Adultery clause costing Turkey dear

Since the ruling Justice and Development Party (AKP) withdrew the penal code bill from parliament on Friday the Turkish markets had been cautious. On Monday the shares in the Istanbul Stock Exchange lost 3.4 percent in value and state bonds interest rates went up by seven percent.
The Turkish currency lost strength against USD currently standing at 1,540,000 Turkish Lira for 1 USD amid the growing ambiguity over the outcome of Ankara’s EU bid.
The AKP unexpectedly pulled the bill off the parliament floor to reintroduce the adultery clause it had earlier agreed to drop. The government insisted in including a clause that would criminalise adultery and introduce jail terms for the act.
The European Union in reaction warned that this act would be badly reflected on the October 6 Turkey progress report which have a direct impact on whether or not to start negotiation talks with Ankara on December 2004.