In public, Erdogan shows no sign of listening. Tells reporters: “Turkey is flying, but there are those who are blind to this reality.”
Turkey's currency dazed at all-time low, but saved by the bell. With dire warnings that a full-blown balance of payments crisis is approaching, banking regulator makes some concessions to international investment banks.
Erdogan officials end day still with some measure of control on currency but strategists suggest they may be running out of ammunition.
Government has since June been claiming new cases are running at around 1,000 a day. The medics say that Ankara alone is suffering nearly 1,000 a day.
The growth “will help to claw back some of the output lost” during the pandemic-triggered downturn “but will have to be sustained for a longer period for a full recovery to be secured”, says IHS Markit.
And let’s not forget… Boris Johnson “is a Turk”, while Dmitry Peskov is a Turkologist.
There is no end to the COVID-19 pandemic in sight, but the new normal that will emerge could benefit the countries of Central Eastern and Southeastern Europe (CESEE), due to the new opportunities that will arise.
Robustness of country’s banks also scrutinised with observers fearing a perfect storm scenario ahead of ‘Currency Crisis II’.
Union says “closed circuit working system”, introduced after some employees tested positive for COVID-19, is unlawful and inhumane. Workforce told to live in company barracks.
Outrage as Turkish parliament passes “chilling” law that “will lead to identifying dissenters”.
The outbreak of a fresh military conflict on the Armenian and Azerbaijani border is straight out of a James Bond film and threatens both the region’s and Europe’s energy security among other things
Officials scramble to build new wall to defend currency after it escapes narrow range versus dollar that held sway for two months. Amid jitters, Grand Bazaar free market rates make a return.
Ankara attempting to export “very destabilising” presence it has shown in eastern Mediterranean, North Africa and Middle East to South Caucasus says Yerevan’s envoy to Netherlands.
Spanish foreign minister was in Ankara attempting to ease tensions over eastern Mediterranean drilling plans that have upset Greece and Cyprus.
Erdogan wants Islamised one-party state says academic.
National lender's approach makes a nonsense of relying on its headline policy rate.
New poll, meanwhile, determines country can only expect U-shaped recovery from COVID-19 crisis and will this year suffer first GDP contraction for a decade.
Analyst concludes: “We think rates will now be left on hold for the next couple of years. But given high rates of inflation as well as the lingering threat of renewed falls in the lira, the risks are skewed towards tighter policy.”
“It’s a tinderbox” says analyst who determined projections of civil unrest and ability of countries to bounce back from pandemic.
Announcement comes after vote by Egyptian parliament to give green light to possible military intervention.