TURKEY – INDUSTRY SHUTS DOWN as Electricity is CUT OFF for 4 DAYS – Over 67,000 Businesses Affected

TURKEY – INDUSTRY SHUTS DOWN as Electricity is CUT OFF for 4 DAYS – Over 67,000 Businesses Affected

The Crisis in Turkey has just become much worse. The Authorities have just announced that ELECTRICITY WILL BE CUT OFF in the Organized Industrial Zones. Over 67,000 businesses more than 2 MILLION jobs are located in the OIZ’s. To make matters worse Turkey is experiencing SNOW and FREEZING TEMPERATURES making the demand for NATURAL GAS even higher (which is the route cause of the problem).

This situation is a DISASTER for Turkey and could have a long lasting effect on both Turkish Industry and the Economy. Turkey is fast running out of road….

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0:00 Intro
5:05 OIZ’s
7:12 EGE
14:18 Summary & Conclusion

#Turkey Crisis
#Global Financial Crisis

Video Duration: 00:18:01

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36 thoughts on “TURKEY – INDUSTRY SHUTS DOWN as Electricity is CUT OFF for 4 DAYS – Over 67,000 Businesses Affected

  1. Mike the Spike says:

    Nothing to do with technical disruption of gas supplies. Turkey is running out of foreign currency reserves, the stuff foreign energy suppliers insist on being paid with. This is what happens when a country lets a financial amateur dictate economic policy against all financial wisdom.
    The solution: replace Erdogan with someone competent.

  2. Robert Humphreys says:

    Globalization and JIT supply chains: a great idea for everyone, until something goes wrong. Seems like a lot of somethings are happening these days. Kind of like the US government: three years of somethings and no end in sight.. What we are finding is that complexity and anti-fragility are opposites. And with shaky, inept, self-interested leadership everywhere (also global), it isn't going to get better. Perhaps Marky Z can conjure up a virtual reality where globalism works for everyone, all of the time.

  3. sahhaf1234 says:

    I am turkish, and this is the most accurate and the most detailed video I've even watched on the situation in Turkey…
    The problem is with the huge amount of debt erdoğan has accumulated over the last 20 years.. When erdoğan came to rule in 2003, turkey's external debt was 130 billion dollars and its central bank reserves was 30 billion dollars. Now turkey's foreign debt 1s 450 billion dollars and its cental bank reserves is -60 billion dollars (yes, minus). If we do the math, we will see that erdoğan borrowed and spent 440 billion dollars. Add to that the revenues coming from privatization, which is 100 billion dollars, we can see that erdoğan had 540 billion dollars worth of extra money to spend in his hand, in addition to the tax revenue…
    With this half a trillion dollar extra resource, erdoğan government did surprisingly little investment.. A few bridges, a few tunnels, a few roads, but that's all. Instead, the money is fed into a huge construction boom and import of luxury goods. Also, turkey entered into a lot of very costly foeign adventures, which benefited neither turkey nor syria nor libya…
    The problem is: while this half a trillion dollar debt money is dissipating in in the economy, like a drug slowly diffusing into the addict's body, everybody was very happy. Everybody become erdoğan's fan, and he kept on winning the elections. Nobody asked the question "where all these money is coming from?" Now the foreign debt (=drug) is dissipated, and we are suffering all the withdrawal symptoms.. It is bad and it will become worse…
    Turkey is a democracy.. Turkish people had kept on electing erdoğan, even though the numbers clearly showing where he was dragging the economy was available for everyone to see at all times. Hence, the last responsibility rests with the turkish people.. It is not pretty, but entirely just for them to suffer..

  4. Absolute Anonomity says:

    İran is continuing it's gas flows to Turkey. By the way, Azerbaijan has the capacity to fill any void which may be left by Iran stopping their gas supplies.
    I really wonder who is really paying you for spreading lies about Turkey.

    I will come an comment under your videos as soon January export figures are released for Turkey. Let's see by what percentage the exports have gone up by.

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