According to him, this move would lead to a significant deterioration in relations between Turkey and the West.
"If President Erdogan introduces the death penalty, and that requires a constitutional amendment, this means the end of Turkey's accession process with the European Union. And that would have significant implications on Turkey's economy, on its relationship with Europe and the United States," Hakura said.
Earlier, Erdogan stated that he doesn't exclude recalling the death penalty that had been abolished in 2004 following the recent military coup attempt in the country.
On Friday, an attempted military coup took place in Turkey with tanks seen on the streets of the capital of Ankara and the largest city of Istanbul, as the military tried to take control of the country. By early Saturday the coup had been suppressed.
According to the expert, "Turkey is extremely dependent on foreign financial flows" and the introduction of the death penalty would drastically affect Turkey's economy.
"Introducing the death penalty and breaking ties with the EU could have very negative implications on Turkey's economy," the expert concluded.