The Istanbul 100 Index slid 5.1% this morning, while the Turkish lira rebounded 3% to 2.9274 vs. the greenback, following Friday’s failed coup attempt that left 290 people dead and over 6,000 arrested. NATO allies have thrown their support behind President Erdogan, but tension is still high over his demand to extradite a U.S.-based cleric whom he blamed for the overthrow attempt. Is the West shifting its stance of wanting a thriving democracy in countries like Turkey and Egypt, or at this point, does it just want strength and stability?
