One year after the Gezi Park protests began, Turkey has yet to calm investors’ fears of political risks at home, while external risks such as US Federal Reserve (Fed) monetary stimulus tapering, add to the threat of losing the image it has held for the last decade of being a reliable investment market with sustainable growth. 

The government’s inability to manage the Gezi crisis and attributing almost all market-related problems to protests at home revealed how unprepared it was to contain the damage from the even bigger international market troubles waiting to strike. An alarm bell for emerging markets, the Fed first indicated that it would stop its bond purchases on May 22 of last year, roughly a week before Gezi erupted. Market experts argue that, shocked at the extent of the protests, the government chose to use Gezi as an excuse to buy time while global market troubles were…