Turkey's London roadshow disrupted by political and market turmoil
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A few hours later, a court of appeals in Ankara delivered a landmark ruling, removing the leader of the largest opposition party, Ozgur Ozel, from office, sparking political upheaval and market volatility. The Turkish government stated that it would "take the necessary and coordinated steps to maintain macro-financial stability," while analysts expect the impact of the court's decision to be relatively short-lived. Long-term investors in Turkey have become accustomed to being caught off guard by sudden surprises—from the late-night dismissal of central bank governors and other senior economic officials, to the arrest of prominent political and civil society figures. Such incidents can erase an entire year’s expected returns within minutes.
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