Erdogan: Turkey to retaliate if economic war is waged

Economy | Politics 8/10/2018, 2:21 PM
Erdogan: Turkey to retaliate if economic war is waged

Turkish President Recep Tayyip Erdogan stated on Friday that Ankara will retaliate with equal measures on any country that decides to wage an economic war on Turkey, local media reported. During his speech, the leader stressed that his country was facing "a wave of artificial financial instability" and that the attacks were based on "simple difference of opinions," referring to Washington's most recent move.

Erdogan highlighted that despite the rising tensions between the United States and Turkey amid an ongoing dispute over American Pastor Andrew Brunson, the domestic economy remains strong and that there are no issues with Turkish macroeconomic data and its banking system. The president added that Ankara is "prepared against all negativities" and that the interest rate lobby "won't be able to crush this nation."

The case of pastor Andrew Brunson from the United States, who is in house arrest in Turkey, was the latest stumbling point in bilateral relations, and led to sanctions against officials on both sides. The two governments are also at odds over Erdogan's cooperation with Russia and Iran, particularly regarding Turkey's intervention in Syria.

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Chart for: USD/TRY Spot


Chart for: EUR/TRY Spot