'Turkey's partnership with United States 'in jeopardy'

'Turkey's partnership with United States 'in jeopardy'

Troy Powers
August 13, 2018

Turkish President Tayyip Erdogan yesterday said it was wrong of the United States to try to bring Turkey into line with threats, a day after US President Donald Trump doubled tariffs on metal imports from Turkey as the row between the two North Atlantic Treaty Organisation allies deepened. Since some of Turkey's debt is in dollars, it's also making the country's financial situation worse.

The kiwi lost 2 percent on Thursday after the Reserve Bank of New Zealand surprised the market by committing to holding rates at record lows until the end of 2020.

Erdogan repeated his call for Turks to sell dollars and buy lira to shore up the currency, while telling business owners not to stock up on dollars.

"We will implement a necessary fiscal rule if circumstances require", Albayrak added.

Turkish President Recep Tayyip Erdogan on Sunday slammed the crash of the lira amid a widening spat with the United States as a "political plot" and said his country would instead seek new markets and new allies. "If there are dollars under your pillow, take these out".

"The price of the food that I buy increases day by day, the fuel that I put in my vehicle to distribute lunches is more expensive, but I can not raise my prices from one day to the next", she said. "You should know that to keep this nation standing is. also the manufacturers' duty".

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Relations between the two North Atlantic Treaty Organisation allies have taken a turn for the worse amid dispute over the detention in Turkey of USA evangelical pastor Andrew Brunson on terrorism charges. Since then, U.S. President Donald Trump and Vice-President Mike Pence have called for his release, while Ankara says the decision is up to the courts.

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". In particular, were already imposed personal sanctions on the Turkish Ministers of justice and internal Affairs. Trump tweeted Friday that the U.S. -Turkey ties "are not good at this time!".

Washington slapped sanctions on Turkey's interior and justice ministers this week, angering Ankara which responded with the tit-for-tat move, with Turkey saying they will freeze the assets of the U.S. "justice and interior ministers" last week. "You dare to sacrifice 81-million Turkey for a priest who is linked to terror groups?"

Trump has described the pastor's detention as a "total disgrace" and urged Erdogan to free him "immediately".

But analysts say that while there may be losses at some banks, Turkey's economic problems do not pose a big threat to Europe or other big economies like the United States.

A delegation led by Turkish Deputy Foreign Minister Sedat Onal failed to secure a deal last Wednesday in talks in Washington on a number of issues including Brunson.