Erdogan's ready to smear the banks: is Turkey about to face a financial crisis worse than that of 2001?

Do?an Cans?zlar, former head of the Capital Markets Board (SPK), has warned, in light of claims that a number of Turkish banks are in difficulty, that a smear campaign orchestrated by President Recep Tayyip Erdo?an against Bank Asya could lead to a worse financial crisis than the one Turkey suffered back in 2001. At the beginning of the week, Erdo?an publicly threatened independent regulatory body, the Banking Regulation and Supervision Agency (BDDK), over its lack of action against Bank Asya, saying the agency must take a decision on the bank and follow through on it. The banking industry may be in worse shape than many think. On Tuesday Twitter user @fuatavni revealed the names of eight banks that he maintains are in financial difficulties.