There was a time when the construction cranes dotting the Istanbul skyline seemed a sign of Turkey's economic promise. Foreign investors came from afar to tap into Turkey's potential as the latest and greatest emerging market, while a slew of construction projects provided the jobs and economic growth to convince a majority of Turks that the government was fulfilling its social contract and thus remained worthy of their votes. From the founding of the Republic of Turkey in 1923 until 2000, the cumulative stock of foreign direct investment stood at just under $19 billion. Under the leadership of the Justice and Development Party (also known by its Turkish acronym, AKP), Turkey exceeded that figure each year from the start of EU accession negotiations in 2005 until the onset of the European crisis in 2009.