Turkish president issues defiant response amid slide in lira fuelled by standoff with US
Recep Tayyip Erdoğan has said Turkey will boycott electronic products from the US, as he issued another defiant response to sanctions imposed in a dispute over the detention of an American evangelical pastor.
Evangelical missionary, indicted in Turkey on charges of espionage and links to terror groups, is martyr in eyes of US Christian right
Recep Tayyip Erdoğan’s hubris has destablised a nation of pivotal regional importanceHubris begets nemesis, as the ancient Greeks opined. It’s a life lesson Recep Tayyip Erdoğan, Turkey’s arrogant leader, appears unable to absorb as his country teeters over an abyss of his making. Erdoğan argued in June’s elections that an all-powerful executive presidency was the best way to govern – and he was the best man for the job. His wish was granted. Now Turkey is in crisis. The fall from grace – this shattering of the omnipotent strongman-sun king image – has come more quickly than anybody imagined. And since Erdoğan is in sole charge these days, he will be hard put to avoid sole blame.
The options as the country’s economic growth displays the classic signs of overheating
The currency crash and high inflation have made lives harder, with many blaming Erdoğan
On a normal day, Abdulmecit’s barber shop not far from the medieval Galata tower in Istanbul would be bustling with customers. A week before the Muslim festival of Eid al-Adha, men would stream in for a shave or haircut before the holidays.
US president believed he had secured deal with Turkish president to secure release of pastor, sources say
The currency plunge imperilling Turkey’s economy has been fuelled by a standoff between Donald Trump and Recep Tayyip Erdoğan over the fate of a Turkish woman detained in Israel whose freedom the US president brokered, and an American pastor held in Turkeywhose release he demands in return, officials in Ankara have claimed.
Refusing standard monetary medicine means following Argentina is logical conclusion
There is not an easy way for Turkey to escape its financial crisis but three measures that might contain the coming pain would be these. First, raise interest rates to try to put a floor under the plunging lira. Second, tone down the bellicose rhetoric and certainly don’t pick new fights with the US. Third, call the International Monetary Fund.
Peso and rand are knock-on casualties of currency slide after lira falls 8% against dollar
A fresh plunge in the Turkish lira sent tremors through global currency markets on Monday, amid fears that the failure of Recep Tayyip Erdoğan’s government to tackle its worsening financial crisis would have a domino effect on other vulnerable countries.
All the day’s economic and financial news, as Turkey’s crisis hits shares and currencies around the globe
Euro falls to one-year low as investors worry lira’s crash could infect European markets
The Turkish lira was trading sharply lower on Monday even after the country’s central bank announced measures to shore up the financial system amid warnings of a deepening crisis. The beleaguered currency fell as much as 11 per cent to a new record
An economic destabilization of #Turkey is in no one's interest. We call on the United States and Turkey to solve their problems through constructive diplomatic engagement. Read our statement below: pic.twitter.com/cviqpsnqR5
— Laura Batalla (@lbadam) August 14, 2018
Losing Faith Fast, Istanbul Merchants Throw in Towel on the Lira
Key moments in the decade-long decline of Turkey's lira pic.twitter.com/UnQsEbShnY
— Ece Toksabay (@ecetoksabay) August 13, 2018
ISTANBUL (Reuters) – The Turkish lira sank to a fresh record low of 7.24 to the dollar in early Asia Pacific trade, as investor worries over the state of the economy and deteriorating ties with the United States continued to drag down the currency
As everyone knows, there are two sides to every trade. With more than 80 million Turks substantially poorer following a plunge in their currency, the winners were foreigners behind the velvet ropes at Istanbul’s Istinye Park Mall. They were lining
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