TURKEY COUP LEAVES COMPANIES SCARED
A military coup over the weekend against the Turkish government failed, but the fallout remains. Turkey has been plunged into chaos, with President Erdogan cracking down on everyone involved. However, the problems that Turkey faces are not purely domestic; they spread to the international business stage. American companies once loved Turkey. Now, they have billions of dollars on the line and potential to lose it all. As a result of the crackdown, the Turkish currency, the lira, has grown weaker with respect to the dollar. The growing uncertainty in the Turkish economy would most likely have companies like Ford worried. Along with General Electric and Unilever, Ford has invested copious amounts of money in Turkey. While they declined to comment on the matter, Turkey’s economic state does not bode well for American companies that have invested in the country.