Monday, October 15, 2018
Home /  FIRSTPAGE  /  Erdogan vows to confront economic war

Erdogan vows to confront economic war

Erdogan vows to confront economic war


Agencies
ISTANBUL
Turkish President Recep Tayyip Erdogan on Friday called on Turks to support the struggling lira by exchanging any foreign money, saying Turkey faced"an economic war".
"If you have dollars, euros or gold under your pillow, go to banks to exchange them for Turkish lira. It is a national fight," Erdogan said in comments broadcast on national television.
"They have declared a financial and economic war against us and we have to face them as we faced the coup attempt on July 15, 2016," Erdogan said.
"This will be the response to those who have declared an economic war," blaming Turkey's woes on what he described as an"interest rate lobby" seeking to push the country to higher rates.
The Turkish president added that his country has no problem with revenues or exports and that the pound is witnessing an unjustified decline due to political influence.
"I say to the currency groups not to rejoice. Those who fight against Turkey will regret sooner or later."
Erdogan said supporters of a failed military coup two years ago were attacking Turkey in new ways since his re-election two months ago to a new executive presidency.
The new tariffs on Turkey are double the level that Trump imposed in March on steel and aluminium imports from a range of countries. The White House said he had authorised them under Section 232 of US trade law, which allows for tariffs on national security grounds.
"Some countries have engaged in a behaviour that protects coup plotters and knows no laws or justice," he said, adding that"relations with countries who behave like this have reached a point beyond salvaging."
Turkey's Foreign Ministry warned that Trump's move to double the tariff on Turkish steel and aluminium would harm ties, vowing retaliation against a measure it said was against WTO rules.
"The US should know that the only result that such sanctions and pressure will bring... will be harming our relationship as allies,"the foreign ministry said in a statement.
"As with all measures taken against Turkey, the necessary response will be given," it said, adding the move"disregarded" rules of the World Trade Organisation (WTO).
In a show of support for Turkey, Ahmed bin Saeed al Rumaihi, Director of Information Office at Qatar's Ministry of Foreign Affairs, said this is a dirty war against Erdogan.
"It is not surprising that the Zionists of the Arabs, and especially the blockading countries, are behind the collapse of the Turkish lira. What is happening is a reflection of political machinations and a dirty war against Erdogan."

Subscribe to our Whatsapp Service

POST A COMMENT