Cleaning in private sector to be without mercy, but lawful after coup attempt: Babacan

“We saw extremely extraordinary things. It must be noted that who was responsible for all these bad things will be punished in the most severe manner. There was an attack to the national will… Some of these attackers also soaked into the private sector. It will of course take some time to clean the sector from the members of a structure which traces back some 40 years. Some of them are in the financial sector; some are in the private sector. These need to be cleaned. There is no room for us to take any risk here. This cleaning process must be without mercy in line with what the rule of law requires. This also needs to be done in accordance with the manners of being a state… As our judicial system will make a thorough assessment and probe, all truths will be uncovered in the upcoming months, even years,” said Babacan in an interview on CNN Türk on July 31, adding the power of the people had beaten the “terrorists.”

Babacan also said that both the Turkish Lira and the market began to recover in a short time after the coup attempt. 

“We saw that our main stock exchange saw an around 13 percent loss in the first week following the failed coup attempt, but this regressed to 8 percent in the second week,” he said. 

“If the reform process is accelerated during this process, our economy will make huge gains,” added Babacan.