been suspended for 131 funds, with asset management exceeding 800 billion liras, while investigations are ongoing into market manipulation and cross-border financial transfers. Turkish President Recep Tayyip Erdoğan confirmed that there is no danger to the financial system, vowing to hold those responsible accountable. He also anticipated that the liquidation of funds would continue for approximately six months.
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