Word: nationalizes
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...Read Dr. Gupta's Fit Nation here...
...country's biggest privately owned bank. Back in 2001, she lived through a meltdown of the Turkish banking system and a terrifying 9.5% one-year drop in gross domestic product. Akbank posted a big loss that year, but at least it escaped a worse fate: almost half of the nation's 80-plus banks disappeared...
...also hope. The Turkish banks that survived that earlier crisis emerged from it much better capitalized - and more heavily regulated - than their peers in the U.S. or Europe. Today, thanks to surging investment and exports, the Turkish economy is double the size it was in 2001, and the nation's financiers have been among the biggest beneficiaries of the boom. As Sabanci Dinçer says, with more than a touch of pride: "The banking system here is very healthy...
...investment poured into Turkey this decade as companies ranging from French insurer Axa to U.S. private-equity firm Kohlberg Kravis Roberts snapped up Turkish assets. But that flood has now been reduced to a trickle. The burgeoning middle class is starting to curb its free-spending ways, and the nation's two major export industries - automobiles and textiles - are watching nervously as international sales drop...
...including his attempt to lift a ban on women wearing head scarves at university. Erdogan easily returned to power in a snap election he called in July 2007 in response to a possible coup threat by the army. This July, the AKP won a court case brought by the nation's chief prosecutor, who sought to outlaw the party on the grounds that it was antisecular. But these political struggles have been an awkward distraction at a critical time, and may have scared off potential foreign investors. In a report this month, Wolfango Piccoli, a Turkey expert at consultants Eurasia...