Babacan Alleges $150 Billion Loss! Fund Crisis Hits the Stock Market Too.

Tr724

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Ali Babacan, the leader of the Democracy and Progress (DEVA) Party, announced that the total loss exceeded 7 trillion Turkish Lira, taking into account not only the money stolen from investors in the fund fraud but also the stock market collapse. Stating that the fund crisis caused damage to the capital markets in general, Babacan said that the loss in value of publicly traded companies was 150 billion dollars. The fraud in the closed funds amou…

BoldMedya

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BOLD – Economics writer İbrahim Kahveci stated that the loss in value experienced on the Istanbul Stock Exchange following the fund heist has reached approximately 3 trillion lira, warning that the crisis could spread to the real economy. According to his calculations based on SPK (Capital Markets Board) data, the decrease in the market value of publicly traded shares reached 65.5 billion dollars. Kahveci argued that the losses in financial mark…

hha.com.tr

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DEVA Party leader Ali Babacan argued that the crisis in Türkiye, which began with investment funds, has led to much greater losses in financial markets.

yenicaggazetesi.com

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DEVA Party leader Ali Babacan, during his inspection of flood-affected Ayazağa, stated that the total loss of value in the markets due to the fund fraud exceeded $150 billion. Babacan compared this figure to the revenues from tea and hazelnuts.

Karar Gazetesi

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Ibrahim Kahveci stated that the fund scandal has turned into a crisis threatening not only investors but the entire economy. Pointing out that according to Capital Markets Board (SPK) data, the market value of companies traded on the stock exchange has decreased by approximately 3 trillion lira, Kahveci wrote that the dollar equivalent of this loss has reached 65.5 billion dollars. Comparing the current situation to the cost of the 2001 crisis, …