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Erdogan Calls Lira’s Collapse ‘Currency Plot’ Amid Spat With Washington

  • Erdogan Calls Lira’s Collapse ‘Currency Plot’ Amid Spat With Washington
    Earlier, in response to Washington’s move to double the steel and aluminum tariffs already in place against imports from Turkey, President Recep Tayyip Erdogan said in a speech that while the US has its dollars, “Turkey has its God.”

    Erdogan has called lira’s tumble a “currency plot,” noting that “those who move the currency think that they can destroy Turkey.” Earlier in the day, addressing supporters in the Turkish town of Unye, the president urged people in Turkey to sell dollars and euros to support Turkish lira. “It is wrong to dare bring Turkey to its knees through threats over a pastor,” Erdogan stressed.

    The Turkish President stated the recent US policy toward its strategic ally Ankara “annoyed, upset” the country. “I am calling on those in America again. Shame on you, shame on you. You are exchanging your strategic partner in NATO for a priest,” the president added.

    Following Washington’s announcement, the exchange rate of the Turkish lira reached the all-time low, collapsing by more than 16 percent to the US dollar. Earlier, US President Donald Trump authorized a doubling of tariffs on steel and aluminum imports from Turkey.

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August 14, 2018 - Posted by | Economics, GeoPolitics | , , , , , , , , ,

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