Erdogan has made Turkey the sick man of Europe again
By Joschka Fischer 12:00AM August 31, 2018 30
One of the great geopolitical issues in 19th-century Europe was the so-called Eastern Question. The Ottoman Empire, then known as the “sick man of Europe”, was rapidly disintegrating, and it remained to be seen which European power would succeed it.
More:Erdogan has made Turkey the sick man of Europe again
Friday, August 31, 2018
Thursday, August 30, 2018
Top Turkish bank official resigns as lira drops further
Top Turkish bank official resigns as lira drops further
Amberin Zaman
August 30, 2018
Article Summary A deputy governor of Turkey's Central Bank quit suddenly today as the lira took yet another tumble.
More:Top Turkish bank official resigns as lira drops further
Amberin Zaman
August 30, 2018
Article Summary A deputy governor of Turkey's Central Bank quit suddenly today as the lira took yet another tumble.
More:Top Turkish bank official resigns as lira drops further
Here’s how many arrests Turkey has made after its coup crackdown - National | Globalnews.ca
Here’s how many arrests Turkey has made after its coup crackdown
By Staff The Associated Press
Turkey blamed military officers loyal to a U.S.-based Muslim cleric Fethullah Gulen for a failed military coup attempt on July 15, 2016 and declared a state of emergency five days later to clampdown on a vast network of alleged Gulen supporters in the military and other state institutions. The state of emergency led to mass arrests and purges.
More:Here’s how many arrests Turkey has made after its coup crackdown - National | Globalnews.ca
By Staff The Associated Press
Turkey blamed military officers loyal to a U.S.-based Muslim cleric Fethullah Gulen for a failed military coup attempt on July 15, 2016 and declared a state of emergency five days later to clampdown on a vast network of alleged Gulen supporters in the military and other state institutions. The state of emergency led to mass arrests and purges.
More:Here’s how many arrests Turkey has made after its coup crackdown - National | Globalnews.ca
To Go Forward, Turkey Must Look Back - Bloomberg
To Go Forward, Turkey Must Look Back
Ankara, struggling with an economy gone wrong, can learn from the things it once did right.
More:To Go Forward, Turkey Must Look Back - Bloomberg
Ankara, struggling with an economy gone wrong, can learn from the things it once did right.
More:To Go Forward, Turkey Must Look Back - Bloomberg
Germany cuts funding to largest Turkish-Islamic organization DITIB | News | DW | 30.08.2018
Germany cuts funding to largest Turkish-Islamic organization DITIB
The German federal government had provided funds to DITIB for counter-extremism and refugee aid programs. The Turkish-Islamic group has been under fire over a number of scandals.
More:Germany cuts funding to largest Turkish-Islamic organization DITIB | News | DW | 30.08.2018
The German federal government had provided funds to DITIB for counter-extremism and refugee aid programs. The Turkish-Islamic group has been under fire over a number of scandals.
More:Germany cuts funding to largest Turkish-Islamic organization DITIB | News | DW | 30.08.2018
Turkey might not like the West, but needs it
Turkey might not like the West, but needs it
Kemal Kirişci
Thursday, August 30, 2018
When President Trump sanctioned two Turkish ministers—an unprecedented measure involving a NATO ally—and announced the doubling of trade tariffs early in August, he further aggravated the steadily deteriorating U.S.-Turkish relationship. The moves came after the Turkish government refused to allow Pastor Andrew Brunson, who is facing spurious espionage and terrorism charges, to return to the United States. Turkey’s currency, already fragile, went into a tailspin, and has lost nearly half its value compared to the beginning of the year.
More:Turkey might not like the West, but needs it
Kemal Kirişci
Thursday, August 30, 2018
When President Trump sanctioned two Turkish ministers—an unprecedented measure involving a NATO ally—and announced the doubling of trade tariffs early in August, he further aggravated the steadily deteriorating U.S.-Turkish relationship. The moves came after the Turkish government refused to allow Pastor Andrew Brunson, who is facing spurious espionage and terrorism charges, to return to the United States. Turkey’s currency, already fragile, went into a tailspin, and has lost nearly half its value compared to the beginning of the year.
More:Turkey might not like the West, but needs it
US pastor held in Turkey prepared to go to European court: lawyer | Turkey News | Al Jazeera
US pastor held in Turkey prepared to go to European court: lawyer
Case to be taken to European Court of Human Rights if Andrew Brunson is not released by Turkish judiciary, lawyer says.
More:US pastor held in Turkey prepared to go to European court: lawyer | Turkey News | Al Jazeera
Case to be taken to European Court of Human Rights if Andrew Brunson is not released by Turkish judiciary, lawyer says.
More:US pastor held in Turkey prepared to go to European court: lawyer | Turkey News | Al Jazeera
Turkish leaders agree to death penalty for 'terrorists' and child killers: Report | Middle East Eye
Turkish leaders agree to death penalty for 'terrorists' and child killers: Report
Reinstatement of capital punishment could spell the death of Turkey's application to join the European Union
More:Turkish leaders agree to death penalty for 'terrorists' and child killers: Report | Middle East Eye
Reinstatement of capital punishment could spell the death of Turkey's application to join the European Union
More:Turkish leaders agree to death penalty for 'terrorists' and child killers: Report | Middle East Eye
Turkey’s economy suffers from a war of personalities | GulfNews.com
Turkey’s economy suffers from a war of personalities
Recent injections of funds are far from adequate to turn the tide Published: 07:37 August 30, 2018 Gulf News By John Defterios, Special to Gulf News At the Ayakli borsa — or standing currency exchange — in old Istanbul, seasoned traders still ply their trade on their feet as they have for centuries. They say they have not seen such volatility and volume since 2001, when Turkey faced its last major currency crisis.
More:Turkey’s economy suffers from a war of personalities | GulfNews.com
Recent injections of funds are far from adequate to turn the tide Published: 07:37 August 30, 2018 Gulf News By John Defterios, Special to Gulf News At the Ayakli borsa — or standing currency exchange — in old Istanbul, seasoned traders still ply their trade on their feet as they have for centuries. They say they have not seen such volatility and volume since 2001, when Turkey faced its last major currency crisis.
More:Turkey’s economy suffers from a war of personalities | GulfNews.com
The Myth of Erdogan’s Power – Foreign Policy
The Myth of Erdogan’s Power
Far from a sultan, the Turkish president is hemmed in by the nationalists who back him—and they don’t want him to get too close to Russia.
More:The Myth of Erdogan’s Power – Foreign Policy
Far from a sultan, the Turkish president is hemmed in by the nationalists who back him—and they don’t want him to get too close to Russia.
More:The Myth of Erdogan’s Power – Foreign Policy
Wednesday, August 29, 2018
The Rise of Democracy in Turkey Threatens President Erdoğan's Rule - Pacific Standard
The Rise of Democracy in Turkey Threatens President Erdoğan's Rule
While most of the attention is focused on the growing economic crisis in the country, Recep Erdoğan must deal with another serious problem: democratic dissent.
More:The Rise of Democracy in Turkey Threatens President Erdoğan's Rule - Pacific Standard
While most of the attention is focused on the growing economic crisis in the country, Recep Erdoğan must deal with another serious problem: democratic dissent.
More:The Rise of Democracy in Turkey Threatens President Erdoğan's Rule - Pacific Standard
Turkish Lira Weakens, Moody's Delivers More Downgrades
Turkish Lira Weakens, Moody's Delivers More Downgrades
August 28, 2018 5:30 PM
Reuters
ISTANBUL —
The Turkish lira weakened on Tuesday as investors weighed up Turkey's efforts to manage its rift with the United States after Finance Minister Berat Albayrak said U.S. trade sanctions against Ankara could destabilize the Middle East.
More:Turkish Lira Weakens, Moody's Delivers More Downgrades
August 28, 2018 5:30 PM
Reuters
ISTANBUL —
The Turkish lira weakened on Tuesday as investors weighed up Turkey's efforts to manage its rift with the United States after Finance Minister Berat Albayrak said U.S. trade sanctions against Ankara could destabilize the Middle East.
More:Turkish Lira Weakens, Moody's Delivers More Downgrades
Erdogan Wants to Make Turkey’s Currency Crisis About Geopolitics, Not Economics
Erdogan Wants to Make Turkey’s Currency Crisis About Geopolitics, Not Economics
Iyad Dakka Tuesday, Aug. 28, 2018
Turkey is enduring its most severe economic crisis since the Justice and Development Party, or AKP, took power after sweeping elections in 2002. With a nearly 40 percent decline in the value of the Turkish lira this year, Turkey’s foreign exchange troubles risk plunging the heavily leveraged Turkish economy, and with it potentially the global economy, into a tailspin. On one hand, it’s a typical post-Cold War financial crisis in an emerging market whose economic prospects have always been volatile, with high risks and high rewards. On the other hand, the lira’s collapse is the product of a constellation of geopolitical factors that threaten to rewrite the post-Cold War alliance structures on a global scale, with Turkey at the center of it all.
More:Erdogan Wants to Make Turkey’s Currency Crisis About Geopolitics, Not Economics
Iyad Dakka Tuesday, Aug. 28, 2018
Turkey is enduring its most severe economic crisis since the Justice and Development Party, or AKP, took power after sweeping elections in 2002. With a nearly 40 percent decline in the value of the Turkish lira this year, Turkey’s foreign exchange troubles risk plunging the heavily leveraged Turkish economy, and with it potentially the global economy, into a tailspin. On one hand, it’s a typical post-Cold War financial crisis in an emerging market whose economic prospects have always been volatile, with high risks and high rewards. On the other hand, the lira’s collapse is the product of a constellation of geopolitical factors that threaten to rewrite the post-Cold War alliance structures on a global scale, with Turkey at the center of it all.
More:Erdogan Wants to Make Turkey’s Currency Crisis About Geopolitics, Not Economics
As Turkey Teeters, Germany Considers Offering a Financial Lifeline - WSJ
As Turkey Teeters, Germany Considers Offering a Financial Lifeline
Berlin fears a meltdown of the Turkish economy could spill over into Europe with dire consequences
More:As Turkey Teeters, Germany Considers Offering a Financial Lifeline - WSJ
Berlin fears a meltdown of the Turkish economy could spill over into Europe with dire consequences
More:As Turkey Teeters, Germany Considers Offering a Financial Lifeline - WSJ
Turkish Lira Weakens Against Dollar, Minister Warns on Sanctions | Jewish & Israel News Algemeiner.com
Turkish Lira Weakens Against Dollar, Minister Warns on Sanctions
avatar by Reuters and Algemeiner Staff
The Turkish lira weakened on Tuesday as investors weighed up Turkey’s efforts to manage its rift with the United States after Finance Minister Berat Albayrak warned US trade sanctions against Ankara could destabilize the Middle East.
More:Turkish Lira Weakens Against Dollar, Minister Warns on Sanctions | Jewish & Israel News Algemeiner.com
avatar by Reuters and Algemeiner Staff
The Turkish lira weakened on Tuesday as investors weighed up Turkey’s efforts to manage its rift with the United States after Finance Minister Berat Albayrak warned US trade sanctions against Ankara could destabilize the Middle East.
More:Turkish Lira Weakens Against Dollar, Minister Warns on Sanctions | Jewish & Israel News Algemeiner.com
Tuesday, August 28, 2018
Turkey Cracks Down on Mothers of Missing Dissidents
Turkey Cracks Down on Mothers of Missing Dissidents
Last Updated: August 28, 2018 4:43 AM
Dorian Jones
ISTANBUL —
Turkish Interior Minister Suleyman Soylu is defending the government's crackdown Saturday on a vigil by mothers protesting the forced disappearances and political murders of loved ones during the 1980s and 1990s.
More:Turkey Cracks Down on Mothers of Missing Dissidents
Last Updated: August 28, 2018 4:43 AM
Dorian Jones
ISTANBUL —
Turkish Interior Minister Suleyman Soylu is defending the government's crackdown Saturday on a vigil by mothers protesting the forced disappearances and political murders of loved ones during the 1980s and 1990s.
More:Turkey Cracks Down on Mothers of Missing Dissidents
Turkey's Erdogan to Meet Russia, Iran Leaders as U.S. Ties Sour - BloombergQuint
Turkey's Erdogan to Meet Russia, Iran Leaders as U.S. Ties Sour
Selcan Hacaoglu
(Bloomberg) -- Turkey’s President Recep Tayyip Erdogan will meet with Russian and Iranian leaders in Iran next week to discuss developments in Syria and how to deal with radical Islamic groups who control the last major opposition holdout there.
More:Turkey's Erdogan to Meet Russia, Iran Leaders as U.S. Ties Sour - BloombergQuint
Selcan Hacaoglu
(Bloomberg) -- Turkey’s President Recep Tayyip Erdogan will meet with Russian and Iranian leaders in Iran next week to discuss developments in Syria and how to deal with radical Islamic groups who control the last major opposition holdout there.
More:Turkey's Erdogan to Meet Russia, Iran Leaders as U.S. Ties Sour - BloombergQuint
Monday, August 27, 2018
Turkey turns to Britain for help to stop Trump trade war as lira plunges against dollar | World | News | Express.co.uk
Turkey turns to Britain for help to stop Trump trade war as lira plunges against dollar
BRITISH and Turkish finance chiefs are set to meet imminently with European opposition to Donald Trump’s staunch global trade strategy intensifying.
More:Turkey turns to Britain for help to stop Trump trade war as lira plunges against dollar | World | News | Express.co.uk
BRITISH and Turkish finance chiefs are set to meet imminently with European opposition to Donald Trump’s staunch global trade strategy intensifying.
More:Turkey turns to Britain for help to stop Trump trade war as lira plunges against dollar | World | News | Express.co.uk
Turkey's economic pain felt as far as Tennessee | Reuters
Turkey's economic pain felt as far as Tennessee
Megan Davies, Trevor Hunnicutt
NEW YORK (Reuters) - Turkey’s currency crisis has roiled emerging-markets investors far and wide, including the U.S. state of Tennessee, where the state’s retirement system is the biggest institutional holder in a Turkey exchange-traded fund (ETF).
More:Turkey's economic pain felt as far as Tennessee | Reuters
Megan Davies, Trevor Hunnicutt
NEW YORK (Reuters) - Turkey’s currency crisis has roiled emerging-markets investors far and wide, including the U.S. state of Tennessee, where the state’s retirement system is the biggest institutional holder in a Turkey exchange-traded fund (ETF).
More:Turkey's economic pain felt as far as Tennessee | Reuters
Congress dangles Turkey trade deal as carrot to Trump’s stick
Congress dangles Turkey trade deal as carrot to Trump’s stick
Bryant Harris August 26, 2018
Article Summary
Lawmakers are floating a free trade agreement with Turkey as the president doubles steel and aluminum tariffs on Ankara for its ongoing detention of a US pastor.
More:Congress dangles Turkey trade deal as carrot to Trump’s stick
Bryant Harris August 26, 2018
Article Summary
Lawmakers are floating a free trade agreement with Turkey as the president doubles steel and aluminum tariffs on Ankara for its ongoing detention of a US pastor.
More:Congress dangles Turkey trade deal as carrot to Trump’s stick
Turkish currency isn't the real problem for Erdoğan, it's democracy - SFChronicle.com
Turkish currency isn't the real problem for Erdoğan, it's democracy
Gary M. Grossman, Arizona State University
Aug. 27, 2018
Turkish President Recep Tayyip Erdoğan is presiding over the damaging loss of value of the Turkish currency, the lira, against foreign currencies. It’s the most severe economic crisis the country has faced since he assumed power.
More:Turkish currency isn't the real problem for Erdoğan, it's democracy - SFChronicle.com
Gary M. Grossman, Arizona State University
Aug. 27, 2018
Turkish President Recep Tayyip Erdoğan is presiding over the damaging loss of value of the Turkish currency, the lira, against foreign currencies. It’s the most severe economic crisis the country has faced since he assumed power.
More:Turkish currency isn't the real problem for Erdoğan, it's democracy - SFChronicle.com
Global markets continue the bull-run, but have they forgotten Turkey?
Global markets continue the bull-run, but have they forgotten Turkey?
Markets have been uncomfortable this year for hedge funds, fund managers, retail investors… only a handful appear to be enjoying the ride.
Uncertainty is elevated, even if it's not reflected in the the CBOE Volatility Index (VIX), the so-called fear gauge.
More:Global markets continue the bull-run, but have they forgotten Turkey?
Markets have been uncomfortable this year for hedge funds, fund managers, retail investors… only a handful appear to be enjoying the ride.
Uncertainty is elevated, even if it's not reflected in the the CBOE Volatility Index (VIX), the so-called fear gauge.
More:Global markets continue the bull-run, but have they forgotten Turkey?
Sunday, August 26, 2018
A Turkish headache for the West - BBC News
A Turkish headache for the West
Jonathan Marcus
Turkey matters to the West but the question now being asked in Washington and in several European capitals is "just how much?"
Some US commentators go even further, wondering if Turkey should rightly be described as a strategic ally of the United States at all.
More:A Turkish headache for the West - BBC News
Jonathan Marcus
Turkey matters to the West but the question now being asked in Washington and in several European capitals is "just how much?"
Some US commentators go even further, wondering if Turkey should rightly be described as a strategic ally of the United States at all.
More:A Turkish headache for the West - BBC News
Allianz: Three possible scenarios for Turkey - The Corner
Allianz: Three possible scenarios for Turkey
In the opinion of Neil Dwane, global strategist at Allianz Global Investors, Turkey, confronted by growing structural challenges, especially the latest Lira crisis, needs a stronger response based in stricter fiscal and monetary policy, and a less confrontational foreign policy:
More:Allianz: Three possible scenarios for Turkey - The Corner
In the opinion of Neil Dwane, global strategist at Allianz Global Investors, Turkey, confronted by growing structural challenges, especially the latest Lira crisis, needs a stronger response based in stricter fiscal and monetary policy, and a less confrontational foreign policy:
More:Allianz: Three possible scenarios for Turkey - The Corner
Saturday, August 25, 2018
The economic costs of Erdogan | Jordan Times
The economic costs of Erdogan
Aug 25,2018 - Last updated at Aug 25,2018
By Timur Kuran and Dani Rodrik
DURHAM/CAMBRIDGE — Turkey’s political model has long lost its luster, but a growing diplomatic crisis with the equally erratic administration of US President Donald Trump has now pushed the country’s economy into a full-fledged currency crisis. The Turkish lira has lost nearly half of its value over the last 12 months. And, because Turkish banks and firms have borrowed heavily in foreign currency, the lira’s freefall threatens to bring much of the private sector down with it.
More:The economic costs of Erdogan | Jordan Times
Aug 25,2018 - Last updated at Aug 25,2018
By Timur Kuran and Dani Rodrik
DURHAM/CAMBRIDGE — Turkey’s political model has long lost its luster, but a growing diplomatic crisis with the equally erratic administration of US President Donald Trump has now pushed the country’s economy into a full-fledged currency crisis. The Turkish lira has lost nearly half of its value over the last 12 months. And, because Turkish banks and firms have borrowed heavily in foreign currency, the lira’s freefall threatens to bring much of the private sector down with it.
More:The economic costs of Erdogan | Jordan Times
Friday, August 24, 2018
The Economic Costs of Erdoğan by Timur Kuran & Dani Rodrik - Project Syndicate
The Economic Costs of Erdoğan
Aug 24, 2018 Timur Kuran , Dani Rodrik
For more than a decade, financial markets gave Recep Tayyip Erdoğan the benefit of the doubt and supplied the Turkish economy with easy credit. Such debt-fueled growth almost always ends badly, and now it has.
More:The Economic Costs of Erdoğan by Timur Kuran & Dani Rodrik - Project Syndicate
Aug 24, 2018 Timur Kuran , Dani Rodrik
For more than a decade, financial markets gave Recep Tayyip Erdoğan the benefit of the doubt and supplied the Turkish economy with easy credit. Such debt-fueled growth almost always ends badly, and now it has.
More:The Economic Costs of Erdoğan by Timur Kuran & Dani Rodrik - Project Syndicate
Turkey Needs to Get Cracking to Avoid a Meltdown: Economy Week Ahead - Bloomberg
Turkey Needs to Get Cracking to Avoid a Meltdown: Economy Week Ahead
By Jamie Murray
August 24, 2018, 11:21 AM GMT+2 Updated on August 24, 2018, 6:28 PM GMT+2
The devil makes work for idle traders – a paucity of central bank meetings and major data releases means there will be plenty of time for investors to think about emerging markets next week. And so they should. Turkey’s economy is threatening a meltdown, Russia could be slammed with fresh sanctions and South Africa has found itself in President Donald Trump’s crosshairs. Not forgetting that the trade skirmish between the U.S. and China will rumble on, too.
More:Turkey Needs to Get Cracking to Avoid a Meltdown: Economy Week Ahead - Bloomberg
By Jamie Murray
August 24, 2018, 11:21 AM GMT+2 Updated on August 24, 2018, 6:28 PM GMT+2
The devil makes work for idle traders – a paucity of central bank meetings and major data releases means there will be plenty of time for investors to think about emerging markets next week. And so they should. Turkey’s economy is threatening a meltdown, Russia could be slammed with fresh sanctions and South Africa has found itself in President Donald Trump’s crosshairs. Not forgetting that the trade skirmish between the U.S. and China will rumble on, too.
More:Turkey Needs to Get Cracking to Avoid a Meltdown: Economy Week Ahead - Bloomberg
Germany Cosies Up to Erdogan To Prevent Economic Collapse - SPIEGEL ONLINE
Berlin Softens Tone on Turkey
Germany has gone soft on Turkish President Recep Tayyip Erdogan since he became the subject of attacks by U.S. President Donald Trump. Leaders in Berlin are concerned that any instability might spread to Europe -- and they want to send a message to the American government.
More:Germany Cosies Up to Erdogan To Prevent Economic Collapse - SPIEGEL ONLINE
Germany has gone soft on Turkish President Recep Tayyip Erdogan since he became the subject of attacks by U.S. President Donald Trump. Leaders in Berlin are concerned that any instability might spread to Europe -- and they want to send a message to the American government.
More:Germany Cosies Up to Erdogan To Prevent Economic Collapse - SPIEGEL ONLINE
Apparel and textile sourcing in Turkey has ups and downs
How Turkey’s political and economic outlook can affect apparel companies
Turkey boasts a strong textile and garment manufacturing sector, one that can be attractive for companies seeking new sourcing locations. But serious political and economic factors should be taken into consideration when considering integrating Turkish manufacturers into the supply chain.
More:Apparel and textile sourcing in Turkey has ups and downs
Turkey boasts a strong textile and garment manufacturing sector, one that can be attractive for companies seeking new sourcing locations. But serious political and economic factors should be taken into consideration when considering integrating Turkish manufacturers into the supply chain.
More:Apparel and textile sourcing in Turkey has ups and downs
EU and Turkey on same side against US
EU and Turkey on same side against US
By Bugra Susler London, Today, 08:58
The Turkey-US trade spat has led to EU leaders backing Turkey against the US administration's policies. This not only shows the extent of economic interdependence between Europe and Turkey, but also signals the development of a common stance in the face of a bullying trade partner.
More:EU and Turkey on same side against US
By Bugra Susler London, Today, 08:58
The Turkey-US trade spat has led to EU leaders backing Turkey against the US administration's policies. This not only shows the extent of economic interdependence between Europe and Turkey, but also signals the development of a common stance in the face of a bullying trade partner.
More:EU and Turkey on same side against US
Thursday, August 23, 2018
American pastor more excuse than reason for US-Turkey staredown
American pastor more excuse than reason for US-Turkey staredown
Amberin Zaman August 23, 2018
Article Summary
While the US administration continues to demand Ankara free pastor Andrew Brunson, skeptical analysts are debating whether the motivations for this are votes in the upcoming midterm elections or a reset with a Turkey whose interests no longer align with the United States'.
More:American pastor more excuse than reason for US-Turkey staredown
Amberin Zaman August 23, 2018
Article Summary
While the US administration continues to demand Ankara free pastor Andrew Brunson, skeptical analysts are debating whether the motivations for this are votes in the upcoming midterm elections or a reset with a Turkey whose interests no longer align with the United States'.
More:American pastor more excuse than reason for US-Turkey staredown
Will Turkey’s currency crisis hurt Erdogan? Here’s what a new poll shows. - The Washington Post
Will Turkey’s currency crisis hurt Erdogan? Here’s what a new poll shows.
By David A. Steinberg
August 23 at 5:00 AM
Turkey’s currency, the lira, has plummeted in value this month, accelerating its poor performance throughout the year. So far in 2018, the lira has lost over 60 percent of its value, which is its largest depreciation since 2001.
More:Will Turkey’s currency crisis hurt Erdogan? Here’s what a new poll shows. - The Washington Post
By David A. Steinberg
August 23 at 5:00 AM
Turkey’s currency, the lira, has plummeted in value this month, accelerating its poor performance throughout the year. So far in 2018, the lira has lost over 60 percent of its value, which is its largest depreciation since 2001.
More:Will Turkey’s currency crisis hurt Erdogan? Here’s what a new poll shows. - The Washington Post
How Turkey’s lira crisis was written in Istanbul's skyline | Cities | The Guardian
How Turkey’s lira crisis was written in Istanbul's skyline
Cities
Those observing Istanbul’s construction boom will not have been surprised by last week’s currency collapse – it’s all based on debt
Pesha Magid and Umar Farooq in Istanbul
Thu 23 Aug 2018 07.00 BST
From a distance, Esenyurt, a newly built up neighbourhood on the edges of Istanbul, looks a bit like Hong Kong or Dubai, with a bustling downtown of shiny skyscrapers. Upon closer examination, however, you notice that tower after tower stands incomplete, lacking windows or furnishings; others are only half-occupied, their windows dark after nightfall.
More:How Turkey’s lira crisis was written in Istanbul's skyline | Cities | The Guardian
Cities
Those observing Istanbul’s construction boom will not have been surprised by last week’s currency collapse – it’s all based on debt
Pesha Magid and Umar Farooq in Istanbul
Thu 23 Aug 2018 07.00 BST
From a distance, Esenyurt, a newly built up neighbourhood on the edges of Istanbul, looks a bit like Hong Kong or Dubai, with a bustling downtown of shiny skyscrapers. Upon closer examination, however, you notice that tower after tower stands incomplete, lacking windows or furnishings; others are only half-occupied, their windows dark after nightfall.
More:How Turkey’s lira crisis was written in Istanbul's skyline | Cities | The Guardian
How Turkey Dumbed Itself Down – Foreign Policy
How Turkey Dumbed Itself Down
Erdogan used to rely on Turkey’s best and brightest—until he replaced them with its worst and dimmest.
More:How Turkey Dumbed Itself Down – Foreign Policy
Erdogan used to rely on Turkey’s best and brightest—until he replaced them with its worst and dimmest.
More:How Turkey Dumbed Itself Down – Foreign Policy
US feud helps Erdogan deflect blame for Turkey's economic woes
US feud helps Erdogan deflect blame for Turkey's economic woes
22 August 2018 - 12:19 By AFP
President Recep Tayyip Erdogan is exploiting a bitter row with the United States to pin the blame for Turkey's increasingly acute economic troubles on an external enemy rather than problems at home, analysts say.
More:US feud helps Erdogan deflect blame for Turkey's economic woes
22 August 2018 - 12:19 By AFP
President Recep Tayyip Erdogan is exploiting a bitter row with the United States to pin the blame for Turkey's increasingly acute economic troubles on an external enemy rather than problems at home, analysts say.
More:US feud helps Erdogan deflect blame for Turkey's economic woes
The Turkey-China Debt Nexus - The Globalist
The Turkey-China Debt Nexus
Turkey’s financial crisis raises questions about China’s debt-driven development model.
More:The Turkey-China Debt Nexus - The Globalist
Turkey’s financial crisis raises questions about China’s debt-driven development model.
More:The Turkey-China Debt Nexus - The Globalist
Wednesday, August 22, 2018
Turkey’s Losing Economic War – Foreign Policy
Turkey’s Losing Economic War
Ankara blames Washington for its financial troubles, but it is fighting the wrong enemy.
More:Turkey’s Losing Economic War – Foreign Policy
Ankara blames Washington for its financial troubles, but it is fighting the wrong enemy.
More:Turkey’s Losing Economic War – Foreign Policy
Tuesday, August 21, 2018
Germany’s Way with Turkey - Carnegie Europe - Carnegie Endowment for International Peace
Germany’s Way with Turkey
Judy Dempsey
The Trump administration’s sanctions on Turkey just might be the catalyst to shift Europe’s relations with Ankara.
August 21, 2018
Diplomacy is not one of U.S. President Donald Trump’s strong suits. Rather, it is his use of sanctions, believing that they can change a leader’s behavior.
More:Germany’s Way with Turkey - Carnegie Europe - Carnegie Endowment for International Peace
Judy Dempsey
The Trump administration’s sanctions on Turkey just might be the catalyst to shift Europe’s relations with Ankara.
August 21, 2018
Diplomacy is not one of U.S. President Donald Trump’s strong suits. Rather, it is his use of sanctions, believing that they can change a leader’s behavior.
More:Germany’s Way with Turkey - Carnegie Europe - Carnegie Endowment for International Peace
Can Qatar and Germany save Turkey’s economy?
Can Qatar and Germany save Turkey’s economy?
Cengiz Candar August 20, 2018
Article Summary
The Turkish lira was up a few points after Qatar's leaders pledged to help Turkey and German Chancellor Angela Merkel made some positive statements, but will this be enough to get Turkey through its currency crisis?
More:Can Qatar and Germany save Turkey’s economy?
Cengiz Candar August 20, 2018
Article Summary
The Turkish lira was up a few points after Qatar's leaders pledged to help Turkey and German Chancellor Angela Merkel made some positive statements, but will this be enough to get Turkey through its currency crisis?
More:Can Qatar and Germany save Turkey’s economy?
Erdogan’s search for new allies begins with allowing a German journalist to finally leave Turkey - The Washington Post
Erdogan’s search for new allies begins with allowing a German journalist to finally leave Turkey
BERLIN — Officially, Europe, the United States and Turkey all consider themselves to be allies, woven together by their NATO membership.
More:Erdogan’s search for new allies begins with allowing a German journalist to finally leave Turkey - The Washington Post
BERLIN — Officially, Europe, the United States and Turkey all consider themselves to be allies, woven together by their NATO membership.
More:Erdogan’s search for new allies begins with allowing a German journalist to finally leave Turkey - The Washington Post
Trump and Erdogan: Colliding egos - Newspaper - DAWN.COM
Trump and Erdogan: Colliding egos
Irfan HusainUpdated August 20, 2018
WHAT happens when two headstrong leaders, both enjoying the support of their nationalistic and religious base, clash? In most cases, the leader of the weaker country is left to lick his wounds. This is what’s happening in the ongoing face-off between Trump and Erdogan. When leaders put pride before common sense, it’s their people who suffer.
More:Trump and Erdogan: Colliding egos - Newspaper - DAWN.COM
Irfan HusainUpdated August 20, 2018
WHAT happens when two headstrong leaders, both enjoying the support of their nationalistic and religious base, clash? In most cases, the leader of the weaker country is left to lick his wounds. This is what’s happening in the ongoing face-off between Trump and Erdogan. When leaders put pride before common sense, it’s their people who suffer.
More:Trump and Erdogan: Colliding egos - Newspaper - DAWN.COM
Here's Who Might Save Turkey From Trump
Here's Who Might Save Turkey From Trump
Turkey: Welcome to Trump’s trade war.
Though this latest volume of trade tariffs and sanctions has nothing to do with saving American manufacturing and everything to do with the release of an American evangelical the Turks believe wanted to derail their government, Trump seems willing to dig in. Turkish leader Recep Erdogan only has a few players who can save him. One has already thrown him a lifeline. He needs more.
More:Here's Who Might Save Turkey From Trump
Turkey: Welcome to Trump’s trade war.
Though this latest volume of trade tariffs and sanctions has nothing to do with saving American manufacturing and everything to do with the release of an American evangelical the Turks believe wanted to derail their government, Trump seems willing to dig in. Turkish leader Recep Erdogan only has a few players who can save him. One has already thrown him a lifeline. He needs more.
More:Here's Who Might Save Turkey From Trump
Framing Turkey’s Financial Vulnerabilites: Some Rhymes with the Asian Crisis, but Not a Repeat | Council on Foreign Relations
Framing Turkey’s Financial Vulnerabilites: Some Rhymes with the Asian Crisis, but Not a Repeat
Turkey has some similarities with the Asian crisis countries back in the 1990s, but also important differences. When emerging-market crisis typologies are updated to reflect the events of 2018, Turkey should enter into the pantheon on its own, not just as a sub-category of “Asian-style” crises.
More:Framing Turkey’s Financial Vulnerabilites: Some Rhymes with the Asian Crisis, but Not a Repeat | Council on Foreign Relations
Turkey has some similarities with the Asian crisis countries back in the 1990s, but also important differences. When emerging-market crisis typologies are updated to reflect the events of 2018, Turkey should enter into the pantheon on its own, not just as a sub-category of “Asian-style” crises.
More:Framing Turkey’s Financial Vulnerabilites: Some Rhymes with the Asian Crisis, but Not a Repeat | Council on Foreign Relations
Evangelicals pulling Trump’s strings in trade spat with Turkey - Daily Sabah
Evangelicals pulling Trump’s strings in trade spat with Turkey
ŞEYMA NAZLI GÜRBÜZ @SeymNazli
ISTANBUL
Influenced by the evangelicals, U.S. President Donald Trump has sacrificed historic relations with Washington's NATO ally, Turkey The last few weeks have marked a feud between Turkey and the U.S., two countries that have been long-term NATO partners, due to an evangelical pastor detained in Turkey on terrorism-linked charges. Despite the strength of the relationship and the longevity of the partnership, the tension between the two countries escalated quickly and has reached a point where the U.S. levied sanctions on Turkey, causing difficulty for the Turkish economy. As the bonds between the countries are worsening day by day, experts have suggested that U.S. President Donald Trump's decisions are mainly being directed by evangelical concerns rather than the result of rational decision-
More:Evangelicals pulling Trump’s strings in trade spat with Turkey - Daily Sabah
ŞEYMA NAZLI GÜRBÜZ @SeymNazli
ISTANBUL
Influenced by the evangelicals, U.S. President Donald Trump has sacrificed historic relations with Washington's NATO ally, Turkey The last few weeks have marked a feud between Turkey and the U.S., two countries that have been long-term NATO partners, due to an evangelical pastor detained in Turkey on terrorism-linked charges. Despite the strength of the relationship and the longevity of the partnership, the tension between the two countries escalated quickly and has reached a point where the U.S. levied sanctions on Turkey, causing difficulty for the Turkish economy. As the bonds between the countries are worsening day by day, experts have suggested that U.S. President Donald Trump's decisions are mainly being directed by evangelical concerns rather than the result of rational decision-
More:Evangelicals pulling Trump’s strings in trade spat with Turkey - Daily Sabah
EU news: Brussels looking to team up with Turkey to FIGHT BACK against Trump | World | News | Express.co.uk
EU to bring Turkey CLOSER to bloc to FIGHT BACK against Trump’s economic aggression
THE European Union is confident that Turkey’s escalating row with the US will bring it closer to Brussels and strengthen its arm in fighting back against Donald Trump’s economic aggression.
More:EU news: Brussels looking to team up with Turkey to FIGHT BACK against Trump | World | News | Express.co.uk
THE European Union is confident that Turkey’s escalating row with the US will bring it closer to Brussels and strengthen its arm in fighting back against Donald Trump’s economic aggression.
More:EU news: Brussels looking to team up with Turkey to FIGHT BACK against Trump | World | News | Express.co.uk
Monday, August 20, 2018
EU news: Brussels looking to team up with Turkey to FIGHT BACK against Trump | World | News | Express.co.uk
EU to bring Turkey CLOSER to bloc to FIGHT BACK against Trump’s economic aggression
THE European Union is confident that Turkey’s escalating row with the US will bring it closer to Brussels and strengthen its arm in fighting back against Donald Trump’s economic aggression.
More:EU news: Brussels looking to team up with Turkey to FIGHT BACK against Trump | World | News | Express.co.uk
THE European Union is confident that Turkey’s escalating row with the US will bring it closer to Brussels and strengthen its arm in fighting back against Donald Trump’s economic aggression.
More:EU news: Brussels looking to team up with Turkey to FIGHT BACK against Trump | World | News | Express.co.uk
Turkey lifts travel ban on German journalist | Reuters
Turkey lifts travel ban on German journalist
Reuters Staff
ISTANBUL (Reuters) - Turkey has reversed its decision to ban a German journalist from leaving the country while she awaits trial on charges of being a member of a terrorist organization, the journalist said on her Twitter account on Monday.
More:Turkey lifts travel ban on German journalist | Reuters
Reuters Staff
ISTANBUL (Reuters) - Turkey has reversed its decision to ban a German journalist from leaving the country while she awaits trial on charges of being a member of a terrorist organization, the journalist said on her Twitter account on Monday.
More:Turkey lifts travel ban on German journalist | Reuters
WSJ: White House rejects Turkey's offer tying pastor's release to bank's fine relief - CNNPolitics
White House rejects Turkey's offer for pastor's release: report
By Caroline Kelly, CNN
ADANA, TURKEY - JUNE 01: Leader of Turkey's Iyi (Good) Party and presidential candidate, Meral Aksener speaks to supporters at a rally on June 1, 2018 in Adana, Turkey. Meral Aksener and party members campaigned in Hatay, Adana and surrounding areas ahead of the June 24, 2018 parliamentary and presidential elections.
More:WSJ: White House rejects Turkey's offer tying pastor's release to bank's fine relief - CNNPolitics
By Caroline Kelly, CNN
ADANA, TURKEY - JUNE 01: Leader of Turkey's Iyi (Good) Party and presidential candidate, Meral Aksener speaks to supporters at a rally on June 1, 2018 in Adana, Turkey. Meral Aksener and party members campaigned in Hatay, Adana and surrounding areas ahead of the June 24, 2018 parliamentary and presidential elections.
More:WSJ: White House rejects Turkey's offer tying pastor's release to bank's fine relief - CNNPolitics
Why Erdogan's so quiet about Turkish expansion in Africa
Why Erdogan's so quiet about Turkish expansion in Africa
Pinar Tremblay August 20, 2018
Article Summary
It seems out of character for Turkish President Recep Tayyip Erdogan to be so tight-lipped about Turkey's growing investments and influence in Africa, but he's certain to have a reason.
More:Why Erdogan's so quiet about Turkish expansion in Africa
Pinar Tremblay August 20, 2018
Article Summary
It seems out of character for Turkish President Recep Tayyip Erdogan to be so tight-lipped about Turkey's growing investments and influence in Africa, but he's certain to have a reason.
More:Why Erdogan's so quiet about Turkish expansion in Africa
Drive-by shooting targets US Embassy in Turkey
Drive-by shooting targets US Embassy in Turkey
Amberin Zaman August 20, 2018
Article Summary This morning's shooting attack on the US Embassy in Ankara is the most serious manifestation of the wave of anti-American hysteria gripping Turkey since sanctions were announced.
More:Drive-by shooting targets US Embassy in Turkey
Amberin Zaman August 20, 2018
Article Summary This morning's shooting attack on the US Embassy in Ankara is the most serious manifestation of the wave of anti-American hysteria gripping Turkey since sanctions were announced.
More:Drive-by shooting targets US Embassy in Turkey
The Turkey-China Debt Nexus - The Globalist
The Turkey-China Debt Nexus
Turkey’s financial crisis raises questions about China’s debt-driven development model.
More:The Turkey-China Debt Nexus - The Globalist
Turkey’s financial crisis raises questions about China’s debt-driven development model.
More:The Turkey-China Debt Nexus - The Globalist
Turkish president Erdogan unbowed in showdown with Trump over pastor Brunson - The Washington Post
Erdogan capitalizes on Trump’s effort to break and isolate Turkey
By Kareem Fahim , Bureau chief
ISTANBUL — When President Trump tried to strong-arm Turkey into releasing a detained American pastor this month, he gambled that a barrage of punishing measures — market- rattling economic sanctions and humiliating public rebukes — would force President Recep Tayyip Erdogan to quickly relent.
More:Turkish president Erdogan unbowed in showdown with Trump over pastor Brunson - The Washington Post
By Kareem Fahim , Bureau chief
ISTANBUL — When President Trump tried to strong-arm Turkey into releasing a detained American pastor this month, he gambled that a barrage of punishing measures — market- rattling economic sanctions and humiliating public rebukes — would force President Recep Tayyip Erdogan to quickly relent.
More:Turkish president Erdogan unbowed in showdown with Trump over pastor Brunson - The Washington Post
Turkey Is and Has Been a Reliable NATO Member - WSJ
Turkey Is and Has Been a Reliable NATO Member
Turkey has been a proud and indispensable ally for over 60 years.
Aug. 19, 2018 1:01 p.m. ET
Bernard-Henri Levy falsely claims that Turkey has been an unreliable ally (“NATO Should Give Turkey the Boot,” op-ed, Aug. 14), but that argument ignores decades of history. Turkey has been a proud and indispensable ally for over 60 years: as a front-line combatant against ISIS and other religious extremists, guardian of NATO’s southern flank and home to the alliance’s second-largest armed forces. Mr. Levy accuses Turkey of spreading Islamist extremism and fomenting violence in Syria, but the opposite is true.
More:Turkey Is and Has Been a Reliable NATO Member - WSJ
Turkey has been a proud and indispensable ally for over 60 years.
Aug. 19, 2018 1:01 p.m. ET
Bernard-Henri Levy falsely claims that Turkey has been an unreliable ally (“NATO Should Give Turkey the Boot,” op-ed, Aug. 14), but that argument ignores decades of history. Turkey has been a proud and indispensable ally for over 60 years: as a front-line combatant against ISIS and other religious extremists, guardian of NATO’s southern flank and home to the alliance’s second-largest armed forces. Mr. Levy accuses Turkey of spreading Islamist extremism and fomenting violence in Syria, but the opposite is true.
More:Turkey Is and Has Been a Reliable NATO Member - WSJ
Sunday, August 19, 2018
Trump will agree to an extradition hearing for Fethullah Gülen - The Weekly Standard | Ahval
Trump will agree to an extradition hearing for Fethullah Gülen - The Weekly Standard
American diplomats are quietly attempting to work out a solution for the dispute between Turkey and the United States and President Donald Trump will agree to an extradition hearing for U.S.-based Turkish cleric Fethullah Gülen, the Weekly Standard said on Saturday.
More:Trump will agree to an extradition hearing for Fethullah Gülen - The Weekly Standard | Ahval
American diplomats are quietly attempting to work out a solution for the dispute between Turkey and the United States and President Donald Trump will agree to an extradition hearing for U.S.-based Turkish cleric Fethullah Gülen, the Weekly Standard said on Saturday.
More:Trump will agree to an extradition hearing for Fethullah Gülen - The Weekly Standard | Ahval
Erdogan challenges economy 'game-players' as currency plummets | Euronews
Erdogan challenges economy 'game-players' as currency plummets
By Louise Miner with Reuters• last updated: 18/08/2018
Now Reading:
A day after two major ratings agencies downgraded Turkey closer to junk status amid a currency crisis, Turkish President Erdogan says he'll challenge those playing "games" on the economy.
More:Erdogan challenges economy 'game-players' as currency plummets | Euronews
By Louise Miner with Reuters• last updated: 18/08/2018
Now Reading:
A day after two major ratings agencies downgraded Turkey closer to junk status amid a currency crisis, Turkish President Erdogan says he'll challenge those playing "games" on the economy.
More:Erdogan challenges economy 'game-players' as currency plummets | Euronews
Turkey’s ''Whatsapp journalism'' destroying press freedom - IPI | Ahval
Turkey’s ''Whatsapp journalism'' destroying press freedom
IPI Turkey’s government departments are increasingly sharing news items with journalists via WhatsApp groups, ready to be “copied and pasted” in the next day’s paper, reported International Press Institute (IPI) website. Media remains under the choke-hold of the Turkey’s ruling Justice and Development Party (AKP) in Turkey which ranked 157 out of 180 countries in April in free speech advocacy group Reporters Without Borders annual report on global press freedom. Around 90 percent of Turkey’s newspaper coverage is pro-government.
More:Turkey’s ''Whatsapp journalism'' destroying press freedom - IPI | Ahval
IPI Turkey’s government departments are increasingly sharing news items with journalists via WhatsApp groups, ready to be “copied and pasted” in the next day’s paper, reported International Press Institute (IPI) website. Media remains under the choke-hold of the Turkey’s ruling Justice and Development Party (AKP) in Turkey which ranked 157 out of 180 countries in April in free speech advocacy group Reporters Without Borders annual report on global press freedom. Around 90 percent of Turkey’s newspaper coverage is pro-government.
More:Turkey’s ''Whatsapp journalism'' destroying press freedom - IPI | Ahval
Saturday, August 18, 2018
Macron news: France pledges to BOOST economic ties with Turkey risking Trump fury | World | News | Express.co.uk
Macron risks Trump fury as France pledges to BOOST economic ties with Turkey
FRENCH President Emmanuel Macron and his Turkish counterpart Recep Tayyip Erdogan stressed in a phone call on Thursday the importance of developing economic and trade ties and boosting bilateral investment, according to a Turkish presidential source.
More:Macron news: France pledges to BOOST economic ties with Turkey risking Trump fury | World | News | Express.co.uk
FRENCH President Emmanuel Macron and his Turkish counterpart Recep Tayyip Erdogan stressed in a phone call on Thursday the importance of developing economic and trade ties and boosting bilateral investment, according to a Turkish presidential source.
More:Macron news: France pledges to BOOST economic ties with Turkey risking Trump fury | World | News | Express.co.uk
The Latest: Moody’s cuts Turkey’s credit rating further
The Latest: Moody’s cuts Turkey’s credit rating further
ANKARA, Turkey — The Latest on Turkey’s currency crisis and diplomatic dispute with the United States (all times local): 1:15 a.m. Ratings agency Moody’s has downgraded Turkey’s credit rating deeper into “junk” status and slapped a “negative” rating on its outlook.
More:The Latest: Moody’s cuts Turkey’s credit rating further
ANKARA, Turkey — The Latest on Turkey’s currency crisis and diplomatic dispute with the United States (all times local): 1:15 a.m. Ratings agency Moody’s has downgraded Turkey’s credit rating deeper into “junk” status and slapped a “negative” rating on its outlook.
More:The Latest: Moody’s cuts Turkey’s credit rating further
How Erdogan’s Push for Endless Growth Brought Turkey to the Brink - WSJ
How Erdogan’s Push for Endless Growth Brought Turkey to the Brink
The president set policy that let his nation gorge on foreign loans, granting his wish of a brawny economic expansion. Now it is paying the price.
More:How Erdogan’s Push for Endless Growth Brought Turkey to the Brink - WSJ
The president set policy that let his nation gorge on foreign loans, granting his wish of a brawny economic expansion. Now it is paying the price.
More:How Erdogan’s Push for Endless Growth Brought Turkey to the Brink - WSJ
Turkey Has Only Itself To Blame For Its Financial Crisis
Turkey Has Only Its President To Blame For Its Financial Crisis
Despite being a long-time NATO member, Turkey under the leadership of President Tayyip Erdogan no longer acts like an ally.
By Helen Raleigh
August 17, 2018
After President Trump tweeted last Friday that he authorized “a doubling of Tariffs on Steel and Aluminum with respect to Turkey,” the Turkish lira fell more than 20 percent against the U.S. dollar during Friday’s trading. Since the value of the lira has already dropped more than 60 percent this year, Turkey is at the brink of a financial disaster.
More:Turkey Has Only Itself To Blame For Its Financial Crisis
Despite being a long-time NATO member, Turkey under the leadership of President Tayyip Erdogan no longer acts like an ally.
By Helen Raleigh
August 17, 2018
After President Trump tweeted last Friday that he authorized “a doubling of Tariffs on Steel and Aluminum with respect to Turkey,” the Turkish lira fell more than 20 percent against the U.S. dollar during Friday’s trading. Since the value of the lira has already dropped more than 60 percent this year, Turkey is at the brink of a financial disaster.
More:Turkey Has Only Itself To Blame For Its Financial Crisis
Friday, August 17, 2018
A US trade war with Turkey over a little known pastor? Don't believe a word of it | The Independent
A US trade war with Turkey over a little known pastor? Don't believe a word of it
Erdogan’s real crimes are buying the Russian S-400 missile system for Turkey, refusing to accept US support for America’s Kurdish YPG allies and allowing Islamist fighters to pour over Turkey’s border into Syria along with a load of weapons, mortars and missiles
More:A US trade war with Turkey over a little known pastor? Don't believe a word of it | The Independent
Erdogan’s real crimes are buying the Russian S-400 missile system for Turkey, refusing to accept US support for America’s Kurdish YPG allies and allowing Islamist fighters to pour over Turkey’s border into Syria along with a load of weapons, mortars and missiles
More:A US trade war with Turkey over a little known pastor? Don't believe a word of it | The Independent
Turkey Currency Crisis 2018: How Long Can Erdogan Maintain Grip on Power Amid Economic Meltdown?
Turkey Currency Crisis 2018: How Long Can Erdogan Maintain Grip on Power Amid Economic Meltdown?
By Cristina Maza On 8/17/18 at 7:00 AM
Turkey’s economic woes didn’t begin with a tweet from President Donald Trump, but they certainly didn't improve after the Republican leader lashed out against his erstwhile ally via social media earlier this month.
More:Turkey Currency Crisis 2018: How Long Can Erdogan Maintain Grip on Power Amid Economic Meltdown?
By Cristina Maza On 8/17/18 at 7:00 AM
Turkey’s economic woes didn’t begin with a tweet from President Donald Trump, but they certainly didn't improve after the Republican leader lashed out against his erstwhile ally via social media earlier this month.
More:Turkey Currency Crisis 2018: How Long Can Erdogan Maintain Grip on Power Amid Economic Meltdown?
Turkey Sanctions: Navigating a Historic Bilateral Crisis - The Washington Institute for Near East Policy
Turkey Sanctions: Navigating a Historic Bilateral Crisis
Amanda Sloat, Max Hoffman, and Steven A. Cook
August 17, 2018
Three experts examine the past drivers and near-term consequences of Washington’s rapidly escalating diplomatic conflict with Ankara.
The detention of U.S. citizen Andrew Brunson was only the latest in a long list of bilateral grievances between Ankara and Washington. On the Turkish side, officials have domestic security concerns about U.S. cooperation with the Syrian Kurdish People’s Defense Units (YPG), an offshoot of Ankara’s domestic nemesis, the Kurdistan Workers Party (PKK).
More:Turkey Sanctions: Navigating a Historic Bilateral Crisis - The Washington Institute for Near East Policy
Amanda Sloat, Max Hoffman, and Steven A. Cook
August 17, 2018
Three experts examine the past drivers and near-term consequences of Washington’s rapidly escalating diplomatic conflict with Ankara.
The detention of U.S. citizen Andrew Brunson was only the latest in a long list of bilateral grievances between Ankara and Washington. On the Turkish side, officials have domestic security concerns about U.S. cooperation with the Syrian Kurdish People’s Defense Units (YPG), an offshoot of Ankara’s domestic nemesis, the Kurdistan Workers Party (PKK).
More:Turkey Sanctions: Navigating a Historic Bilateral Crisis - The Washington Institute for Near East Policy
Opinion: Ankara’s New Identity and Turkey-US Tension - CGTN
Opinion: Ankara’s New Identity and Turkey-US Tension
Ankara’s close relation with Washington has been maintained ever since modern Turkey was established, however the recent US sanctions against Turkey and the “free fall” of Turkish currency, or Lira, might end Turkey’s willingness to continue an alliance with the US.
More:Opinion: Ankara’s New Identity and Turkey-US Tension - CGTN
Ankara’s close relation with Washington has been maintained ever since modern Turkey was established, however the recent US sanctions against Turkey and the “free fall” of Turkish currency, or Lira, might end Turkey’s willingness to continue an alliance with the US.
More:Opinion: Ankara’s New Identity and Turkey-US Tension - CGTN
Turkey′s economic woes reveal complicated Germany ties | Germany| News and in-depth reporting from Berlin and beyond | DW | 16.08.2018
Turkey's economic woes reveal complicated Germany ties
Recent diplomatic tension and harsh rhetoric have pushed Germany and Turkey apart, but the relationship is not completely shattered. On economic issues in particular, the two countries share common goals.
More:Turkey′s economic woes reveal complicated Germany ties | Germany| News and in-depth reporting from Berlin and beyond | DW | 16.08.2018
Recent diplomatic tension and harsh rhetoric have pushed Germany and Turkey apart, but the relationship is not completely shattered. On economic issues in particular, the two countries share common goals.
More:Turkey′s economic woes reveal complicated Germany ties | Germany| News and in-depth reporting from Berlin and beyond | DW | 16.08.2018
In Turkey Economic Crisis, Erdogan Is His Own Megaphone, Blaming the West - The New York Times
In Turkey Economic Crisis, Erdogan Is His Own Megaphone, Blaming the West
By Carlotta Gall
Aug. 17, 2018
ISTANBUL — On the single worst day in the collapse of the Turkish lira, President Recep Tayyip Erdogan arrived late in the evening in a small town, stepped up on the runner of his car, tapped the microphone and delivered, impromptu, one of his most memorable speeches — an appeal to national and religious pride in the face of foreign aggression.
More:In Turkey Economic Crisis, Erdogan Is His Own Megaphone, Blaming the West - The New York Times
By Carlotta Gall
Aug. 17, 2018
ISTANBUL — On the single worst day in the collapse of the Turkish lira, President Recep Tayyip Erdogan arrived late in the evening in a small town, stepped up on the runner of his car, tapped the microphone and delivered, impromptu, one of his most memorable speeches — an appeal to national and religious pride in the face of foreign aggression.
More:In Turkey Economic Crisis, Erdogan Is His Own Megaphone, Blaming the West - The New York Times
Turkey to Manufacture Goods Currently Costing $30Bln in Imports - Minister - Sputnik International
Turkey to Manufacture Goods Currently Costing $30Bln in Imports - Minister
ANKARA (Sputnik) - Turkey intends to enhance the local manufacturing of goods the imports of which currently exceed $30 billion, and will increase financial support for enterprises producing such goods, Turkish Industry and Technology Minister Mustafa Varank said as quoted by Anadolu on Friday.
More:Turkey to Manufacture Goods Currently Costing $30Bln in Imports - Minister - Sputnik International
ANKARA (Sputnik) - Turkey intends to enhance the local manufacturing of goods the imports of which currently exceed $30 billion, and will increase financial support for enterprises producing such goods, Turkish Industry and Technology Minister Mustafa Varank said as quoted by Anadolu on Friday.
More:Turkey to Manufacture Goods Currently Costing $30Bln in Imports - Minister - Sputnik International
Erratic Erdogan edges Turkish economy closer to collapse
Erratic Erdogan edges Turkish economy closer to collapse
There was a time when people thought that a secular, democratic Turkey would eventually accede to the EU and join the club of wealthy liberal states known as the West. There was a time, too, a few years ago, when Turkey was a darling of emerging-market investors.
More:Erratic Erdogan edges Turkish economy closer to collapse
There was a time when people thought that a secular, democratic Turkey would eventually accede to the EU and join the club of wealthy liberal states known as the West. There was a time, too, a few years ago, when Turkey was a darling of emerging-market investors.
More:Erratic Erdogan edges Turkish economy closer to collapse
Getting personal: US, Turkish leaders feud over arrest - ABC News
Getting personal: US, Turkish leaders feud over arrest
By suzan fraser and christopher torchia, associated press
ANKARA, Turkey — Aug 17, 2018
A detained American pastor has become a symbol of a growing rift between Turkey and the United States, but problems in the Cold War-era alliance, as well as Turkey's own financial crisis, are unlikely to dissipate even if he is released and Washington eases economic penalties.
More:Getting personal: US, Turkish leaders feud over arrest - ABC News
By suzan fraser and christopher torchia, associated press
ANKARA, Turkey — Aug 17, 2018
A detained American pastor has become a symbol of a growing rift between Turkey and the United States, but problems in the Cold War-era alliance, as well as Turkey's own financial crisis, are unlikely to dissipate even if he is released and Washington eases economic penalties.
More:Getting personal: US, Turkish leaders feud over arrest - ABC News
EU needs to show solidarity with Turkey
EU needs to show solidarity with Turkey
Vincent Boland
On August 17th, 1999, an earthquake struck the city of Izmit, in western Turkey. Seventeen thousand people were killed and half-a-million lost their homes. Eighteen months later, the country’s economy fell into a steep recession. Turkey was forced to ask the International Monetary Fund for assistance, and the lira, the country’s currency, was hit by a wave of speculative selling. Soon afterwards, a political crisis brought down the government.
More:EU needs to show solidarity with Turkey
Vincent Boland
On August 17th, 1999, an earthquake struck the city of Izmit, in western Turkey. Seventeen thousand people were killed and half-a-million lost their homes. Eighteen months later, the country’s economy fell into a steep recession. Turkey was forced to ask the International Monetary Fund for assistance, and the lira, the country’s currency, was hit by a wave of speculative selling. Soon afterwards, a political crisis brought down the government.
More:EU needs to show solidarity with Turkey
Trump: US will not pay Turkey for release of detained American pastor Brunson
Trump says the US 'will pay nothing' to Turkey for the release of detained pastor
The U.S. warned Turkey to expect more economic sanctions unless it hands over detained American pastor Andrew Brunson, as relations between the two countries took a further turn for the worse.
President Donald Trump said the U.S. "will pay nothing" to Turkey for the release of Brunson.
U.S. President Donald Trump said on Thursday the United States "will pay nothing" to Turkey for the release of detained American pastor Andrew Brunson, who he called "a great patriot hostage."
More:Trump: US will not pay Turkey for release of detained American pastor Brunson
The U.S. warned Turkey to expect more economic sanctions unless it hands over detained American pastor Andrew Brunson, as relations between the two countries took a further turn for the worse.
President Donald Trump said the U.S. "will pay nothing" to Turkey for the release of Brunson.
U.S. President Donald Trump said on Thursday the United States "will pay nothing" to Turkey for the release of detained American pastor Andrew Brunson, who he called "a great patriot hostage."
More:Trump: US will not pay Turkey for release of detained American pastor Brunson
Did Any Of My Stuff Come From Turkey?
Did Any Of My Stuff Come From Turkey?
Willy Shih
The recent news coming out of Turkey has been grim for citizens of that crossroads country, but many Americans have little idea about the size or makeup of the Turkish economy. The collapse of the Turkish Lira has raised the level of uncertainty in global equity and currency markets, but unless you are from that region, you probably don’t realize that the country has a vibrant manufacturing sector. Last year I wrote an HBS case on a Turkish logistics company, and in the process, I learned a lot of surprising things. So in that spirit, here are five things that most people don’t know about the Turkish economy and its manufacturing sector.
More:Did Any Of My Stuff Come From Turkey?
Willy Shih
The recent news coming out of Turkey has been grim for citizens of that crossroads country, but many Americans have little idea about the size or makeup of the Turkish economy. The collapse of the Turkish Lira has raised the level of uncertainty in global equity and currency markets, but unless you are from that region, you probably don’t realize that the country has a vibrant manufacturing sector. Last year I wrote an HBS case on a Turkish logistics company, and in the process, I learned a lot of surprising things. So in that spirit, here are five things that most people don’t know about the Turkish economy and its manufacturing sector.
More:Did Any Of My Stuff Come From Turkey?
The Netherlands Shows How Western Tensions With Turkey Spill Into Local Politics
The Netherlands Shows How Western Tensions With Turkey Spill Into Local Politics
Frida Ghitis Thursday, Aug. 16, 2018
AMSTERDAM—Just as Turkish President Recep Tayyip Erdogan fulminates against the United States again, blaming Washington for his country’s worsening economic troubles, a small controversy has erupted in the Netherlands over Turkish influence in the country. It came to light earlier this week that Turkey is planning to fund special Dutch schools to teach residents of Turkish origin about their heritage. The idea has sparked alarm among some Dutch politicians and their followers on both the left and the right, who worry about what, exactly, Erdogan’s government intends to teach in these schools, which would operate on weekends across the Netherlands.
More:The Netherlands Shows How Western Tensions With Turkey Spill Into Local Politics
Frida Ghitis Thursday, Aug. 16, 2018
AMSTERDAM—Just as Turkish President Recep Tayyip Erdogan fulminates against the United States again, blaming Washington for his country’s worsening economic troubles, a small controversy has erupted in the Netherlands over Turkish influence in the country. It came to light earlier this week that Turkey is planning to fund special Dutch schools to teach residents of Turkish origin about their heritage. The idea has sparked alarm among some Dutch politicians and their followers on both the left and the right, who worry about what, exactly, Erdogan’s government intends to teach in these schools, which would operate on weekends across the Netherlands.
More:The Netherlands Shows How Western Tensions With Turkey Spill Into Local Politics
Are iPhones and Social Media to Blame for Turkey's Plunging Economy?
Are iPhones and social media to blame for Turkey’s plunging economy?
Efe Kerem Sozeri—
Aug 16 at 8:30AM
They probably aren’t to blame.
Turkey’s economy is in dire straits right now, but the country’s long-term President Recep Tayyip Erdogan is busy blaming social media users for the plunge and offering to boycott U.S. consumer goods as a solution.
More:Are iPhones and Social Media to Blame for Turkey's Plunging Economy?
Efe Kerem Sozeri—
Aug 16 at 8:30AM
They probably aren’t to blame.
Turkey’s economy is in dire straits right now, but the country’s long-term President Recep Tayyip Erdogan is busy blaming social media users for the plunge and offering to boycott U.S. consumer goods as a solution.
More:Are iPhones and Social Media to Blame for Turkey's Plunging Economy?
Donald Trump may SHOOT himself in foot over Recep Tayyip Erdogan US-Turkey sanctions | World | News | Express.co.uk
‘Trump SHOOTING HIMSELF in foot’: US-Turkey sanctions may STRENGTHEN Syria
THE RECENT diplomatic feud between Ankara and Washington over Turkey’s detainment of a US pastor endangers both nations’ interests in Syria, where allies Iran and Russia could benefit from further coalition collapse, according to one expert source.
More:Donald Trump may SHOOT himself in foot over Recep Tayyip Erdogan US-Turkey sanctions | World | News | Express.co.uk
THE RECENT diplomatic feud between Ankara and Washington over Turkey’s detainment of a US pastor endangers both nations’ interests in Syria, where allies Iran and Russia could benefit from further coalition collapse, according to one expert source.
More:Donald Trump may SHOOT himself in foot over Recep Tayyip Erdogan US-Turkey sanctions | World | News | Express.co.uk
Who is Berat Albayrak, Turkey's finance minister? | Recep Tayyip Erdogan | Al Jazeera
Who is Berat Albayrak, Turkey's finance minister?
The coming weeks will show how well Turkey's finance minister can turn around the country's struggling economy.
More:Who is Berat Albayrak, Turkey's finance minister? | Recep Tayyip Erdogan | Al Jazeera
The coming weeks will show how well Turkey's finance minister can turn around the country's struggling economy.
More:Who is Berat Albayrak, Turkey's finance minister? | Recep Tayyip Erdogan | Al Jazeera
Donald Trump's Tariffs Create Economic Chaos in Turkey. Will Erdogan Cave—Or Will NATO Kick Him Out?
Donald Trump's Tariffs Create Economic Chaos in Turkey. Will Erdogan Cave—Or Will NATO Kick Him Out?
By Bill Powell On 8/17/18 at 4:10 AM
The current economic crisis in Turkey, which continues to roil global equity markets, is but the most recent and most visible evidence of Ankara’s deteriorating relations with the United States and with Washington’s NATO allies. It is a diplomatic crisis that’s been coming for more than two years, but President Donald Trump appears to have just realized it. Only a month ago, Trump fist-bumped Turkish President Recep Tayyip Erdogan and said of him, “He does things the right way.” Then, on August 11, Trump doubled the tariffs on Turkish-produced steel and aluminum and said via tweet, “relations between us are not good at this time.”
More:Donald Trump's Tariffs Create Economic Chaos in Turkey. Will Erdogan Cave—Or Will NATO Kick Him Out?
By Bill Powell On 8/17/18 at 4:10 AM
The current economic crisis in Turkey, which continues to roil global equity markets, is but the most recent and most visible evidence of Ankara’s deteriorating relations with the United States and with Washington’s NATO allies. It is a diplomatic crisis that’s been coming for more than two years, but President Donald Trump appears to have just realized it. Only a month ago, Trump fist-bumped Turkish President Recep Tayyip Erdogan and said of him, “He does things the right way.” Then, on August 11, Trump doubled the tariffs on Turkish-produced steel and aluminum and said via tweet, “relations between us are not good at this time.”
More:Donald Trump's Tariffs Create Economic Chaos in Turkey. Will Erdogan Cave—Or Will NATO Kick Him Out?
A Turkish Collapse Revisited #TurkeyEconomy - Sigma Insight Turkey
A Turkish Collapse Revisited #TurkeyEconomy
As a friend of former Turkish prime minister Bülent Ecevit, I had a front seat in the stalls when the Turkish economy last collapsed in February 2001. Now I have a sense of déjà vu that the whole process is repeating itself, albeit for different reasons.
Bülent Ecevit was a decent man who tried to hold together a coalition government consisting of social democrats, conservatives and ultra-nationalists, but what brought both Ecevit and Turkey down was the issue of corruption. This began with a liquidity crisis in November 2000 and ended with a confrontation with President Ahmet Necdet Sezer at a meeting of the National Security Council on Monday, 19 February 2001.
More:A Turkish Collapse Revisited #TurkeyEconomy - Sigma Insight Turkey: A Turkish Collapse Revisited #TurkeyEconomy Posted by Robert Ellis | Aug 17, 2018 | Insights | 0 A Turkish Collapse Revisited #TurkeyEconomy
As a friend of former Turkish prime minister Bülent Ecevit, I had a front seat in the stalls when the Turkish economy last collapsed in February 2001. Now I have a sense of déjà vu that the whole process is repeating itself, albeit for different reasons.
Bülent Ecevit was a decent man who tried to hold together a coalition government consisting of social democrats, conservatives and ultra-nationalists, but what brought both Ecevit and Turkey down was the issue of corruption. This began with a liquidity crisis in November 2000 and ended with a confrontation with President Ahmet Necdet Sezer at a meeting of the National Security Council on Monday, 19 February 2001.
More:A Turkish Collapse Revisited #TurkeyEconomy - Sigma Insight Turkey: A Turkish Collapse Revisited #TurkeyEconomy Posted by Robert Ellis | Aug 17, 2018 | Insights | 0 A Turkish Collapse Revisited #TurkeyEconomy
Options for Turkey - The Globalist
Options for Turkey
What the Erdogan government must do if it wants to avoid a “cold Turkey” economic shock.
More:Options for Turkey - The Globalist
What the Erdogan government must do if it wants to avoid a “cold Turkey” economic shock.
More:Options for Turkey - The Globalist
Erdoğan, Trump, and the Strongman Politics Devastating Turkey’s Economy | The New Yorker
Erdoğan, Trump, and the Strongman Politics Devastating Turkey’s Economy
By Fariba Nawa
August 16, 2018
The usually bustling open market in the Kadıköy district of Istanbul was half full on Sunday. Shop owners had increased their prices twenty per cent over the past two weeks. The cost of a package of eggs had risen by fifty per cent in a week; the price of bananas imported from Latin America had doubled. Aynur Keskin, a homemaker with two school-aged children, bought a few items and shook her head, dismayed at the rising inflation, a result of the country’s ailing economy and the plummeting Turkish lira. “I was thinking of going abroad for a holiday, but that’s a dream now,” she told me.
More:Erdoğan, Trump, and the Strongman Politics Devastating Turkey’s Economy | The New Yorker
By Fariba Nawa
August 16, 2018
The usually bustling open market in the Kadıköy district of Istanbul was half full on Sunday. Shop owners had increased their prices twenty per cent over the past two weeks. The cost of a package of eggs had risen by fifty per cent in a week; the price of bananas imported from Latin America had doubled. Aynur Keskin, a homemaker with two school-aged children, bought a few items and shook her head, dismayed at the rising inflation, a result of the country’s ailing economy and the plummeting Turkish lira. “I was thinking of going abroad for a holiday, but that’s a dream now,” she told me.
More:Erdoğan, Trump, and the Strongman Politics Devastating Turkey’s Economy | The New Yorker
Turkey's Economic Collapse Won't Hurt Erdogan Politically | Time
Turkey's Economy May Be in Freefall, But Erdogan's Base Believes He Can Do No Wrong
By Soner Cagaptay August 16, 2018 IDEAS
Turkish economy faces severe economic troubles as Ankara readies for what could be a drawn-out fight with its ally the U.S. over the arrest of Pastor Andrew Brunson in Turkey. However, do not expect the base of Turkish President Recep Tayyip Erdogan to abandon him. No matter the troubles facing Turkey, Erdogan’s followers believe they have a historic mission to stand by the man they adoringly refer to as the Reis (meaning Leader or Captain in Turkish).
More:Turkey's Economic Collapse Won't Hurt Erdogan Politically | Time
By Soner Cagaptay August 16, 2018 IDEAS
Turkish economy faces severe economic troubles as Ankara readies for what could be a drawn-out fight with its ally the U.S. over the arrest of Pastor Andrew Brunson in Turkey. However, do not expect the base of Turkish President Recep Tayyip Erdogan to abandon him. No matter the troubles facing Turkey, Erdogan’s followers believe they have a historic mission to stand by the man they adoringly refer to as the Reis (meaning Leader or Captain in Turkish).
More:Turkey's Economic Collapse Won't Hurt Erdogan Politically | Time
Turkey: Ankara Searches for an Economic Rescue
Turkey: Ankara Searches for an Economic Rescue
Amid continuing efforts to stabilize the Turkish lira, Economy and Finance Minister Berat Albayrak spoke with 3,000 investors on Aug. 16, attempting to address some of the issues facing the economy. During the call, he stated that Turkey was economically stable and that the country won't resort to capital controls or assistance from the International Monetary Fund. He also noted that the government is working to reduce inflation. Investor reactions have so far been positive, albeit cautious. Now, Albayrak needs to move beyond the rhetorical space and take definitive action, potentially through the implem
More:Turkey: Ankara Searches for an Economic Rescue
Amid continuing efforts to stabilize the Turkish lira, Economy and Finance Minister Berat Albayrak spoke with 3,000 investors on Aug. 16, attempting to address some of the issues facing the economy. During the call, he stated that Turkey was economically stable and that the country won't resort to capital controls or assistance from the International Monetary Fund. He also noted that the government is working to reduce inflation. Investor reactions have so far been positive, albeit cautious. Now, Albayrak needs to move beyond the rhetorical space and take definitive action, potentially through the implem
More:Turkey: Ankara Searches for an Economic Rescue
Turkey does not wish to have problems with U.S. - foreign minister | Euronews
Turkey does not wish to have problems with U.S. - foreign minister
By Reuters• last updated: 16/08/2018
ANKARA (Reuters) - Turkey does not wish to have problems with the United States and the two NATO allies could easily overcome their differences but not with the current U.S. approach, Foreign Minister Mevlut Cavusoglu said on Thursday.
More:Turkey does not wish to have problems with U.S. - foreign minister | Euronews
By Reuters• last updated: 16/08/2018
ANKARA (Reuters) - Turkey does not wish to have problems with the United States and the two NATO allies could easily overcome their differences but not with the current U.S. approach, Foreign Minister Mevlut Cavusoglu said on Thursday.
More:Turkey does not wish to have problems with U.S. - foreign minister | Euronews
Turkish firms cancel iPhone orders amid US products boycott | OTV
Turkish firms cancel iPhone orders amid US products boycott
Edited By Odishatv Bureau | Published By IANS On Aug 16, 2018 - 20:13:30
Istanbul: Turkey’s biggest mobile phone importing companies have cancelled their iPhone orders as Turkish citizens join a move to boycott US products.
More:Turkish firms cancel iPhone orders amid US products boycott | OTV
Edited By Odishatv Bureau | Published By IANS On Aug 16, 2018 - 20:13:30
Istanbul: Turkey’s biggest mobile phone importing companies have cancelled their iPhone orders as Turkish citizens join a move to boycott US products.
More:Turkish firms cancel iPhone orders amid US products boycott | OTV
Turkish Lira Firms Despite U.S. Warning of More Sanctions | Jewish News | Israel News | Israel Politics
Turkish Lira Firms Despite U.S. Warning of More Sanctions
Friday, August 17, 2018 at 3:39 am
ISTANBUL (Reuters) - The Turkish lira strengthened against the dollar on Friday as investors weighed up a U.S warning that Turkey should expect more economic sanctions unless it hands over detained American pastor Andrew Brunson.
More:Turkish Lira Firms Despite U.S. Warning of More Sanctions | Jewish News | Israel News | Israel Politics
Friday, August 17, 2018 at 3:39 am
ISTANBUL (Reuters) - The Turkish lira strengthened against the dollar on Friday as investors weighed up a U.S warning that Turkey should expect more economic sanctions unless it hands over detained American pastor Andrew Brunson.
More:Turkish Lira Firms Despite U.S. Warning of More Sanctions | Jewish News | Israel News | Israel Politics
Thursday, August 16, 2018
Turkish finance chief tries to reassure investors on crisis | The State
Turkish finance chief tries to reassure investors on crisis
By SUZAN FRASER Associated Press
ANKARA, Turkey Turkey's finance chief tried to reassure thousands of international investors on a conference call Thursday, in which he pledged to fix the economic troubles that have seen the country spiral into a currency crisis.
More:Turkish finance chief tries to reassure investors on crisis | The State
By SUZAN FRASER Associated Press
ANKARA, Turkey Turkey's finance chief tried to reassure thousands of international investors on a conference call Thursday, in which he pledged to fix the economic troubles that have seen the country spiral into a currency crisis.
More:Turkish finance chief tries to reassure investors on crisis | The State
Lira crisis: Emerging markets, US dollar, Turkey-EU relations impacted
Winners and losers from the Turkey crisis
The dramatic fall in the Turkish lira over the last few days has rattled global markets, even though experts don't expect the troubles facing Turkey to trigger the next financial crisis.
More:Lira crisis: Emerging markets, US dollar, Turkey-EU relations impacted
The dramatic fall in the Turkish lira over the last few days has rattled global markets, even though experts don't expect the troubles facing Turkey to trigger the next financial crisis.
More:Lira crisis: Emerging markets, US dollar, Turkey-EU relations impacted
Recep Tayyip Erdogan: ‘Turkey is under siege’ economically
Recep Tayyip Erdogan: ‘Turkey is under siege’ economically
by Joel Gehrke | August 13, 2018
Turkey's economy is now “under siege,” the NATO ally’s authoritarian president said in response to the Trump administration's recent decision to double the tariffs it will impose on steel and aluminum from that country.
More:Recep Tayyip Erdogan: ‘Turkey is under siege’ economically
by Joel Gehrke | August 13, 2018
Turkey's economy is now “under siege,” the NATO ally’s authoritarian president said in response to the Trump administration's recent decision to double the tariffs it will impose on steel and aluminum from that country.
More:Recep Tayyip Erdogan: ‘Turkey is under siege’ economically
The lira surged 7% after Turkey hit back at US 'attacks' by slapping American cars, alcohol, and tobacco with huge tariffs
The lira surged 7% after Turkey hit back at US ‘attacks’ by slapping American cars, alcohol, and tobacco with huge tariffs
LONDON – Turkey’s downtrodden currency, the lira, surged Wednesday morning hours after the country’s government levied significant tariffs against American goods in response to what it has called “deliberate attacks” against its economy by the US.
More:The lira surged 7% after Turkey hit back at US 'attacks' by slapping American cars, alcohol, and tobacco with huge tariffs
LONDON – Turkey’s downtrodden currency, the lira, surged Wednesday morning hours after the country’s government levied significant tariffs against American goods in response to what it has called “deliberate attacks” against its economy by the US.
More:The lira surged 7% after Turkey hit back at US 'attacks' by slapping American cars, alcohol, and tobacco with huge tariffs
Turkey's President Erdogan Playing Chicken With Investors
Turkey's President Erdogan Playing Chicken With Investors
Rob Koyfman
The year is 2018 and you’re on Jeopardy! Geopolitics for $200 Alex, you ask. In this country, the president installed his son-in-law to a post that many believed he was unqualified for and broke long-standing protocol by interfering with central bank policy. You hit the buzzer and confidently blurt out, "What is the United States?" "I’m sorry," Alex says with a judging smirk, "What is Turkey?"
More:Turkey's President Erdogan Playing Chicken With Investors
Rob Koyfman
The year is 2018 and you’re on Jeopardy! Geopolitics for $200 Alex, you ask. In this country, the president installed his son-in-law to a post that many believed he was unqualified for and broke long-standing protocol by interfering with central bank policy. You hit the buzzer and confidently blurt out, "What is the United States?" "I’m sorry," Alex says with a judging smirk, "What is Turkey?"
More:Turkey's President Erdogan Playing Chicken With Investors
U.S. sanctions could target Turkish Airlines – NYT | Ahval
U.S. sanctions could target Turkish Airlines – NYT
The next round of U.S. economic sanctions on Turkey could include limits on national flag carrier Turkish Airlines, the New York Times said on Wednesday.
If an American pastor jailed by Turkey, Andrew Brunson, were not released by the end of the day, there could be more economic sanctions put on the Turkish economy, it said.
More:U.S. sanctions could target Turkish Airlines – NYT | Ahval
The next round of U.S. economic sanctions on Turkey could include limits on national flag carrier Turkish Airlines, the New York Times said on Wednesday.
If an American pastor jailed by Turkey, Andrew Brunson, were not released by the end of the day, there could be more economic sanctions put on the Turkish economy, it said.
More:U.S. sanctions could target Turkish Airlines – NYT | Ahval
Wednesday, August 15, 2018
Turkey: Hoteliers could profit from lira slump more than tour operators or package holidaymakers
Hoteliers could profit from lira slump more than tour operators or package holidaymakers
The dramatic fall in the value of the Turkish lira could benefit hoteliers with revenues in euros more than tour operators or package holidaymakers, according to experts.
More:Turkey: Hoteliers could profit from lira slump more than tour operators or package holidaymakers
The dramatic fall in the value of the Turkish lira could benefit hoteliers with revenues in euros more than tour operators or package holidaymakers, according to experts.
More:Turkey: Hoteliers could profit from lira slump more than tour operators or package holidaymakers
Amid currency crisis, Ankara goes to build roads in Syria
Amid currency crisis, Ankara goes to build roads in Syria
The Turkish government will build the roads in cooperation with local councils in Aleppo
Turkish construction companies will provide local councils with equipment needed for a fast road network, and asphalt will be brought from Turkey
ANKARA: Turkey is planning a road network to link the main cities in the Euphrates Shield area in Aleppo with its southern provinces of Gaziantep and Kilis.
More:Amid currency crisis, Ankara goes to build roads in Syria
The Turkish government will build the roads in cooperation with local councils in Aleppo
Turkish construction companies will provide local councils with equipment needed for a fast road network, and asphalt will be brought from Turkey
ANKARA: Turkey is planning a road network to link the main cities in the Euphrates Shield area in Aleppo with its southern provinces of Gaziantep and Kilis.
More:Amid currency crisis, Ankara goes to build roads in Syria
Turkish business groups urge Erdogan to heal rift with US
Turkish business groups urge Erdogan to heal rift with US
Unusual dissent from commerce over lira as leader calls for boycott of US tech sector
Tue, Aug 14, 2018, 19:46
Laura Pitel, Ayla Jean Yackley in Istanbul
Leading Turkish business groups have called on Ankara to tighten monetary policy, introduce austerity measures and urgently resolve a dispute with the US after a currency crisis that has battered the lira.
More:Turkish business groups urge Erdogan to heal rift with US
Unusual dissent from commerce over lira as leader calls for boycott of US tech sector
Tue, Aug 14, 2018, 19:46
Laura Pitel, Ayla Jean Yackley in Istanbul
Leading Turkish business groups have called on Ankara to tighten monetary policy, introduce austerity measures and urgently resolve a dispute with the US after a currency crisis that has battered the lira.
More:Turkish business groups urge Erdogan to heal rift with US
Turkish leader talks big, but can be pragmatic in crises
Turkish leader talks big, but can be pragmatic in crises
By Christopher Torchia, The Associated Press
ISTANBUL >> The man at the center of Turkey’s currency crisis and feud with the United States — President Recep Tayyip Erdogan — is unleashing the same combative rhetoric that powered him through other grave challenges in his 16 years as the increasingly authoritarian leader of a key NATO ally.
More:Turkish leader talks big, but can be pragmatic in crises
By Christopher Torchia, The Associated Press
ISTANBUL >> The man at the center of Turkey’s currency crisis and feud with the United States — President Recep Tayyip Erdogan — is unleashing the same combative rhetoric that powered him through other grave challenges in his 16 years as the increasingly authoritarian leader of a key NATO ally.
More:Turkish leader talks big, but can be pragmatic in crises
Bitcoin Interest Spikes in Istanbul Amid Turkish Currency Crisis
Bitcoin Interest Spikes in Istanbul Amid Turkish Currency Crisis
August 14, 2018 by William Peaster
Citizens in Istanbul, Turkey’s largest city, began visiting Bitcoin.org in droves in the wake of the politically-driven currency crisis that has rocked the Eurasian nation and its lira over the past few days. That’s per the site’s co-owner Cøbra, who called the spike “MASSIVE.” It’s an interesting trend that casts BTC as an increasingly looked-to redoubt in nations where centrally mismanaged monetary policies have led to disaster.
More:Bitcoin Interest Spikes in Istanbul Amid Turkish Currency Crisis
August 14, 2018 by William Peaster
Citizens in Istanbul, Turkey’s largest city, began visiting Bitcoin.org in droves in the wake of the politically-driven currency crisis that has rocked the Eurasian nation and its lira over the past few days. That’s per the site’s co-owner Cøbra, who called the spike “MASSIVE.” It’s an interesting trend that casts BTC as an increasingly looked-to redoubt in nations where centrally mismanaged monetary policies have led to disaster.
More:Bitcoin Interest Spikes in Istanbul Amid Turkish Currency Crisis
How Turkey's Economic Problems Are Viewed In Istanbul : NPR
How Turkey's Economic Problems Are Viewed In Istanbul
Peter Kenyon
With Turkey's currency volatile and an ongoing battle between Turkish President Recep Tayyip Erdogan and President Trump, Turks are tense about their economic future, but not in a panic.
More:How Turkey's Economic Problems Are Viewed In Istanbul : NPR
Peter Kenyon
With Turkey's currency volatile and an ongoing battle between Turkish President Recep Tayyip Erdogan and President Trump, Turks are tense about their economic future, but not in a panic.
More:How Turkey's Economic Problems Are Viewed In Istanbul : NPR
Turks Scramble as Lira Falls and Prices Soar - The New York Times
Turks Scramble as Lira Falls and Prices Soar
By Carlotta Gall Aug. 14, 2018
ISTANBUL — Prices have soared on imported goods, scaring buyers and sellers. Sales are off as Turks delay purchases or cut back. Everyone is quoting the exchange rate, feverishly calculating what to do with his or her savings, large and small, and watching the price of goods daily.
More:Turks Scramble as Lira Falls and Prices Soar - The New York Times
By Carlotta Gall Aug. 14, 2018
ISTANBUL — Prices have soared on imported goods, scaring buyers and sellers. Sales are off as Turks delay purchases or cut back. Everyone is quoting the exchange rate, feverishly calculating what to do with his or her savings, large and small, and watching the price of goods daily.
More:Turks Scramble as Lira Falls and Prices Soar - The New York Times
Turkey’s Economy Threatened by Erdogan’s Policy, Not Trump
Turkey’s Economy Is on a Collision Course With Reality
By Jonah Shepp
Turkey’s currency, the lira, fell to a record low on Monday as investors panicked over a perfect storm of internal and external factors casting doubt on that country’s economic stability. The lira has fallen 40 percent against the dollar since the start of the year, from 3.8 per dollar to around 7 to the dollar, as long-simmering problems with the Turkish economy have begun to boil over.
More:Turkey’s Economy Threatened by Erdogan’s Policy, Not Trump
By Jonah Shepp
Turkey’s currency, the lira, fell to a record low on Monday as investors panicked over a perfect storm of internal and external factors casting doubt on that country’s economic stability. The lira has fallen 40 percent against the dollar since the start of the year, from 3.8 per dollar to around 7 to the dollar, as long-simmering problems with the Turkish economy have begun to boil over.
More:Turkey’s Economy Threatened by Erdogan’s Policy, Not Trump
Erdogan Makes Some Worrying Friends - Bloomberg
Erdogan Makes Some Worrying Friends
If Turkey is sick of “asymmetric” power relations, Putin is an odd choice of ally.
More:Erdogan Makes Some Worrying Friends - Bloomberg
If Turkey is sick of “asymmetric” power relations, Putin is an odd choice of ally.
More:Erdogan Makes Some Worrying Friends - Bloomberg
Quick Read: Dutch police question suspect in Turkish consulate attack - Safe Travels Magazine
Quick Read: Dutch police question suspect in Turkish consulate attack
News TeamAugust 14, 2018
Quick Read
THE HAGUE, Netherlands — Police in Amsterdam are questioning a man detained on suspicion of throwing home-made explosive devices at the Turkish consulate in the Dutch capital….
More:Quick Read: Dutch police question suspect in Turkish consulate attack - Safe Travels Magazine
News TeamAugust 14, 2018
Quick Read
THE HAGUE, Netherlands — Police in Amsterdam are questioning a man detained on suspicion of throwing home-made explosive devices at the Turkish consulate in the Dutch capital….
More:Quick Read: Dutch police question suspect in Turkish consulate attack - Safe Travels Magazine
Tuesday, August 14, 2018
New border crossing to create direct Iraq-Turkey link
New border crossing to create direct Iraq-Turkey link
Amberin Zaman August 14, 2018
Article Summary Ankara and Baghdad have announced plans to open a second border crossing, tightening links between the two countries.
More:New border crossing to create direct Iraq-Turkey link
Amberin Zaman August 14, 2018
Article Summary Ankara and Baghdad have announced plans to open a second border crossing, tightening links between the two countries.
More:New border crossing to create direct Iraq-Turkey link
Germans of Turkish descent struggle with identity, seek acceptance
Germans of Turkish descent struggle with identity, seek acceptance
"I am a German when we win, but I am an immigrant when we lose," said Mesut Özil, who recently quit the national soccer team, citing racism.
More:Germans of Turkish descent struggle with identity, seek acceptance
"I am a German when we win, but I am an immigrant when we lose," said Mesut Özil, who recently quit the national soccer team, citing racism.
More:Germans of Turkish descent struggle with identity, seek acceptance
How Trump is risking a military mistake of ‘epic proportions’ by souring US ties with Turkey | South China Morning Post
How Trump is risking a military mistake of ‘epic proportions’ by souring US ties with Turkey
US tariffs on Turkish steel and aluminium have outraged President Recep Tayyip Erdogan, who warns that the key Nato member, could ‘start looking for new friends and allies’
More:How Trump is risking a military mistake of ‘epic proportions’ by souring US ties with Turkey | South China Morning Post
US tariffs on Turkish steel and aluminium have outraged President Recep Tayyip Erdogan, who warns that the key Nato member, could ‘start looking for new friends and allies’
More:How Trump is risking a military mistake of ‘epic proportions’ by souring US ties with Turkey | South China Morning Post
Donald Trump's trade war and the historical fraught US/Turkey relationship [Video]
It's not all about Trump. The US-Turkey relationship has been decaying since 2003
Lianna Brinded
Head of Finance, Yahoo Finance UK
Yahoo Finance UKAugust 13, 2018
The Turkish currency Lira is in crisis again after Donald Trump started another proverbial fire.
Apart from starting trade wars with the world’s second largest economy China, as well as provoking a major fallout with the European Union, the US president confirmed that he’s slapping Turkey with higher tariffs.
More:Donald Trump's trade war and the historical fraught US/Turkey relationship [Video]
Lianna Brinded
Head of Finance, Yahoo Finance UK
Yahoo Finance UKAugust 13, 2018
The Turkish currency Lira is in crisis again after Donald Trump started another proverbial fire.
Apart from starting trade wars with the world’s second largest economy China, as well as provoking a major fallout with the European Union, the US president confirmed that he’s slapping Turkey with higher tariffs.
More:Donald Trump's trade war and the historical fraught US/Turkey relationship [Video]
Erdogan calls US sanctions on Turkey 'stab in the back' of Nato ally
Erdogan calls US sanctions on Turkey 'stab in the back' of Nato ally
Josie Ensor
13 August 2018 • 12:18pm
Recep Tayyip Erdogan has accused Donald Trump of waging “economic war against the entire world” and called the US decision to impose tariffs on Turkey a “stab in the back”, as the country’s currency crisis deepened.
More:Erdogan calls US sanctions on Turkey 'stab in the back' of Nato ally
Josie Ensor
13 August 2018 • 12:18pm
Recep Tayyip Erdogan has accused Donald Trump of waging “economic war against the entire world” and called the US decision to impose tariffs on Turkey a “stab in the back”, as the country’s currency crisis deepened.
More:Erdogan calls US sanctions on Turkey 'stab in the back' of Nato ally
U.S. investors should see this Turkish crisis as a buying opportunity - MarketWatch
Opinion: U.S. investors should see this Turkish crisis as a buying opportunity
Look at how the U.S. stock market performed after similar crises
CHAPEL HILL, N.C. — Turkey’s currency crisis is creating the preconditions for a good buying opportunity in the U.S. stock market.
That’s because the world’s central banks will almost certainly make sure that there is plenty of liquidity to keep Turkey’s crisis from spreading too far. And, inevitably, much of that liquidity will make its way into the equity markets.
More:U.S. investors should see this Turkish crisis as a buying opportunity - MarketWatch
Look at how the U.S. stock market performed after similar crises
CHAPEL HILL, N.C. — Turkey’s currency crisis is creating the preconditions for a good buying opportunity in the U.S. stock market.
That’s because the world’s central banks will almost certainly make sure that there is plenty of liquidity to keep Turkey’s crisis from spreading too far. And, inevitably, much of that liquidity will make its way into the equity markets.
More:U.S. investors should see this Turkish crisis as a buying opportunity - MarketWatch
Factbox: European banks' exposure to Turkey | Reuters
Factbox: European banks' exposure to Turkey
Reuters Staff
MILAN (Reuters) - Turkey’s economic crisis poses a threat to European banks with business in the country.
Spain’s BBVA (BBVA.MC), Italy’s UniCredit (CRDI.MI), France’s BNP Paribas (BNPP.PA), Dutch bank ING (INGA.AS) and Britain’s HSBC (HSBA.L) are the most exposed to Turkey and vulnerable to its free-falling currency.
More:Factbox: European banks' exposure to Turkey | Reuters
Reuters Staff
MILAN (Reuters) - Turkey’s economic crisis poses a threat to European banks with business in the country.
Spain’s BBVA (BBVA.MC), Italy’s UniCredit (CRDI.MI), France’s BNP Paribas (BNPP.PA), Dutch bank ING (INGA.AS) and Britain’s HSBC (HSBA.L) are the most exposed to Turkey and vulnerable to its free-falling currency.
More:Factbox: European banks' exposure to Turkey | Reuters
Dutch MPs says Turkish weekend school plan is 'worrying' - DutchNews.nl
Dutch MPs says Turkish weekend school plan is ‘worrying’
Society
August 13, 2018
Dutch MPs say they are ‘extremely concerned’ at reports that the Turkish government is planning to fund weekend schools in the Netherlands.
More:Dutch MPs says Turkish weekend school plan is 'worrying' - DutchNews.nl
Society
August 13, 2018
Dutch MPs say they are ‘extremely concerned’ at reports that the Turkish government is planning to fund weekend schools in the Netherlands.
More:Dutch MPs says Turkish weekend school plan is 'worrying' - DutchNews.nl
Monday, August 13, 2018
Trump Is the First President to Get Turkey Right – Foreign Policy
Trump Is the First President to Get Turkey Right
Good riddance to the so-called strategic relationship between Washington and Ankara. By Steven A. Cook | August 13, 2018, 4:31 PM
Last Friday, Turkish President Recep Tayyip Erdogan published an op-ed in the New York Times outlining his country’s grievances toward the United States. The Turkish leader raised valid concerns about U.S. policy that genuinely vex Turkish leaders and citizens alike. Yet Erdogan only told half the story, leaving his readers to believe that Washington has victimized a reliable ally and partner. The United States has long had its own list of grievances, however—and it’s to the Trump administration’s credit that, unlike its predecessors, it finally seems to be doing something about it.
More:Trump Is the First President to Get Turkey Right – Foreign Policy
Good riddance to the so-called strategic relationship between Washington and Ankara. By Steven A. Cook | August 13, 2018, 4:31 PM
Last Friday, Turkish President Recep Tayyip Erdogan published an op-ed in the New York Times outlining his country’s grievances toward the United States. The Turkish leader raised valid concerns about U.S. policy that genuinely vex Turkish leaders and citizens alike. Yet Erdogan only told half the story, leaving his readers to believe that Washington has victimized a reliable ally and partner. The United States has long had its own list of grievances, however—and it’s to the Trump administration’s credit that, unlike its predecessors, it finally seems to be doing something about it.
More:Trump Is the First President to Get Turkey Right – Foreign Policy
Top EU Bank Supervisor Urges ‘Bold Action’ by Turkey to Fix Lira - Bloomberg
Top EU Bank Supervisor Urges ‘Bold Action’ by Turkey to Fix Lira
By Nicholas Comfort
and Jana Randow
August 13, 2018, 5:45 PM GMT+2
A central bank that staked its reputation on a stable currency has some tough advice for Turkey: Be bold to stem the lira crisis.
More:Top EU Bank Supervisor Urges ‘Bold Action’ by Turkey to Fix Lira - Bloomberg
By Nicholas Comfort
and Jana Randow
August 13, 2018, 5:45 PM GMT+2
A central bank that staked its reputation on a stable currency has some tough advice for Turkey: Be bold to stem the lira crisis.
More:Top EU Bank Supervisor Urges ‘Bold Action’ by Turkey to Fix Lira - Bloomberg
Turkey Has More To Worry About Than Trump's Tariffs
Turkey Has More To Worry About Than Trump's Tariffs
Kenneth Rapoza
The Turkish lira is in the company of every other emerging market currency.
Turkey's rate increases have arguably fueled lira weakness and CPI increases, exacerbated by Trump’s new tariffs.
The Turks survived Vladimir Putin’s ire not too long ago. They’ll survive Trump’s too. Their economy, however, might not survive their central bank.
More:Turkey Has More To Worry About Than Trump's Tariffs
Kenneth Rapoza
The Turkish lira is in the company of every other emerging market currency.
Turkey's rate increases have arguably fueled lira weakness and CPI increases, exacerbated by Trump’s new tariffs.
The Turks survived Vladimir Putin’s ire not too long ago. They’ll survive Trump’s too. Their economy, however, might not survive their central bank.
More:Turkey Has More To Worry About Than Trump's Tariffs
Turkey crisis: Economy faces weak lira, inflation, debt and tariffs
What went wrong for Turkey? Its economy is 'in the midst of a perfect storm'
Turkey has in recent years been one of the fastest-growing economies in the world, but its impressive growth numbers were fueled by foreign-currency debt.
The country's borrowing resulted in deficits in both its fiscal and current accounts, and Turkey doesn't have large enough reserves to rescue the economy when things go wrong, experts say.
Making the situation worse for Turkey is President Recep Tayyip Erdogan's preference to keep interest rates low even though inflation is more than three times the central bank's target.
Yen Nee Lee
The free fall in the Turkish lira has stoked fears of an economic fallout that could spill over into other emerging markets
More:Turkey crisis: Economy faces weak lira, inflation, debt and tariffs
Turkey has in recent years been one of the fastest-growing economies in the world, but its impressive growth numbers were fueled by foreign-currency debt.
The country's borrowing resulted in deficits in both its fiscal and current accounts, and Turkey doesn't have large enough reserves to rescue the economy when things go wrong, experts say.
Making the situation worse for Turkey is President Recep Tayyip Erdogan's preference to keep interest rates low even though inflation is more than three times the central bank's target.
Yen Nee Lee
The free fall in the Turkish lira has stoked fears of an economic fallout that could spill over into other emerging markets
More:Turkey crisis: Economy faces weak lira, inflation, debt and tariffs
A Lifeline for Turkey - WSJ
A Lifeline for Turkey
Erdogan needs to give up a discretionary monetary policy.
By The Editorial Board Aug. 12, 2018 6:50 p.m. ET
Like King Lear raging on the heath, Turkey’s Recep Tayyan Erdogan is lashing out at Donald Trump, financial markets, the almighty U.S. dollar and anyone else he can find to assign blame for his country’s currency and debt crisis. Someone should introduce him to economist Steve Hanke, who is offering the Turkish strongman the best lifeline available to stop the panic.
More:A Lifeline for Turkey - WSJ
Erdogan needs to give up a discretionary monetary policy.
By The Editorial Board Aug. 12, 2018 6:50 p.m. ET
Like King Lear raging on the heath, Turkey’s Recep Tayyan Erdogan is lashing out at Donald Trump, financial markets, the almighty U.S. dollar and anyone else he can find to assign blame for his country’s currency and debt crisis. Someone should introduce him to economist Steve Hanke, who is offering the Turkish strongman the best lifeline available to stop the panic.
More:A Lifeline for Turkey - WSJ
Turkey's Erdogan and Trump are in a chess match, but neither has the temperament to play - Turkey - Haaretz.com
Turkey's Erdogan and Trump Are in a Chess Match, but Neither Has the Temperament to Play
Trump and Erdogan don’t have the patience or temperament to patch up relations diplomatically, but they share critical interests that could force a reconciliation
More:Turkey's Erdogan and Trump are in a chess match, but neither has the temperament to play - Turkey - Haaretz.com
Trump and Erdogan don’t have the patience or temperament to patch up relations diplomatically, but they share critical interests that could force a reconciliation
More:Turkey's Erdogan and Trump are in a chess match, but neither has the temperament to play - Turkey - Haaretz.com
Erdogan Can Save the Turkish Lira - WSJ
Erdogan Can Save the Turkish Lira
He should form a currency board—a monetary-reform measure that’s been tried 70 times and never failed.
More:Erdogan Can Save the Turkish Lira - WSJ
He should form a currency board—a monetary-reform measure that’s been tried 70 times and never failed.
More:Erdogan Can Save the Turkish Lira - WSJ
Turkey takes action in bid to curb currency crisis - BBC News
Turkey takes action in bid to curb currency crisis
Turkey's central bank has said it is ready to take "all necessary measures" to ensure financial stability after the collapse of the lira.
More:Turkey takes action in bid to curb currency crisis - BBC News
Turkey's central bank has said it is ready to take "all necessary measures" to ensure financial stability after the collapse of the lira.
More:Turkey takes action in bid to curb currency crisis - BBC News
Sunday, August 12, 2018
Turkey says it has a plan to stop freefall of its currency, restore confidence | afr.com
Turkey says it has a plan to stop freefall of its currency, restore confidence
Turkey Finance and Treasury Minister Berat Albayrak, son-in-law of President Recep Tayyip Erdogan, is confident about a "new economic model". Mucahit Yapici by Istanbul | Turkey has drafted an action plan and will start implementing it on Monday morning to ease investor concerns, Finance Minister Berat Albayrak said. The lira has plunged to a new record low in early Asia-Pacific trade.
More:Turkey says it has a plan to stop freefall of its currency, restore confidence | afr.com
Turkey Finance and Treasury Minister Berat Albayrak, son-in-law of President Recep Tayyip Erdogan, is confident about a "new economic model". Mucahit Yapici by Istanbul | Turkey has drafted an action plan and will start implementing it on Monday morning to ease investor concerns, Finance Minister Berat Albayrak said. The lira has plunged to a new record low in early Asia-Pacific trade.
More:Turkey says it has a plan to stop freefall of its currency, restore confidence | afr.com
Turkey: Lira Continues to Plunge Despite Erdogan’s Efforts | Asharq AL-awsat
Turkey: Lira Continues to Plunge Despite Erdogan’s Efforts
Sunday, 12 August, 2018 - 09:15
Ankara- Said Abdel Razek The Turkish lira continued to plunge on the backdrop of US President Donald Trump's decision to double tariffs on steel and aluminum imports from Turkey to 50 and 20 percent respectively. Meanwhile, Ankara announced its rejection of the resolution, insisting it would reciprocate.
More:Turkey: Lira Continues to Plunge Despite Erdogan’s Efforts | Asharq AL-awsat
Sunday, 12 August, 2018 - 09:15
Ankara- Said Abdel Razek The Turkish lira continued to plunge on the backdrop of US President Donald Trump's decision to double tariffs on steel and aluminum imports from Turkey to 50 and 20 percent respectively. Meanwhile, Ankara announced its rejection of the resolution, insisting it would reciprocate.
More:Turkey: Lira Continues to Plunge Despite Erdogan’s Efforts | Asharq AL-awsat
US changing strategic NATO partner with pastor, Turkish President Erdoğan says
US changing strategic NATO partner with pastor, Turkish President Erdoğan says
ORDU
Turkish President Recep Tayyip Erdoğan has warned that the United States is "changing a strategic NATO partner with a pastor" in his latest statement about the ongoing diplomatic row between the two countries over the arrest of Pastor Andrew Brunson.
More:US changing strategic NATO partner with pastor, Turkish President Erdoğan says
ORDU
Turkish President Recep Tayyip Erdoğan has warned that the United States is "changing a strategic NATO partner with a pastor" in his latest statement about the ongoing diplomatic row between the two countries over the arrest of Pastor Andrew Brunson.
More:US changing strategic NATO partner with pastor, Turkish President Erdoğan says
Turkey’s Economic Crisis: Does It Matter for the Eurozone? - The Globalist
Turkey’s Economic Crisis: Does It Matter for the Eurozone?
A deep Turkish recession could lead to more migrants leaving Turkey for the EU. Currently more than three million Syrian refugees are living in Turkey.
More:Turkey’s Economic Crisis: Does It Matter for the Eurozone? - The Globalist
A deep Turkish recession could lead to more migrants leaving Turkey for the EU. Currently more than three million Syrian refugees are living in Turkey.
More:Turkey’s Economic Crisis: Does It Matter for the Eurozone? - The Globalist
Turkey’s perfect storm – POLITICO
Turkey’s perfect storm
Don’t blame Trump. The current crisis is the culmination of Erdoğan’s reckless stewardship.
By Aykan Erdemir
WASHINGTON — Turkey’s president Recep Tayyip Erdoğan came to power on the heels of the 2001 financial crisis that ended entire political careers. Following Friday’s meltdown in the Turkish economy, a day Turks are already hailing as “Black Friday,” many are left wondering whether Erdoğan will also fall from power.
More:Turkey’s perfect storm – POLITICO
Don’t blame Trump. The current crisis is the culmination of Erdoğan’s reckless stewardship.
By Aykan Erdemir
WASHINGTON — Turkey’s president Recep Tayyip Erdoğan came to power on the heels of the 2001 financial crisis that ended entire political careers. Following Friday’s meltdown in the Turkish economy, a day Turks are already hailing as “Black Friday,” many are left wondering whether Erdoğan will also fall from power.
More:Turkey’s perfect storm – POLITICO
Turkey's Economy by the Numbers - 24/7 Wall St.
A Closer Look at Turkey’s Economy
By Douglas A. McIntyre August 11, 2018 8:45 am EDT
The value of Turkey’s currency, the lira, has collapsed. Its economy has stagnated so badly that there is even talk of a bailout, perhaps led by the International Monetary Fund (IMF). Banks in the nation loaned too much money, and some of those loans have failed. The country is in a trade war with the Trump administration, particularly over steel and aluminum prices. What does the Turkish economy look like? Here are comments from several expert sources.
More:Turkey's Economy by the Numbers - 24/7 Wall St.
By Douglas A. McIntyre August 11, 2018 8:45 am EDT
The value of Turkey’s currency, the lira, has collapsed. Its economy has stagnated so badly that there is even talk of a bailout, perhaps led by the International Monetary Fund (IMF). Banks in the nation loaned too much money, and some of those loans have failed. The country is in a trade war with the Trump administration, particularly over steel and aluminum prices. What does the Turkish economy look like? Here are comments from several expert sources.
More:Turkey's Economy by the Numbers - 24/7 Wall St.
Turkey is a ‘target of economic war’, Turkish president says - National | Globalnews.ca
Turkey is a ‘target of economic war’, Turkish president says
By Humeyra Pamuk Reuters
President Tayyip Erdogan denied on Saturday that Turkey is in a currency crisis, dismissing a plunge in the lira as ‘fluctuations’ which have nothing to do with economic fundamentals.
More:Turkey is a ‘target of economic war’, Turkish president says - National | Globalnews.ca
By Humeyra Pamuk Reuters
President Tayyip Erdogan denied on Saturday that Turkey is in a currency crisis, dismissing a plunge in the lira as ‘fluctuations’ which have nothing to do with economic fundamentals.
More:Turkey is a ‘target of economic war’, Turkish president says - National | Globalnews.ca
Saturday, August 11, 2018
Turkey's lira crisis may be down to Erdogan's fundamental misunderstanding of how 'evil' interest rates work
Turkey’s lira crisis may be down to Erdogan’s fundamental misunderstanding of how ‘evil’ interest rates work
LONDON – Turkey’s economy went from being rocky-but-fixable into a full-blown currency crisis today as the Turkish lira collapsed, losing more than 7% of its value against the US dollar on Friday, totaling a drop of over 35% since the same date last year. The crisis may potentially spread beyond Turkey, as Italy’s already troubled banks are particularly exposed to the lira.
More:Turkey's lira crisis may be down to Erdogan's fundamental misunderstanding of how 'evil' interest rates work
LONDON – Turkey’s economy went from being rocky-but-fixable into a full-blown currency crisis today as the Turkish lira collapsed, losing more than 7% of its value against the US dollar on Friday, totaling a drop of over 35% since the same date last year. The crisis may potentially spread beyond Turkey, as Italy’s already troubled banks are particularly exposed to the lira.
More:Turkey's lira crisis may be down to Erdogan's fundamental misunderstanding of how 'evil' interest rates work
Turkey's Erdogan condemns 'shameful' US over detained pastor - BBC News
Turkey's Erdogan condemns 'shameful' US over detained pastor
The pastor is only one of a number of issues dividing Mr Trump and Mr Erdogan Turkish President Recep Tayyip Erdogan has accused the US of trying to "bring Turkey to its knees through threats over a pastor". The US has demanded the release of Andrew Brunson and on Friday doubled tariffs on steel and aluminium imports.
More:Turkey's Erdogan condemns 'shameful' US over detained pastor - BBC News
The pastor is only one of a number of issues dividing Mr Trump and Mr Erdogan Turkish President Recep Tayyip Erdogan has accused the US of trying to "bring Turkey to its knees through threats over a pastor". The US has demanded the release of Andrew Brunson and on Friday doubled tariffs on steel and aluminium imports.
More:Turkey's Erdogan condemns 'shameful' US over detained pastor - BBC News
Opinion | Erdogan: How Turkey Sees the Crisis With the U.S. - The New York Times
Erdogan: How Turkey Sees the Crisis With the U.S.
Unilateral actions against Turkey by the United States will undermine American interests and force Turkey to look for other friends and allies.
More:Opinion | Erdogan: How Turkey Sees the Crisis With the U.S. - The New York Times
Unilateral actions against Turkey by the United States will undermine American interests and force Turkey to look for other friends and allies.
More:Opinion | Erdogan: How Turkey Sees the Crisis With the U.S. - The New York Times
On Istanbul streets, defiant Turks see U.S. hand behind lira crisis | Reuters
On Istanbul streets, defiant Turks see U.S. hand behind lira crisis
Ece Toksabay
ISTANBUL (Reuters) - Serap, a 23-year-old clerk at a clothes store in central Istanbul, is sure of who to blame for the precipitous slide in Turkey’s lira currency.
More:On Istanbul streets, defiant Turks see U.S. hand behind lira crisis | Reuters
Ece Toksabay
ISTANBUL (Reuters) - Serap, a 23-year-old clerk at a clothes store in central Istanbul, is sure of who to blame for the precipitous slide in Turkey’s lira currency.
More:On Istanbul streets, defiant Turks see U.S. hand behind lira crisis | Reuters
Erdogan warns of ′economic war′ as Turkish lira carnage spooks global markets | Europe| News and current affairs from around the continent | DW | 11.08.2018
Erdogan warns of 'economic war' as Turkish lira carnage spooks global markets
The Turkish lira crash is threatening to turn into a debt and liquidity crisis with no end in sight. Instead of acting, the Turkish leadership has warned of an "economic war."
More:Erdogan warns of ′economic war′ as Turkish lira carnage spooks global markets | Europe| News and current affairs from around the continent | DW | 11.08.2018
The Turkish lira crash is threatening to turn into a debt and liquidity crisis with no end in sight. Instead of acting, the Turkish leadership has warned of an "economic war."
More:Erdogan warns of ′economic war′ as Turkish lira carnage spooks global markets | Europe| News and current affairs from around the continent | DW | 11.08.2018
Friday, August 10, 2018
Turkey's Erdogan entrusts country to divine providence amid currency rout - ShareCast News - London South East
Turkey's Erdogan entrusts country to divine providence amid currency rout
(Sharecast News) - Turkey's President did not deliver any policy-relevant remarks on Friday, instead invoking God, telling an audience at a public rally he wanted to put their well-being in the Creator's hands.
More:Turkey's Erdogan entrusts country to divine providence amid currency rout - ShareCast News - London South East
(Sharecast News) - Turkey's President did not deliver any policy-relevant remarks on Friday, instead invoking God, telling an audience at a public rally he wanted to put their well-being in the Creator's hands.
More:Turkey's Erdogan entrusts country to divine providence amid currency rout - ShareCast News - London South East
Mainstream Turkish media turn blind eye to country’s worst currency crisis
Mainstream Turkish media turn blind eye to country’s worst currency crisis
Cengiz Candar August 9, 2018
Article Summary Although Turkey is suffering one of the worst currency crises in its history, no single mainstream Turkish media outlet has covered the development.
More:Mainstream Turkish media turn blind eye to country’s worst currency crisis
Cengiz Candar August 9, 2018
Article Summary Although Turkey is suffering one of the worst currency crises in its history, no single mainstream Turkish media outlet has covered the development.
More:Mainstream Turkish media turn blind eye to country’s worst currency crisis
Defense On The Field: Turkey's Currency Woes, Geopolitics Weigh
Defense On The Field: Turkey's Currency Woes, Geopolitics Weigh
JJ Kinahan JJ Kinahan
Geopolitical turbulence appears to be generating a flight toward “defensive” investments like the dollar and Treasuries amid general weakness in stocks early Friday.
More:Defense On The Field: Turkey's Currency Woes, Geopolitics Weigh
JJ Kinahan JJ Kinahan
Geopolitical turbulence appears to be generating a flight toward “defensive” investments like the dollar and Treasuries amid general weakness in stocks early Friday.
More:Defense On The Field: Turkey's Currency Woes, Geopolitics Weigh
Trump takes aim at Turkey, announcing doubling of steel and aluminum tariffs in effort to punish country - The Washington Post
Trump takes aim at Turkey, announcing doubling of steel and aluminum tariffs in effort to punish country
by Damian Paletta August 10 at 9:28 AM Email the author
President Trump said Friday that he told his administration to double steel and aluminum tariffs against Turkey, reflecting the rapidly deteriorating state of relations between the two countries.
More:Trump takes aim at Turkey, announcing doubling of steel and aluminum tariffs in effort to punish country - The Washington Post
by Damian Paletta August 10 at 9:28 AM Email the author
President Trump said Friday that he told his administration to double steel and aluminum tariffs against Turkey, reflecting the rapidly deteriorating state of relations between the two countries.
More:Trump takes aim at Turkey, announcing doubling of steel and aluminum tariffs in effort to punish country - The Washington Post
It is too late to save Turkey’s economy - analyst | Ahval
It is too late to save Turkey’s economy - analyst
Turkey’s “Stalinist” mainstream media is refusing to report on economic problems, analyst Atilla Yeşilada wrote for economy focused website Para Analiz, but in any case, he said, it was too late to save the country’s economy.
“Recession has started, and it shall not end easily, because this is Turkey’s first balance sheet recession,” he wrote.
More:It is too late to save Turkey’s economy - analyst | Ahval
Turkey’s “Stalinist” mainstream media is refusing to report on economic problems, analyst Atilla Yeşilada wrote for economy focused website Para Analiz, but in any case, he said, it was too late to save the country’s economy.
“Recession has started, and it shall not end easily, because this is Turkey’s first balance sheet recession,” he wrote.
More:It is too late to save Turkey’s economy - analyst | Ahval
Global Stocks Drop Amid Concerns About Turkey - WSJ
Global Stocks Drop Amid Concerns About Turkey
Major indexes fall; the S&P 500 slides further from its January high
By Ben St. Clair
Updated Aug. 10, 2018 9:44 a.m. ET
Global stocks fell, the euro declined and investors moved into safer assets Friday amid fears that financial instability in Turkey could take a heavy toll on the wider economy.
More:Global Stocks Drop Amid Concerns About Turkey - WSJ
Major indexes fall; the S&P 500 slides further from its January high
By Ben St. Clair
Updated Aug. 10, 2018 9:44 a.m. ET
Global stocks fell, the euro declined and investors moved into safer assets Friday amid fears that financial instability in Turkey could take a heavy toll on the wider economy.
More:Global Stocks Drop Amid Concerns About Turkey - WSJ
Turkey's Currency Crisis: What Happened, What's Next, Why It Matters - TheStreet
Turkey's Currency Crisis: What Happened, What's Next, Why It Matters
Turkey's lira has fallen to a record low against the dollar, and its $860 billion economy -- four times the size of Greece -- is teetering on the edge of a full-blown financial crisis.
More:Turkey's Currency Crisis: What Happened, What's Next, Why It Matters - TheStreet
Turkey's lira has fallen to a record low against the dollar, and its $860 billion economy -- four times the size of Greece -- is teetering on the edge of a full-blown financial crisis.
More:Turkey's Currency Crisis: What Happened, What's Next, Why It Matters - TheStreet
If Turkey implodes, here's who else gets hurt
If Turkey implodes, here's who else gets hurt
Exposure is "pretty international." "European, U.S., Japan, China, Middle East — everyone," Timothy Ash, a senior emerging markets strategist at Bluebay Asset Management, told CNBC. Despite Turkish fears spreading to the rest of Europe there were analysts still fairly sanguine on the risks for the global economy and foreign investors.
With financial turmoil in Turkey roiling the country's assets, analysts are busy contemplating which other countries could be exposed and what this could mean for international investors.
More:If Turkey implodes, here's who else gets hurt
Exposure is "pretty international." "European, U.S., Japan, China, Middle East — everyone," Timothy Ash, a senior emerging markets strategist at Bluebay Asset Management, told CNBC. Despite Turkish fears spreading to the rest of Europe there were analysts still fairly sanguine on the risks for the global economy and foreign investors.
With financial turmoil in Turkey roiling the country's assets, analysts are busy contemplating which other countries could be exposed and what this could mean for international investors.
More:If Turkey implodes, here's who else gets hurt
Erdogan to Break Rare Silence After Turkish Market Bloodbath - Bloomberg
Erdogan to Break Rare Silence After Turkish Market Bloodbath
By Onur Ant
August 9, 2018, 4:20 PM GMT+2
Rarely a day goes by without Turkish President Recep Tayyip Erdogan addressing his nation. His silence during this week’s markets bloodbath was a startling exception.
More:Erdogan to Break Rare Silence After Turkish Market Bloodbath - Bloomberg
By Onur Ant
August 9, 2018, 4:20 PM GMT+2
Rarely a day goes by without Turkish President Recep Tayyip Erdogan addressing his nation. His silence during this week’s markets bloodbath was a startling exception.
More:Erdogan to Break Rare Silence After Turkish Market Bloodbath - Bloomberg
U.S. Sanctions on Turkish Ministers Require Recalibration - The Globalist
U.S. Sanctions on Turkish Ministers Require Recalibration
Additional designations of Erdogan’s cronies would hurt the Turkish strongman’s warchest.
More:U.S. Sanctions on Turkish Ministers Require Recalibration - The Globalist
Additional designations of Erdogan’s cronies would hurt the Turkish strongman’s warchest.
More:U.S. Sanctions on Turkish Ministers Require Recalibration - The Globalist
Turkey to announce 'new economic model' amid currency slide | KIRO-TV
Turkey to outline 'new economic model' as currency slides
By: SUZAN FRASER, Associated Press
Updated: Aug 9, 2018 - 7:45 AM
ANKARA, Turkey (AP) - Turkey's government says it will outline a "new economic model" on Friday as the national currency hit another record low amid concerns about the president's policies and an ongoing dispute with the U.S.
More:Turkey to announce 'new economic model' amid currency slide | KIRO-TV
By: SUZAN FRASER, Associated Press
Updated: Aug 9, 2018 - 7:45 AM
ANKARA, Turkey (AP) - Turkey's government says it will outline a "new economic model" on Friday as the national currency hit another record low amid concerns about the president's policies and an ongoing dispute with the U.S.
More:Turkey to announce 'new economic model' amid currency slide | KIRO-TV
Thursday, August 09, 2018
Turkey: Main opposition party wary of leadership debate
Turkey: Main opposition party wary of leadership debate
0
By Marta Subat on August 8, 2018 News
Spokesman says spat over chairman harming Republican People’s Party
By Mehmet Tosun
A spokesman for Turkey’s main opposition party on Wednesday called for an end to a prolonged debate whether or not to hold an emergency congress that would give disgruntled party members the venue to challenge the current leadership.
More:Turkey: Main opposition party wary of leadership debate
0
By Marta Subat on August 8, 2018 News
Spokesman says spat over chairman harming Republican People’s Party
By Mehmet Tosun
A spokesman for Turkey’s main opposition party on Wednesday called for an end to a prolonged debate whether or not to hold an emergency congress that would give disgruntled party members the venue to challenge the current leadership.
More:Turkey: Main opposition party wary of leadership debate
No sign of breakthrough as Turkey delegation holds talks in Washington | Kitco News
No sign of breakthrough as Turkey delegation holds talks in Washington
Reuters
Reuters Wednesday August 08, 2018 14:51
WASHINGTON (Reuters) - A Turkish delegation met with the State Department’s No. 2 official, John Sullivan, on Wednesday to address friction between the NATO allies fueled by Ankara’s detention of several Americans including an evangelical pastor.
There were no signs of a breakthrough, however, after the hour-long talks.
More:No sign of breakthrough as Turkey delegation holds talks in Washington | Kitco News
Reuters
Reuters Wednesday August 08, 2018 14:51
WASHINGTON (Reuters) - A Turkish delegation met with the State Department’s No. 2 official, John Sullivan, on Wednesday to address friction between the NATO allies fueled by Ankara’s detention of several Americans including an evangelical pastor.
There were no signs of a breakthrough, however, after the hour-long talks.
More:No sign of breakthrough as Turkey delegation holds talks in Washington | Kitco News
Turkey Wants to Arrest American Troops for Ties to 'Terrorist Group'
Turkey Wants to Arrest American Troops for Ties to 'Terrorist Group'
By David Brennan On 8/9/18 at 6:56 AM
Turkish lawyers are trying to arrest a group of American soldiers based in Turkey for alleged links to a terrorist group, amid an ongoing souring of relationships between Washington and Ankara.
More:Turkey Wants to Arrest American Troops for Ties to 'Terrorist Group'
By David Brennan On 8/9/18 at 6:56 AM
Turkish lawyers are trying to arrest a group of American soldiers based in Turkey for alleged links to a terrorist group, amid an ongoing souring of relationships between Washington and Ankara.
More:Turkey Wants to Arrest American Troops for Ties to 'Terrorist Group'
Purged Turkish NATO officer risks Erdogan′s retaliation | Europe| News and current affairs from around the continent | DW | 09.08.2018
Purged Turkish NATO officer risks Erdogan's retaliation
Turkish authorities branded a former high-ranking NATO officer a "terrorist" and imprisoned him. After escaping back to Brussels, he told DW's Teri Schultz that staying silent about what he saw is no longer an option.
More:Purged Turkish NATO officer risks Erdogan′s retaliation | Europe| News and current affairs from around the continent | DW | 09.08.2018
Turkish authorities branded a former high-ranking NATO officer a "terrorist" and imprisoned him. After escaping back to Brussels, he told DW's Teri Schultz that staying silent about what he saw is no longer an option.
More:Purged Turkish NATO officer risks Erdogan′s retaliation | Europe| News and current affairs from around the continent | DW | 09.08.2018
Why Can't Turkey Stop Its Economic Nose-Dive? - Bloomberg
Why Can't Turkey Stop Its Economic Nose-Dive?
By Constantine Courcoulas
, Onur Ant
, and Tugce Ozsoy
August 8, 2018, 4:58 PM GMT+2
Turkey’s economic outlook has deteriorated so much that bankers and traders are starting to talk about the need for an International Monetary Fund rescue -- a taboo topic until recently. Some even worry that President Recep Tayyip Erdogan will impose capital controls as a last-ditch effort to avoid raising interest rates and stop a currency plunge. Since an election in June gave Erdogan expanded control over the economy, concerns have grown that he’ll adopt some of his less-orthodox economic views and steer an overheated economy off a cliff. The U.S., meanwhile, has sparked a currency crisis by threatening more sanctions over Turkey’s jailing of an American pastor on espionage and terrorism-related charges.
More:Why Can't Turkey Stop Its Economic Nose-Dive? - Bloomberg
By Constantine Courcoulas
, Onur Ant
, and Tugce Ozsoy
August 8, 2018, 4:58 PM GMT+2
Turkey’s economic outlook has deteriorated so much that bankers and traders are starting to talk about the need for an International Monetary Fund rescue -- a taboo topic until recently. Some even worry that President Recep Tayyip Erdogan will impose capital controls as a last-ditch effort to avoid raising interest rates and stop a currency plunge. Since an election in June gave Erdogan expanded control over the economy, concerns have grown that he’ll adopt some of his less-orthodox economic views and steer an overheated economy off a cliff. The U.S., meanwhile, has sparked a currency crisis by threatening more sanctions over Turkey’s jailing of an American pastor on espionage and terrorism-related charges.
More:Why Can't Turkey Stop Its Economic Nose-Dive? - Bloomberg
Wednesday, August 08, 2018
Erdogan’s Road Map Out of Market Meltdown Is Full of U-Turns - Bloomberg
Erdogan’s Road Map Out of Market Meltdown Is Full of U-Turns
By Onur Ant
, Andrew Mayeda
, and Tugce Ozsoy
August 8, 2018, 6:00 AM GMT+2 Updated on August 8, 2018, 1:42 PM GMT+2
Lira slump may force president to ditch some economic dogmas
Analysts see need for rate rises, spending cuts, even IMF loan
Almost every prescription for Turkey to rescue its financial markets from meltdown, and its economy from the recession that looks increasingly likely to follow, involves the country’s president backing down.
More:Erdogan’s Road Map Out of Market Meltdown Is Full of U-Turns - Bloomberg
By Onur Ant
, Andrew Mayeda
, and Tugce Ozsoy
August 8, 2018, 6:00 AM GMT+2 Updated on August 8, 2018, 1:42 PM GMT+2
Lira slump may force president to ditch some economic dogmas
Analysts see need for rate rises, spending cuts, even IMF loan
Almost every prescription for Turkey to rescue its financial markets from meltdown, and its economy from the recession that looks increasingly likely to follow, involves the country’s president backing down.
More:Erdogan’s Road Map Out of Market Meltdown Is Full of U-Turns - Bloomberg
Turkish Banks Scramble to Stave Off Debt Crisis, as Lira Plummets | Wolf Street
Turkish Banks Scramble to Stave Off Debt Crisis, as Lira Plummets
by Don Quijones • Aug 7, 2018 •
Desperation is rising in Turkey’s banking sector following months of escalating political and financial instability. Benchmark interest rates have been hiked 10 percentage points so far this year to over 17%, making it much more expensive for companies and families to service their debt. But even that hasn’t stopped the Turkish Lira from plunging almost 25% since March.
More:Turkish Banks Scramble to Stave Off Debt Crisis, as Lira Plummets | Wolf Street
by Don Quijones • Aug 7, 2018 •
Desperation is rising in Turkey’s banking sector following months of escalating political and financial instability. Benchmark interest rates have been hiked 10 percentage points so far this year to over 17%, making it much more expensive for companies and families to service their debt. But even that hasn’t stopped the Turkish Lira from plunging almost 25% since March.
More:Turkish Banks Scramble to Stave Off Debt Crisis, as Lira Plummets | Wolf Street
Turkey: Rumors Emerge of Deal Over U.S. Pastor
Turkey: Rumors Emerge of a Deal Over U.S. Pastor
What Happened: Turkey and the United States have reportedly reached an agreement for the release of U.S. pastor Andrew Brunson, Hurriyet Daily News reported Aug. 7, citing anonymous diplomatic sources.
More:Turkey: Rumors Emerge of Deal Over U.S. Pastor
What Happened: Turkey and the United States have reportedly reached an agreement for the release of U.S. pastor Andrew Brunson, Hurriyet Daily News reported Aug. 7, citing anonymous diplomatic sources.
More:Turkey: Rumors Emerge of Deal Over U.S. Pastor
Turkey Crisis Deepens | Financial Tribune
Turkey Crisis Deepens
The lira’s meltdown is not only hurting consumers’ sentiment and wallets, but it’s pushing corporate balance sheets closer to the abyss. Companies that borrowed heavily in foreign currencies now face a growing burden due to the tanking lira
More:Turkey Crisis Deepens | Financial Tribune
The lira’s meltdown is not only hurting consumers’ sentiment and wallets, but it’s pushing corporate balance sheets closer to the abyss. Companies that borrowed heavily in foreign currencies now face a growing burden due to the tanking lira
More:Turkey Crisis Deepens | Financial Tribune
Turkey’s Cratering Markets Stoke Speculation Over Extreme Measures - Bloomberg
Turkey’s Cratering Markets Stoke Speculation Over Extreme Measures
By Constantine Courcoulas , Onur Ant , and Tugce Ozsoy
Desperate measures are in the air in Turkey: Trading rooms are awash with talk of a bailout by the International Monetary Fund and potential capital controls. But there’s a vacuum at the core of economic policy making.
More:Turkey’s Cratering Markets Stoke Speculation Over Extreme Measures - Bloomberg
By Constantine Courcoulas , Onur Ant , and Tugce Ozsoy
Desperate measures are in the air in Turkey: Trading rooms are awash with talk of a bailout by the International Monetary Fund and potential capital controls. But there’s a vacuum at the core of economic policy making.
More:Turkey’s Cratering Markets Stoke Speculation Over Extreme Measures - Bloomberg
Tuesday, August 07, 2018
Turkey's borrowing costs hit record high as investors lose faith | City A.M.
Turkey's borrowing costs hit record high as investors lose faith
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Turkey's financial troubles deepened today as investors dumped its sovereign debt, pushing government borrowing costs to their highest on record amid a spiralling currency crisis.
More:Turkey's borrowing costs hit record high as investors lose faith | City A.M.
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Turkey's financial troubles deepened today as investors dumped its sovereign debt, pushing government borrowing costs to their highest on record amid a spiralling currency crisis.
More:Turkey's borrowing costs hit record high as investors lose faith | City A.M.
Turks Rally Behind Erdogan as Dispute with U.S. Deepens - The New York Times
Turks Rally Behind Erdogan as Dispute with U.S. Deepens
By Carlotta Gall
Aug. 7, 2018
ISTANBUL — In their recent encounter at the NATO summit meeting, President Recep Tayyip Erdogan of Turkey and President Trump gave each other a fist-bump, as Mr. Trump declared, “I like him, I like him.”
More:Turks Rally Behind Erdogan as Dispute with U.S. Deepens - The New York Times
By Carlotta Gall
Aug. 7, 2018
ISTANBUL — In their recent encounter at the NATO summit meeting, President Recep Tayyip Erdogan of Turkey and President Trump gave each other a fist-bump, as Mr. Trump declared, “I like him, I like him.”
More:Turks Rally Behind Erdogan as Dispute with U.S. Deepens - The New York Times
Escalating sanctions could cripple Turkey’s economy | Financial Times
Escalating sanctions could cripple Turkey’s economy
Russian example highlights the importance of an independent central bank
More:Escalating sanctions could cripple Turkey’s economy | Financial Times
Russian example highlights the importance of an independent central bank
More:Escalating sanctions could cripple Turkey’s economy | Financial Times
Ankara on Collision Course With Washington Over Iran Sanctions
Ankara on Collision Course With Washington Over Iran Sanctions
August 06, 2018 7:06 PM
Dorian Jones
ISTANBUL, TURKEY —
U.S. President Donald Trump's executive order Monday to introduce sanctions against Iran threatens to put Washington and Ankara on a collision course.
More:Ankara on Collision Course With Washington Over Iran Sanctions
August 06, 2018 7:06 PM
Dorian Jones
ISTANBUL, TURKEY —
U.S. President Donald Trump's executive order Monday to introduce sanctions against Iran threatens to put Washington and Ankara on a collision course.
More:Ankara on Collision Course With Washington Over Iran Sanctions
Turkish Banks' Ability to Extend Debt Is Key in Crisis - Bloomberg
Turkish Banks' Ability to Extend Debt Is Key in Crisis
By Asli Kandemir
August 7, 2018, 6:00 AM GMT+2 Updated on August 7, 2018, 8:12 AM GMT+2
U.S. sanctions, penalties are hitting confidence in Turkey
Costs for foreign-debt dependent Turkish firms are rising
Investors are watching closely to see whether Turkish banks will maintain access to the foreign funding they need to keep economic activity humming, as the economy is battered by U.S. sanctions, rating cuts, concern about a looming fine on a state bank and a plunging lira.
More:Turkish Banks' Ability to Extend Debt Is Key in Crisis - Bloomberg
By Asli Kandemir
August 7, 2018, 6:00 AM GMT+2 Updated on August 7, 2018, 8:12 AM GMT+2
U.S. sanctions, penalties are hitting confidence in Turkey
Costs for foreign-debt dependent Turkish firms are rising
Investors are watching closely to see whether Turkish banks will maintain access to the foreign funding they need to keep economic activity humming, as the economy is battered by U.S. sanctions, rating cuts, concern about a looming fine on a state bank and a plunging lira.
More:Turkish Banks' Ability to Extend Debt Is Key in Crisis - Bloomberg
Turkish lira stabilises after violent sell-off | Financial Times
Turkish lira stabilises after violent sell-off
Currency tumbled 4.7% to record low in previous trading day
The lira regained its footing a little on Tuesday after hitting a record low in a tumultuous day that threatened to deepen the country’s economic troubles.
More:Turkish lira stabilises after violent sell-off | Financial Times
Currency tumbled 4.7% to record low in previous trading day
The lira regained its footing a little on Tuesday after hitting a record low in a tumultuous day that threatened to deepen the country’s economic troubles.
More:Turkish lira stabilises after violent sell-off | Financial Times
Turkey’s economy struggles with new political reality
Turkey’s economy struggles with new political reality
Mustafa Sonmez August 6, 2018
Article Summary
Turkey’s economic downturn has only grown worse since President Recep Tayyip Erdogan assumed sweeping new powers after the June polls, as some observers fear that the economy might not be Ankara’s primary concern.
More:Turkey’s economy struggles with new political reality
Mustafa Sonmez August 6, 2018
Article Summary
Turkey’s economic downturn has only grown worse since President Recep Tayyip Erdogan assumed sweeping new powers after the June polls, as some observers fear that the economy might not be Ankara’s primary concern.
More:Turkey’s economy struggles with new political reality
We have damaged our party in a way AKP couldn’t - main opposition deputy chair | Ahval
We have damaged our party in a way AKP couldn’t - main opposition deputy chair
Turkey’s ruling Republican People’s Party (CHP) deputy chair has called for a self-criticism amid ongoing tensions in the party’s top tiers following the defeat it suffered in the June presidential and parliamentary elections, Russian Sputnik news reported.
More:We have damaged our party in a way AKP couldn’t - main opposition deputy chair | Ahval
Turkey’s ruling Republican People’s Party (CHP) deputy chair has called for a self-criticism amid ongoing tensions in the party’s top tiers following the defeat it suffered in the June presidential and parliamentary elections, Russian Sputnik news reported.
More:We have damaged our party in a way AKP couldn’t - main opposition deputy chair | Ahval
Monday, August 06, 2018
Turkish lira drops further as central bank injects liquidity into financial sector | Financial Times
Turkish lira drops further as central bank injects liquidity into financial sector
Turkey’s central bank on Monday said it would make an adjustment to its reserve policies aimed at bolstering the country’s banking sector amid ructions in the financial market — a move that nevertheless sent the lira plunging to fresh lows against the US dollar.
More:Turkish lira drops further as central bank injects liquidity into financial sector | Financial Times
Turkey’s central bank on Monday said it would make an adjustment to its reserve policies aimed at bolstering the country’s banking sector amid ructions in the financial market — a move that nevertheless sent the lira plunging to fresh lows against the US dollar.
More:Turkish lira drops further as central bank injects liquidity into financial sector | Financial Times
Erdogan opens Turkish lira to new line of attack – Business Recorder
Erdogan opens Turkish lira to new line of attack
Shoaib Ur Rehman Aug 6th, 2018 0
LONDON: President Tayyip Erdogan is engaged in too many squabbles for the Turkish lira’s good. He has already alienated global money managers, who worry that his influence is preventing the central bank from doing enough to curb inflation.
Now, relations with the United States have turned tetchy. The tougher the line that Erdogan takes with the world’s largest economy, the more investors will punish Turkish assets.
More:Erdogan opens Turkish lira to new line of attack – Business Recorder
Shoaib Ur Rehman Aug 6th, 2018 0
LONDON: President Tayyip Erdogan is engaged in too many squabbles for the Turkish lira’s good. He has already alienated global money managers, who worry that his influence is preventing the central bank from doing enough to curb inflation.
Now, relations with the United States have turned tetchy. The tougher the line that Erdogan takes with the world’s largest economy, the more investors will punish Turkish assets.
More:Erdogan opens Turkish lira to new line of attack – Business Recorder
Turkey’s Opposition Lost to Erdogan, Then It Lost Its Mind – Foreign Policy
Turkey’s Opposition Lost to Erdogan, Then It Lost Its Mind
Since the June election, the country’s various opposition parties have collapsed into chaos, leaving the president without a credible challenger.
More:Turkey’s Opposition Lost to Erdogan, Then It Lost Its Mind – Foreign Policy
Since the June election, the country’s various opposition parties have collapsed into chaos, leaving the president without a credible challenger.
More:Turkey’s Opposition Lost to Erdogan, Then It Lost Its Mind – Foreign Policy
Sunday, August 05, 2018
Driving Turkey into the Arms of Russia? - The Globalist
Driving Turkey into the Arms of Russia?
The convergence of Russian-Turkish interests is likely only of a temporary nature.
By James M. Dorsey, August 6, 2018
The Trump administration decision to sanction two key Turkish officials in retaliation for the continued detention of an American cleric is seen as driving Turkey, a longstanding NATO ally, into Russia’s hands.
More:Driving Turkey into the Arms of Russia? - The Globalist
The convergence of Russian-Turkish interests is likely only of a temporary nature.
By James M. Dorsey, August 6, 2018
The Trump administration decision to sanction two key Turkish officials in retaliation for the continued detention of an American cleric is seen as driving Turkey, a longstanding NATO ally, into Russia’s hands.
More:Driving Turkey into the Arms of Russia? - The Globalist
Erodgan fiddles with glee as Turkish lira goes down in flames | Yavuz Baydar | AW
Erdogan fiddles with glee as Turkish lira goes down in flames
With the Brunson case and US sanctions, Erdogan may have found the perfect way to divert the blame.
More:Erodgan fiddles with glee as Turkish lira goes down in flames | Yavuz Baydar | AW
With the Brunson case and US sanctions, Erdogan may have found the perfect way to divert the blame.
More:Erodgan fiddles with glee as Turkish lira goes down in flames | Yavuz Baydar | AW
Saturday, August 04, 2018
CHP’s in-house spat over extraordinary convention deepens
CHP’s in-house spat over extraordinary convention deepens
ANKARA
An in-house rift for leadership in the main opposition Republican People’s Party (CHP) is seemingly deepening as the two rival sides are disagreeing on the number of supporters demanding an extraordinary convention in which current chair Kemal Kılıçdaroğlu would be challenged by the defeated presidential candidate Muharrem İnce.
More:CHP’s in-house spat over extraordinary convention deepens
ANKARA
An in-house rift for leadership in the main opposition Republican People’s Party (CHP) is seemingly deepening as the two rival sides are disagreeing on the number of supporters demanding an extraordinary convention in which current chair Kemal Kılıçdaroğlu would be challenged by the defeated presidential candidate Muharrem İnce.
More:CHP’s in-house spat over extraordinary convention deepens
What is the Andrew Brunson row all about? | All media content | DW | 03.08.2018
What is the Andrew Brunson row all about?
The dispute over the detention of US pastor Andrew Craig Brunson has strained diplomatic ties between the US and Turkey. Who is Brunson, and why has President Recep Tayyip Erdogan's government put him behind bars?
More:What is the Andrew Brunson row all about? | All media content | DW | 03.08.2018
The dispute over the detention of US pastor Andrew Craig Brunson has strained diplomatic ties between the US and Turkey. Who is Brunson, and why has President Recep Tayyip Erdogan's government put him behind bars?
More:What is the Andrew Brunson row all about? | All media content | DW | 03.08.2018
Trump and Erdogan square up for a fight - The Washington Post
Trump and Erdogan square up for a fight
by Ishaan Tharoor August 3 Email the author
President Trump may have squabbled with Western European leaders on a trip to NATO headquarters last month and cast the European Union as a “foe,” but he displayed plenty of warmth for Turkish President Recep Tayyip Erdogan. According to one account, Trump “fist-bumped” his Turkish counterpart when they met in Brussels, praising a leader known for his authoritarian style as someone who “does things the right way.”
More:Trump and Erdogan square up for a fight - The Washington Post
by Ishaan Tharoor August 3 Email the author
President Trump may have squabbled with Western European leaders on a trip to NATO headquarters last month and cast the European Union as a “foe,” but he displayed plenty of warmth for Turkish President Recep Tayyip Erdogan. According to one account, Trump “fist-bumped” his Turkish counterpart when they met in Brussels, praising a leader known for his authoritarian style as someone who “does things the right way.”
More:Trump and Erdogan square up for a fight - The Washington Post
Erdogan officially appoints his new presidential chief adviser
Erdogan officially appoints his new presidential chief adviser
By Lida Filippakis / Published on: 03-08-2018, 09:39
The head of Turkey, Recep Tayyip Erdogan officially appointed on Thursday evening his new chief adviser, Fahri Kasirga, under the new presidential system.
More:Erdogan officially appoints his new presidential chief adviser
By Lida Filippakis / Published on: 03-08-2018, 09:39
The head of Turkey, Recep Tayyip Erdogan officially appointed on Thursday evening his new chief adviser, Fahri Kasirga, under the new presidential system.
More:Erdogan officially appoints his new presidential chief adviser
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