After consulting with the National Security Council, the Council of Ministers of the Republic of Turkey, meeting under the chair of the President of the Republic of Turkey, has declared a state of emergency throughout Turkey, starting from 1 a.m. on 21 July 2016 and lasting for a period of 90 days. This decision was ratified by the Grand National Assembly of Turkey on 21 July 2016.
This Client Alert aims to briefly outline the legal aspects governing the state of emergency and to describe recent market-related developments following this decision.
Please click on the file below to read the full Client Alert.