Relations with Turkey are not good!

11 August, 2018, 03:13 | Author: Billie Castillo
  • Turkey fails to resolve disputes with US

BBVA, which reported a lowly CET 1 ratio of 10.8 percent at the end of the first half, also said a 10 percent slump in the lira would shave 2 basis points off its core capital. It had been billed as a state visit that would patch up frayed ties between two North Atlantic Treaty Organisation allies and potentially serve as a platform for Turkey to make overtures toward Europe after months of strained relations. Turkish officials held talks in Washington this week but there was no breakthrough.

The slump is attributed to the tensions with the U.S. and concerns about President Recep Tayyip Erdogan's control of monetary policy.

The latest tariffs stem from the trade fight Trump launched earlier this year with several countries, including Turkey, according to the Washington Post.

Turkey had made important progress with other countries, he said, naming Iran, Russia, China and "some European countries", Erdogan said, adding that increasing production, exports and employment was the best response to the country's challenges.

World stock markets fell Friday, particularly in Europe, as investors anxious about the financial stability of Turkey, where the currency has nosedived.

"If you have dollars, euros or gold under your pillow, go to banks to exchange them for Turkish lira", he said on national television.

But President Erdogan brushed off any concerns during a speech in the northeastern city of Bayburt on Friday, saying: 'The dollar can not block our path.

But Aykan Erdemir, of the Foundation for Defense of Democracies, said Mr Trump's tariffs announcement comes "at the worst possible time for Mr Erdogan" and fits with USA strategy to increase pressure on Ankara until Mr Brunson is released.

New Fix PUBG Initiative Started By Battlegrounds Developer
PUBG has honestly taken its own sweet time to fix the stability issues in the game which gave much ground to Fortnite . However, developer PUBG Corp is determined to fix the game and has revealed a roadmap for Fix PUBG .

Erdogan called on Turks to not be concerned about exchange rate movements, mockingly declaring "the dollar, the mollar will not cut our path".

The news comes as tensions between the United States and Turkey continue to grow over the North Atlantic Treaty Organisation ally's continued detainment of Pastor Andrew Brunson.

The lira has now lost over a third of its value against both the dollar and the euro this year, with the currency battered by both concerns over domestic economic policy and the political situation.

The lira fell further as Erdogan spoke.

Brunson's charges include spying for the PKK, listed as a terrorist group by both the USA and Turkey, and the Fetullah Terrorist Organization (FETO), the group behind the defeated coup attempt in Turkey of July 2016.

The United States is the world's biggest steel importer.

'However, I say it once again from here. "Don't heed them", Erdogan said Thursday. Erdogan has been putting pressure on the central bank to not raise interest rates in order to keep fueling economic growth. The White House said he had authorized them under Section 232 of US trade law, which allows for tariffs on national security grounds. Hard currency debt issued by Turkish banks suffered similar falls.

Erdogan's decision to name his son-in-law as finance minister also made people wonder about the direction of the country's economic policy.

Recommended:



Popular

The Nintendo Switch's Online Service Arrives Late Next Month
For as close as we are to Nintendo Switch Online's launch, there are still some crucial details that are unknown. Nintendo Switch Online is cheaper than PlayStation Plus, and Xbox Live Gold.

Kylie Jenner family mural has Scott Disck, not Tristan Thompson
Now, baby Stormi is back and the latest pic of her posted to Kylie's Instagram proves she's already model material and that she's got that Kardashian/Jenner flair.

Whole state gripped by 'one of worst droughts'
Australia's most populous state is now "100 percent" in drought following the most intense dry spell in more than 50 years. Australia has long dealt with harsh, dry conditions, especially inland, away from coastal areas popular with tourists.

Trump Doubles Tariffs on Turkish Steel, Aluminum Imports
As the crisis swelled he told his supporters not to worry. "Our relations with Turkey are not good at this time! " he noted. Last week, he called on Turks to convert their foreign currency and gold into Turkish lira to help the currency.

IPhone X smokes Galaxy Note 9 in speed tests
Available in 42mm and 46mm sizes, it has a 360×360 AMOLED display that's scratch resistant and is water-resistant up to 5ATM. But we were impressed with the Gear Sport's 300mAh battery, as it lasted about three full days on a single charge.

Omarosa Claims She Walked In On Trump Eating Paper In Oval Office
Newman claims in her book that her former boss, President Donald Trump , is a racist who has repeatedly used the N-word. Omarosa says she rejected the offer. "It must have been something very, very sensitive", she writes in her book.

Lawyer: Ohio State never contacted Courtney Smith
Meyer added that there were "more questions to be answered" and he pledged to "cooperate fully" with investigators hired by OSU. It's unclear, of course, if the smaller raise had anything to do with the domestic violence accusations against Smith in 2015.

Maybe It's Time Apple Ditched Lightning for USB
The EU will reportedly commence a study to decide whether there's a need for new action, whilst analysing the effect of other options.

Cleveland Browns: 3 surprises from HBO premiere of ‘Hard Knocks’
Landry was tweeting during the episode, and here's what he said immediately after his speech aired. But that doesn't mean they won't be a compelling team to follow for Hard Knocks .

Bolt to train with A-League side Central Coast Mariners
He remains the world record holder at the 100m - with a time of 9.58 seconds - and the 200m, where he has clocked 19.19 seconds.