People Commenting on Economic Crisis at Court: It Has Been a Tragicomic Trial

* From left to right: Mustafa Sönmez, Merdan Yanardağ and Sedef Kabaş

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The first hearing of the case filed against 38 people including Kerim Karakaya and Fercan Yalınkılıç, who reported the news about "economic crisis and foreign exchange" on Bloomberg in 2018, started at the İstanbul 3rd Penal Court of First Instance today (September 20).

Among the 38 people charged with "contravening the Law on Capital Market" are also four other journalists, economists and social media users.

CLICK - 38 Face Lawsuit for Commenting on Economic Crisis

Karakaya: I gave opinion while law was drafted

Presenting his statement of defense, Bloomberg reporter Kerim Karakaya made the following remarks in brief:

"I have been a journalist for 20 years. I am an economy reporter, we have been reporting on economy and finance. I have written about lots of crises for 20 years, but it is the first time that I am put on trial.

"I was among the ones who gave opinions as an economy journalist on the Article 102 of the Law on Capital Market, based on which I am put on trial. All I can say is that it has been a tragicomic trial.

'The BDDK did not refute our news'

"August 10, 2018 was an important day for the markets and economy. We reported the news in question at around 11 p.m. As journalists, we were obliged to inform our readers about what happened on that day. But, then, we understood that the Banking Regulation and Supervision Agency (BDDK) was disturbed by this news of ours.

"What this news said in brief was that the value of US Dollar increased by 24 percent on that day. We also wrote that the BDDK would meet with bank executives at the weekend. We did not gain any benefits from this news. The BDDK did not refute our news after all."

Yankılıç: We wrote our observations

Taking the floor after Karakaya, other Bloomberg reporter Fercan Yalınkılıç indicated that "they did not make any fabricated news" and briefly stated the following in his statement of defense:

"The bank accounts of our company are regularly inspected. When there is a benefit, if we make profit from any company, our company will terminate our contracts anyway.

"On the day when the news was made, we went to banks and wanted to withdraw foreign currency, we made an observation. When we wanted to withdraw money, they told us that they could do it the day after. And we wrote it. After we made the news, the BDDK released a statement. We put this statement in our news anyway. But, the updated version of the news has not been included in the bill of indictment."

Yanardağ: Those who caused crisis should be tried

Tried as part of the same case due to his social media messages, journalist Merdan Yanardağ said, "We are faced with an extremely funny charge" and stated the following in brief:

"We are charged with plotting an economic coup. I think that it is done on purpose. I think that there is an attempt to hide the reasons of economic crisis. I am a journalist; if I do not write about such things, who will? There is an economic crisis. We are the ones who are affected by that crisis the most. I am trying to sustain a media organization. If a lawsuit will be filed, then it should be filed against the ones who have caused the crisis."

Sönmez: It is not economic, but political

Put on trial due to his social media posts about the news report in question, journalist and economist Mustafa Sönmez also said,

"I am a journalist and writer. I am doing my job. Moreover, I used my right to freedom of expression in the Constitution. I think that this case will go down in the legal history of Turkey. This case is not a case of economics, but a case of politics. It has been filed to silence dissenting voices."

Kabaş: This crisis is new in every part of the world

Journalist Sedef Kabaş also stated, "I have been a journalist for 25 years. One of the most important crises of the history of Turkey occurred in August 2018. This crisis and resulting public reactions are news in every part of the world. Our duty is to inform the public about economics in the best way possible so that they could take precautions.

"If a lesson had been learnt from that crisis, we would not be in such a state now. I made no recommendations in my tweets. I expressed my criticisms about current issues as a journalist and citizen. My criticisms are within the scope of freedom of expression.

Requests for acquittal rejected

After statements for press were taken, the court board rejected the requests for acquittal and issued warrants against the ones who did not attend the hearing. The next hearing of the case will be held on January 17, 2020.

(HA/SD)