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admin 16, Aug 6 mins
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international africa

In typical fashion, US President Donald Trump made a hasty and surprising decision this month by imposing sanctions on two Turkish ministers.

The move – based on Trumps belief that the two ministers were responsible for the detention of US pastor Andrew Brunson, who faces terrorism-related charges in Turkey – has caused the Turkish lira to fall sharply against the dollar.

In a bid to contain the crisis, Ankara dispatched a delegation headed by the deputy Turkish foreign minister to Washington, but negotiations were fruitless. Making matters worse, Trump vowed to double steel and aluminum tariffs on Turkey, pushing the lira down even further. Since last week, the lira has lost a quarter of its value.

Global repercussions

Turkey has close financial ties with the European Union and is considered to be a rising economic power. Exacerbation of its economic crisis will not only affect Turkey, but also reverberate globally; effects are already visible on European stock markets and the value of the euro.

It is not yet clear whether statements in support of Turkey by European leaders such as German Chancellor Angela Merkel, along with measures undertaken by Turkeys central bank, will stop the liras hemorrhage. What is certain is that the Turkish economic crisis is multifaceted, and on the US side, a resolution is not likely anytime soon.

As Washington has rarely shown sufficient consideration for Turkish national interests, their bilateral alliance is far from stable

The liras value has been…

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international africa

In typical fashion, US President Donald Trump made a hasty and surprising decision this month by imposing sanctions on two Turkish ministers.

The move – based on Trumps belief that the two ministers were responsible for the detention of US pastor Andrew Brunson, who faces terrorism-related charges in Turkey – has caused the Turkish lira to fall sharply against the dollar.

In a bid to contain the crisis, Ankara dispatched a delegation headed by the deputy Turkish foreign minister to Washington, but negotiations were fruitless. Making matters worse, Trump vowed to double steel and aluminum tariffs on Turkey, pushing the lira down even further. Since last week, the lira has lost a quarter of its value.

Global repercussions

Turkey has close financial ties with the European Union and is considered to be a rising economic power. Exacerbation of its economic crisis will not only affect Turkey, but also reverberate globally; effects are already visible on European stock markets and the value of the euro.

It is not yet clear whether statements in support of Turkey by European leaders such as German Chancellor Angela Merkel, along with measures undertaken by Turkeys central bank, will stop the liras hemorrhage. What is certain is that the Turkish economic crisis is multifaceted, and on the US side, a resolution is not likely anytime soon.

As Washington has rarely shown sufficient consideration for Turkish national interests, their bilateral alliance is far from stable

The liras value has been…

MORE ARTICLES IN THIS CATEGORY

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In typical fashion, US President Donald Trump made a hasty and surprising decision this month by imp..
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Author: Thu, 2018-08-16 04:46 MAKKAH: King Salman received thanks from guests at Custodian of the..
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In typical fashion, US President Donald Trump made a hasty and surprising decision this month by imp..
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In typical fashion, US President Donald Trump made a hasty and surprising decision this month by imposing sanctions on two Turkish ministers.

The move – based on Trumps belief that the two ministers were responsible for the detention of US pastor Andrew Brunson, who faces terrorism-related charges in Turkey – has caused the Turkish lira to fall sharply against the dollar.

In a bid to contain the crisis, Ankara dispatched a delegation headed by the deputy Turkish foreign minister to Washington, but negotiations were fruitless. Making matters worse, Trump vowed to double steel and aluminum tariffs on Turkey, pushing the lira down even further. Since last week, the lira has lost a quarter of its value.

Global repercussions

Turkey has close financial ties with the European Union and is considered to be a rising economic power. Exacerbation of its economic crisis will not only affect Turkey, but also reverberate globally; effects are already visible on European stock markets and the value of the euro.

It is not yet…

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admin 16, Aug 6 mins
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international africa

In typical fashion, US President Donald Trump made a hasty and surprising decision this month by imposing sanctions on two Turkish ministers.

The move – based on Trumps belief that the two ministers were responsible for the detention of US pastor Andrew Brunson, who faces terrorism-related charges in Turkey – has caused the Turkish lira to fall sharply against the dollar.

In a bid to contain the crisis, Ankara dispatched a delegation headed by the deputy Turkish foreign minister to Washington, but negotiations were fruitless. Making matters worse, Trump vowed to double steel and aluminum tariffs on Turkey, pushing the lira down even further. Since last week, the lira has lost a quarter of its value.

Global repercussions

Turkey has close financial ties with the European Union and is considered to be a rising economic power. Exacerbation of its economic crisis will not only affect Turkey, but also reverberate globally; effects are already visible on European stock markets and the value of the euro.

It is not yet clear whether statements in support of Turkey by European leaders such as German Chancellor Angela Merkel, along with measures undertaken by Turkeys central bank, will stop the liras hemorrhage. What is certain is that the Turkish economic crisis is multifaceted, and on the US side, a resolution is not likely anytime soon.

As Washington has rarely shown sufficient consideration for Turkish national interests, their bilateral alliance is far from stable

The liras value has been…

MORE ARTICLES IN THIS CATEGORY

REGIONAL

In typical fashion, US President Donald Trump made a hasty and surprising decision this month by imposing sanctions on two Turkish ministers.

The move – based on Trumps belief that the two ministers were responsible for the detention of US pastor Andrew Brunson, who faces terrorism-related charges in Turkey – has caused the Turkish lira to fall sharply against the dollar.

In a bid to contain the crisis, Ankara dispatched a delegation headed by the deputy Turkish foreign minister to Washington, but negotiations were fruitless. Making matters worse, Trump vowed to double steel and aluminum tariffs on Turkey, pushing the lira down even further. Since last week, the lira has lost a quarter of its value.

Global repercussions

Turkey has close financial ties with the European Union and is considered to be a rising economic power. Exacerbation of its economic crisis will not only affect Turkey, but also reverberate globally; effects are already visible on European stock markets and the value of the euro.

It is not yet…

16
Aug
In typical fashion, US President Donald Trump made a hasty and surprising
6 mins 0
16
Aug
Author: Thu, 2018-08-16 04:46 MAKKAH: King Salman received thanks from guests at
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