The Cartel of 12 Turkish Banks and Consumer Harm: What Happens Now?


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ŞAHİN E.

European Competition Law Review, vol.38, pp.180-186, 2017 (Peer-Reviewed Journal)

  • Publication Type: Article / Article
  • Volume: 38
  • Publication Date: 2017
  • Journal Name: European Competition Law Review
  • Journal Indexes: EBSCO Legal Source, Index to Legal Periodicals, Index to legal periodicals & books
  • Page Numbers: pp.180-186
  • Erzincan Binali Yildirim University Affiliated: Yes

Abstract

Private competition law enforcement has remained relatively underdeveloped in Turkey and is inadequate for enabling consumers to seek redress for the harm suffered. This becomes more apparent and topical with the recent collusion case where 12 banks imposed significant harm on over 33 million victims. This article examines the extent of the harm caused by this collusion and how ineffective the private enforcement system is to provide victims with access to justice and finally discusses a possible way forward to facilitate consumer damage claims.