Turkey on the Brink of Bankruptcy: Statements from the Country

Former Turkish Minister of Economy and Deputy Prime Minister Ali Babacan has declared that Turkey is on the brink of bankruptcy. This was reported by eadaily.com.

“Turkey is on the verge of bankruptcy; what does default mean for Turkey, what does insolvency mean? It means that Turkey will not be able to pay for imported natural gas and oil. Bankruptcy means that crucial fuels for meeting basic needs, such as gasoline and diesel, cannot be purchased even with money. This means massive and prolonged power outages across the country, complete economic and financial collapse. Bankruptcy means chaos,” he stated.

According to him, the alleged bankruptcy of the state also signifies massive and prolonged power outages throughout the country.