techkenyot.com
techkenyot.com August 16, 2018


Erdogan says crash of lira ‘political plot’ against Turkey

13 August 2018, 06:30 | Hattie Nash

Reverberations spread through global financial markets, with European stock markets especially hit as investors took fright over banks' exposure to Turkey.

Turkey's lira extended its precipitous slide on Monday after the nation's president showed no signs of backing down in a standoff with the US.

Erdogan is also upset at the protection United States coalition forces are providing the Kurds in Syria, against the invading Turkish army.

"The aim of the operation is to make Turkey surrender in all areas from finance to politics".

"We implore President Trump to return to the negotiating table", Trade Minister Ruhsar Pekcan said.

But President Recep Tayyip Erdogan, who had remained unusually silent until the lira crisis deepened, urged his fellow countrymen to take matters into their own hands.

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She also claims without evidence that tapes exist of the president using the N-word repeatedly on the reality show's set. And she still went to work for him. "All we need to remember is that Trump loves the hate", she writes in the book.

US President Donald Trump on Friday announced the US was doubling tariffs on steel and aluminium imports from Turkey, saying relations with Ankara were "not good at this time".

The Turkish lira has lost about 40 per cent of its value this year, largely over worries about Mr. Erdogan's influence over the economy, his repeated calls for lower interest rates in the face of high inflation and worsening ties with the United States.

Adding to Turkey's problems, the Trump administration doubled tariffs on the country's steel products on Friday.

Last week, the U.S. imposed sanctions on Turkey's justice minister and interior minister for refusing to release American pastor Andrew Brunson, who had been in custody since 2016 on charges of terrorism and espionage that Washington says are bogus.

After losing around 18% against the U.S. dollar on Friday the lira plunged another 10% as Asian currency markets opened on Monday at 7am AEST.

"As he stated, the president has authorized the preparation of documents to raise tariffs on imports of steel and aluminum from Turkey", White House Deputy Press Secretary Lindsay Walters said.

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That haul includes four Champions League wins, nine La Liga crowns and six Copas del Rey, as well as a record five Ballons d'Or. It had been thought the Spanish Super Cup was the same but Sevilla said they would object to "an improper line-up".

"They have been trying to achieve what they failed to do through provocations and a coup attempt with money now", he said.

Turkish market shares of the total Egyptian exports is about 5%, which is a very modest share, said Mohamed Abu Basha, head of macroeconomic analysis at the Cairo-based investment bank EFG-Hermes, noting that the Turkish Lira slump is a big issue, which Turkish authorities will find huge difficulties to deal with. Gulen has denied the allegation.

Andrew Craig Brunson, an evangelical pastor from Black Mountain, North Carolina, arrives at his house in Izmir, Turkey, in July.

Jay Sekulow, an attorney for Trump who is also representing Brunson's family, told talk-show host and political commentator Sean Hannity's radio program on Friday: "We're close to getting a resolution in that case".

After Mr. Brunson had been in jail for nearly 20 months, a court in July ordered him to be moved to house arrest.

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