Turkey did not only threaten Germany as a result of recognition of the Armenian Genocide. In January of 2001, Turkey was threatening France even more, and later closed the Renault plant, due to which thousands of Turks became unemployed , reports La Tribune .

In less than a month, it was a decision of the Turkish Kanal D (controlled by the government) to cease cooperation with the German ZDF that has became the only penalty.

"Those kind of threats are in the style of Erdogan. They are directed towards his own electorate, "says the economist of Lili University Denise Akagyul. Those threats are purely symbolic and do not affect the Turkish-German economic relations, he added. "We cannot but notice similarities between 2001, when the French parliament recognized the Armenian Genocide. The Turkish reaction was much stronger. They threatened to boycott the French products," recalls Akagyule. In addition, there took place public demonstrations. However, the economic reality took the primary place. 

The Turkish boycott had serious consequences. The decision to stop production of the Oyak- Renault, left thousands of employees unemployed, not only employees of the Renault factory in Bursa , but also in the equipment factory in Turkey.

It will not be easy for Turkey to continue being fastidious with such a partner like Germany, which purchases 10 percent of all the Turkish exports. In 2015, that amount increased by 8.4 % to 14.4 billion euros, as the German Foreign Ministry reports. Germany has become the second largest investor in Turkey in 2014 (10.7 % of all investments in the Turkish economy ), after the Netherlands ( 17.6 %).

For Germany it is not beneficial to impair relations with Turkey as well. According to the German Federal Bureau of Statistics, in 2015 , Turkey has been the 14th  among the largest markets for Germany’s exports, (22.4 billion euros , or by 16 percent more than in 2014 ) .

Genocide resolution about the Armenian Genocide has put Merkel in an awkward position. She and the German Foreign Minister Zigmar Gabriel did not vote. However, several days before that, on May 31, Merkel approved the text. Ceri-Sciences-Po Paris Research Center analyst Bayram Balchi comments, Merkel  supported the initiative but wanted to lead a delicate game, if she would still like to discuss with Erdogan the issue of refugees.