The recent dismissal of the governor of the Turkish central bank by the head of state, Recep Tayyip Erdoğan, has caused the local currency (the lira) to plummet and volatility in the country's capital markets. As some Spanish companies are directly or indirectly exposed to the country (or are thinking of investing/disinvesting), we believe that it is an opportune moment to discuss essential factors that have been affecting the country’s economy for years.