- Turkish Prime Minister Recep Tayyip Erdogan has replaced ten ministers, half of the total number, following the resignation of three ministers yesterday amid a probe into bribery, fraud and gold smuggling.
- The new cabinet members include the economy minister after the previous incumbent quit along with the environment minister, who called on Erdogan to resign as well.
- To add to the PM's worries, anti-corruption protests took place in Istanbul, Ankara and Izmir, with the one in Istanbul turning violent.
- The scandal has badly hit Turkish stocks (TUR) and the ISE 100 index is -0.4% after plummeting 4.2% yesterday. The USD-TRY is +0.6% at 2.0899 lira.
Turkish PM replaces ten ministers as corruption crisis deepens
Dec 26 2013, 03:11 ET