Standard & Poors (S&P) warned on Wednesday that the conflict in Syria could potentially increase the credit rating risks of neighbouring sovereigns. The conflict is leading to geopolitical tensions, refugee flows, trade restrictions, and possible spillover effects that could pose difficulties for Syrias neighbours, including Turkey, S&P said. Turkeys size and resources inoculate the sovereign rating (foreign currency BB/Stable B) from the direct fiscal, political, or security risks emanating from Syria, nonetheless in the improbable scenario of rapidly escalating security problems, there are tail risks that could have a material impact on its sovereign ratings, S&P said. The rating agencys base-case scenario is that the Syrian conflict will remain a civil war predominantly contained within its borders. |
The jailed leader of the PKK, Abdullah Ocalan, called for a ceasefire on Thursday, ordering armed PKK militants to withdraw from Turkey. Hundreds of thousands of people gathered in the city of ... more
The Syrian government said the rebel groups foreign supporters, Turkey and Qatar, were responsible for a chemical attack in Aleppo. The countries that back and support the rebels, including ... more
US secretary of state John Kerry was in Ankara on Friday for talks with the Turkish leaders, including PM Recep Tayyip Erdogan and President Abdullah Gul, focused on the crisis in Syria, ... more