Tag: Recep Tayyip Erdogan

Five Things to Watch For at the G-20 Summit

The G-20 summit in Buenos Aires, Argentina, on Friday and Saturday could be the scene of a few momentous encounters as world leaders meet – or refuse to meet – and major strategic conflicts play out. Here are five things to watch for as the summit unfolds. Trump and Putin: The possibility of a meeting […]

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Freed Pastor Andrew Brunson: ‘This Is the Day Our Family Has Been Praying For’

A Turkish court ruled to free Pastor Andrew Brunson on Friday after two years of detention on Friday. He is reportedly on his way home to North Carolina. “We are grateful for the President’s commitment and efforts in securing my release,” Brunson said in a statement released by the American Center for Law and Justice (ACLJ), […]

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Lira rallies as Turkey pledges spending cuts to avoid IMF bailout

Turkey’s finance minister sparked a recovery in the lira after he addressed thousands of international investors, pledging to protect beleaguered local banks and cut public spending to prevent the country defaulting on its loans. Berat Albayrak, who has faced criticism for failing to tackle the country’s growing financial crisis, spoke to around 6,000 investors on […]

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Turkish lira rallies as Qatar makes $15bn loan pledge

Turkey’s beleagured currency has bounced back from record lows after Qatar pledged to shore up the banking sector’s shaky finances with loans worth $15bn (£11.8bn). A week after a diplomatic spat with the US sent the lira into a tailspin, the agreement with Qatar was calculated to help Turkey avoid having to ask the International […]

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Turkish lira crisis: Turkey raises tariffs on US goods – business live

Artjom Hatsaturjants, research analyst at Accendo Markets, says investors are nervous over the “geopolitical back-and-forth between US and Turkey”. Neither side appears ready to back down over recent confrontation that sent the Turkish lira to new lows and raised a spectre of FX contagion across Europe. The turmoil in Turkey is testing stock market morale […]

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Erdoğan says Turkey will boycott US electronic products

Recep Tayyip Erdoğan has said Turkey will boycott electronic products from the US, as he issued another defiant response to sanctions imposed in a dispute over the detention of an American evangelical pastor. The US measures have accelerated a currency crisis in Turkey, though the lira rallied slightly on Tuesday from a low of seven […]

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U.S. Embassy in Turkey Denies Pastor Andrew Brunson Will be Released

The U.S. Embassy in Ankara has denied reports that American pastor Andrew Brunson will be released from house arrest and allowed to return back to the United States. According to an official who spoke with Reuters, reports that emerged on social media indicating that Brunson would be released are false. The news comes just two weeks […]

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Turkish lira record low ripples through global currency markets

A fresh plunge in the Turkish lira sent tremors through global currency markets on Monday, amid fears that the failure of Recep Tayyip Erdogan’s government to tackle its worsening financial crisis would have a domino effect on other vulnerable countries. Argentina’s central bank raised its key interest rate by five percentage points to 45% following […]

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Erdoğan’s high-risk path is surely leading Turkey to the IMF | Nils Pratley

There is not an easy way for Turkey to escape its financial crisis but three measures that might contain the coming pain would be these. First, raise interest rates to try to put a floor under the plunging lira. Second, tone down the bellicose rhetoric and certainly don’t pick new fights with the US. Third, […]

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Trump misunderstanding over prisoner fuelled lira crisis – Ankara sources

The currency plunge imperilling Turkey’s economy has been fuelled by a standoff between Donald Trump and Recep Tayyip Erdoğan over the fate of a Turkish woman detained in Israel whose freedom the US president brokered, and an American pastor held in Turkey whose release he demands in return, officials in Ankara have claimed. Turkish leaders […]

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How serious is Turkey’s lira crisis and what are the implications?

How serious is Turkey’s crisis? Bad and getting worse by the day. Over the past five years, Turkey’s growth has been virtually keeping pace with that of China and India but it is now displaying the classic signs of overheating: a large trade deficit, a construction boom and soaring debt. Financial markets have taken fright […]

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Global markets braced for hectic trading as Turkish crisis unfolds

Global markets are braced for another hectic day of trading amid Turkey’s unfolding economic crisis after the country’s currency, the lira, plunged 20% to record lows on Friday. Recep Tayyip Erdoğan, Turkey’s president, remained defiant over the weekend, accusing foreign interests of waging an economic war against Turkey and pledging trade measures to reduce reliance […]

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Erdogan calls on Turks to buy lira ‘in response to economic war’ – video

Recep Tayyip Erdoğan tried to restore confidence in the Turkish lira after it plunged by more than 20% against the dollar on Friday. The sudden drop came when Donald Trump announced on Twitter he was doubling US import tariffs on Turkish steel and aluminium. The Turkish president called on Turks to exchange dollars, euros and […]

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Welcome to the New U.S.–Turkish Relationship

Sanctioning another NATO ally is a remarkable move. As such, the Trump administration’s sanctions on Turkey’s justice and interior ministers last week, over the detention of American pastor Andrew Brunson, increased fears about the unraveling of a formerly strong alliance. Meetings between senior U.S. and Turkish officials in Washington on Wednesday failed to resolve the […]

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Israel Confirms Trump Helped with Turkish Detainee’s Release to Free Pastor Brunson

Israel on Friday confirmed U.S. media reports that President Donald Trump asked Israeli Prime Minister Benjamin Netanyahu during a July 14 phone call to release Ebru Özkan, a Turkish woman accused of Hamas ties, in exchange for Turkey’s release of imprisoned American Pastor Andrew Brunson, who has been detained on terror and espionage charge. Turkey had […]

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Religious Freedom Commissioners Hopeful American Pastor Jailed in Turkey Will Be Freed

Two members of the United States Commission on International Religious Freedom (USCIRF) said on Wednesday that the news that Turkish authorities have placed American pastor Andrew Brunson in house arrest is a good sign that his almost two-year detention from alleged terrorism charges could be coming to a close. The members made their remarks on […]

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What a Soccer Scandal Says About Dog-Whistle Politics

Mesut Özil, one of the best soccer players of his generation, born and raised in Gelsenkirchen, helped lead Germany to victory in the 2014 World Cup. Four years later, he has announced after months of controversy that he will never again play for the German national team. Özil says the issue is racism. His critics […]

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Putin to Meet Iran’s Rouhani, Turkey’s Erdogan in Tehran for Syria War Talk

The Iranian government claimed Friday that Russian President Vladimir Putin will “soon” head to Tehran to meet Iranian President Hassan Rouhani and Turkish President Recep Tayyip Erdogan to discuss the status of Syria’s civil war. Iran’s state-run Mehr News agency reported on Friday that Ali-Akbar Velayati, Senior Aide to Iran’s Supreme Leader Ayatollah Ali Khamenei, […]

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Erdogan Uses Violence to Contain Istanbul Gay Pride Parade

LGBT Turks staged a gay pride rally Sunday in Istanbul despite warnings by police that the event was not legal, after reportedly coming to a last-minute agreement to allow a smaller gathering. Police nonetheless attacked congregants with rubber bullets and arrested at least five, ending the event the same way it has for the past […]

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