Erdoğan asserts Turkey's markets are robust and promises legal steps in fund scandal
President Recep Tayyip Erdoğan said Turkey's capital markets are strong and pledged decisive legal action over recent fund-related disturbances.
President Recep Tayyip Erdoğan addressed the nation following a Cabinet session in Ankara, declaring that Turkey's capital markets possess solid foundations and ample capacity to weather the present issue. He stressed that any threat to the peace, prosperity, or development of the country's 86 million citizens would trigger swift, uncompromising action. Mehmet Şimşek, the Treasury and Finance Minister, outlined that legal proceedings against those involved in fund-market manipulation are proceeding and that necessary liquidity support will remain in place.
Earlier this month, regulators moved quickly to stabilize markets, probing suspected share-price manipulation in thinly traded stocks that caused heavy losses and redemption pressure on investment funds. Erdoğan also noted that the liquidation process for the affected funds is being handled with great care. He underscored Turkey's near-$2 trillion economy and the overall strength of its financial system.
Why it matters
The statements signal government resolve to protect Turkey's financial stability amid fund-market turmoil.
How this story developed
- Aug 28 Pakistan, Saudi Arabia and Turkey launch Mecca Defence Alliance, secretariat set in Riyadh
- Sep 6 Turkey reiterated its long‑standing claims over continental shelves.
- Sep 13 Pakistan reiterated that no immediate military response under the Makkah pact is being discussed.
- Sep 13 The Greek prime minister publicly called for dialogue with Turkey while maintaining a formal protest over Turkey’s maritime park claims.
- Sep 17 U.S. intelligence officials warn that the planned sale of 48 F-35 jets to Saudi Arabia may enable China to obtain classified radar and intelligence systems.
- Sep 17 Washington has moved from earlier concerns to signaling support for the Saudi F‑35 package.
- Sep 18 State Department formally informed Congress of the intended sale.
- Sep 21 Prime Minister Andy Burnham has authorized British aircraft to provide defensive air-to-air refuelling for Saudi jets fighting Houthi rebels in Yemen.
- Sep 21 Prime Minister Andy Burnham said he agreed to Saudi Arabia's request for defensive air-to-air refuelling while travelling to New York for a United Nations General Assembly meeting.
- Sep 22 Burnham announced the decision while traveling to the UN General Assembly.
- Sep 23 Turkey and Iraq agreed to boost security cooperation, restore full Iraqi authority in Sinjar and gradually transfer the Bashiqa-Zilkan base to Baghdad.
- Sep 25 Foreign minister Hakan Fidan announced willingness to meet the kingdom’s technical military needs.
- Sep 25 The UK moved from earlier talks to a formal agreement to provide the Voyager tanker.
- Sep 26 Turkey and Iraq announced a phased handover of the Bashiqa‑Zilkan base under a pre‑agreed schedule.
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