Browsing by Subject "Turkish banking crisis"

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    Turkish banking crisis and the debt restructuring process: Istanbul approach
    (J. Net Publishers, 2005) Metin-Özcan, Kıvılcım; Şimsek, K.; Gazioğlu, Ş.
    Turkey experienced crises in November 2000 and February 2001, both due to the structural problems of the banking system and also international circumstances. Financial institutions were affected negatively while the real sector started having difficulty in paying debts. As a result, the balance sheets of some banks were deteriorated because of the soaring non-performing loans which inevitably required a solution. The remedy to the problem was the Istanbul Approach, a Financial Restructuring Program that was inspired by the London Approach and based on the experiences of Asian countries. The program was launched, even though it still suffers from the Jack of laws regarding bankruptcy and other related areas. However, once these changes take place, it is expected to be more efficient.