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Turkey 'Looks Vulnerable' as Unrest Flares Again CNBC.com | July 09, 2013 | 04:54 AM EDT More clashes between protesters and police have put Turkey's social unrest back in the
spotlight, following unprecedented steps by the country's central bank to shore up its
weakening currency. Turkish police on Monday fired teargas and water cannons at protesters who tried to enter Gezi Park in Istanbul to protest again at the park's redevelopment the original source of discontent that led thousands of Turkish people to demand a change of government last
month. But economists warned that further social unrest and unresolved political tensions would not help Turkey's unstable economy and cautious investor landscape. "Further protests would undoubtedly damage the economy further," Nigel Rendell, senior
economic policy adviser at Medley Global Advisors, told CNBC on Tuesday. "I don't think
these current protests will get the same ground swell of support as before - the police will
take a hard line in response to further protests - but they could certainly damage the
economy." The site of Monday's clashes was the focus of protests in late May and June when
widespread social unrest gripped Turkey, threatening to bring down Prime Minister Tayyip
Erdogan's government and damage the economy, which relies heavily on tourism and foreign investment .
spotlight, following unprecedented steps by the country's central bank to shore up its
weakening currency. Turkish police on Monday fired teargas and water cannons at protesters who tried to enter Gezi Park in Istanbul to protest again at the park's redevelopment the original source of discontent that led thousands of Turkish people to demand a change of government last
month. But economists warned that further social unrest and unresolved political tensions would not help Turkey's unstable economy and cautious investor landscape. "Further protests would undoubtedly damage the economy further," Nigel Rendell, senior
economic policy adviser at Medley Global Advisors, told CNBC on Tuesday. "I don't think
these current protests will get the same ground swell of support as before - the police will
take a hard line in response to further protests - but they could certainly damage the
economy." The site of Monday's clashes was the focus of protests in late May and June when
widespread social unrest gripped Turkey, threatening to bring down Prime Minister Tayyip
Erdogan's government and damage the economy, which relies heavily on tourism and foreign investment .
