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President Erdogan says crash of lira ‘political plot’ against Turkey

President Erdogan says crash of lira ‘political plot’ against Turkey

Reports about the fall of the Lira by 18% appeared after the President of the United States Donald trump ordered to double tariffs on imports from Turkey of steel and aluminum. Since some of Turkey's debt is in dollars, it's also making the country's financial situation worse.

In an interview with the newspaper Hurriyet, Treasury and Finance Minister Berat Albayrak also said the government had no plans to seize foreign currency deposits or convert deposits to the Turkish lira. "With God's permission we will overcome this".

"There is no economic reason for the present (currency plunge) situation".

Turkish President Recep Tayyip Erdogan urged its citizens to sell foreign currency to support the Lira, which has lost its value.

"Change the euros, the dollars and the gold that you are keeping beneath your pillows into lira at our banks. You should know that to keep this nation standing is. also the manufacturers' duty".

The two North Atlantic Treaty Organization (NATO) allies have been at odds over a wide range of issues: diverging interests in Syria, Ankara's ambition to buy Russian defence systems and more recently the case of Andrew Brunson, an evangelical pastor on trial in Turkey.

Turkish President Recep Tayyip Erdogan on Saturday warned the United States that it risked losing a "strategic partner" due to demands made by the U.S. government that Turkey release an American pastor who was arrested on terrorism charges.

Saudi Arabia appears to threaten Canada in Tweet
Saudi's foreign ministry called the statement "a major, unacceptable affront to the kingdom's laws and judicial process". The report also said all Saudi Arabian students now studying in Canada will be transferred to other countries.

"We will give our answer, by shifting to new markets, new partnerships and new alliances", said Erdogan, who in recent years has built closer ties with countries in Latin America, Africa and Asia.

He further added that the only response to a country which chooses to sacrifices its strategic partnership and a half century alliance with a state with a population 81 million for the sake "terror groups" is "good-bye". "You dare to sacrifice 81-million Turkey for a priest who is linked to terror groups?"

He indicated Turkey's relationship with Washington was imperiled.

As a result of US sanctions, any property or interest in property of both Turkish ministers within USA jurisdiction is blocked, and US persons are generally prohibited from engaging in transactions with them.

This day, the spokesman of the Turkish government, Ibrahim Kalin, assured that these actions will not be able to bring down their country, but will isolate the United States even more in the global context.

Turkey and the United States are now experiencing rocky relations after the US imposed sanctions last Wednesday on two Turkish ministers over the continued detention of USA pastor Andrew Brunson, who faces terrorism charges and up to 35 years in prison if found guilty.

A Turkish delegation visited Washington for talks this week but left with no signs of a breakthrough.

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