The Prime Minister of Italy and the Chancellor of Germany defend Macron in the “war” with Sultan Erdogan. Turkish lira, record depreciation, due to geopolitical tensions



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“President Erdogan’s statements to President Macron are unacceptable,” Conte wrote in French in a Twitter post.

German Chancellor Angela Merkel has called President Recep Tayyip Erdogan’s attacks on his French counterpart Emmanuel Macron “defamatory” after the French’s remarks on Islam, a German Chancellery spokesman announced on Monday, BFMTV reports.

“These are defamatory and unacceptable statements,” especially in the context of the “horrible murder of French professor Samuel Paty by an Islamic fanatic,” Steffen Seibert said after Erdogan questioned his “mental health.” Macron.

“All we can say about a head of state treating millions of members of different religious communities is: go first and take mental health screenings,” Recep Tayyip Erdogan said in a televised speech on Saturday. , referring to Emmanuel Macron.

“What problem does the man named Emmanuel Macron have with Islam and Muslims?” The Turkish president expressed his indignation.

On Wednesday, in homage to Samuel Paty, the beheaded professor of history and geography from Conflans-Sainte-Honorine after showing his students in classes on freedom of expression, cartoons of the prophet Muhammad published by the satirical magazine of Charla Hebdo, Emmanuel Macron , promised “not to give up cartoons” in the name of freedom of expression.

President Recep Tayyip Erdogan urges the Turks to stop buying French goods and urges European leaders to stop the “anti-Islamic” agenda of French President Emmanuel Macron.

“Just as in France some people say ‘don’t buy Turkish marks’, I address my nation here: especially don’t pay attention to French marks, don’t buy them,” Erdogan urged in a speech in Ankara.

The Turkish president compared the treatment of Muslims in Europe with that of Jews before World War II.

Erdogan accused some European leaders of “fascism” and “Nazism”.

“A lynching campaign similar to that of Jews before World War II is about to be waged against Muslims,” ​​denounced the Turkish head of state.

With this call, Turkey joins countries such as Qatar, Kuwait or Jordan, which urges a boycott of French products due to the cartoons of the prophet Muhammad.

Diplomatic relations between Turkey and France continue to deteriorate.

Diplomatic tensions between the two countries have risen after Erdogan questioned Macron’s mental health as a result of heightened surveillance of Islamist propaganda in France following the beheading of Professor Samuel Paty.

President Erdogan has said that Emmanuel Macron has a problem with Muslims and that he must check his “mental health”, statements that led to the removal of the French ambassador from Ankara.

“As they say: Do not buy Turkish products in France, I urge all my citizens to never buy French products again,” Erdogan told Reuters.

France ranks 10th among the countries where Turkey imports products and 7th among exporting countries to the Turkish economy, according to the Turkish Institute of Statistics. French cars are among the best-selling cars in Turkey.

The French head of state ordered swift “concrete action” against radical Islamist propaganda online and “called for swift action and no respite for those who organize to oppose the republican order,” the Elysee Palace said at the end. a meeting with six ministers and the national antiterrorist prosecutor, Jean-François Ricard.

History and geography professor Samuel Paty, 47, was beheaded near the university where he teaches in a quiet Conflans-Sainte-Honorine neighborhood on the western outskirts of Paris. The attacker, Abdoullakh Anzorov, an 18-year-old Russian refugee of Chechen origin.

Turkey on Monday condemned the “monstrous murder” of Professor Samuel Paty, who was beheaded in a jihadist attack after showing cartoons of the Prophet Muhammad in the satirical magazine Charlie Hebdo on Monday after being accused of silencing him. AFP.

“We strongly condemn the monstrous assassination of Samuel Paty and reject this barbarism. This assassination cannot be justified in any way,” said a spokesman for the Turkish presidency, Ibrahim Kalin, in a message posted on Twitter.

The Turkish lira depreciated to an all-time high against the dollar due to geopolitical tensions.

Turkey’s currency is depreciating to an all-time high, trading at eight pounds against the dollar for the first time, deteriorating relations with France and the United States, increasing fears about how Turkish President Recep Tayyip Erdogan handles the economy affected by the coronavirus pandemic (Covid -19), writes Reuters.

On Monday morning, the Turkish currency was trading at 8.0515 pounds / USD, after it was trading at 7.9650 pounds / USD on Friday. The pound also hit a record low against the euro, trading at 9.50 pounds / euro.

The Turkish lira depreciated 1% on Monday and since the beginning of the year the loss is 26%. Turkey’s financial markets are also under pressure, with the Istanbul Stock Exchange’s Bist 100 index falling 2% on Monday.

Recep Tayyip Erdogan on Sunday defied Washington’s threats of possible sanctions against his country following the acquisition and testing of Russia’s S-400 anti-aircraft systems. “Whatever your sanctions are, don’t delay in applying them,” Erdogan said in a televised speech in the city of Malatya. “You tell us to send S-400 (missiles). But we are not a tribal state, we are Turkey,” he added.

The United States has warned that relations with Turkey, an official ally in NATO, could be severely affected by recent S-400 missile tests conducted by the Turkish military, and Washington even pushing for sanctions to be imposed.

Also on Saturday, the Turkish president fiercely criticized the attitude of his French counterpart Emmanuel Macron towards Muslims, even questioning “their mental health”, and called for “a boycott of French products in Muslim countries.”

Tensions between Turkey, the European Union and the United States have exacerbated fears about how Recep Tayyip Erdogan runs the economy. In recent years, the Turkish president has gained unprecedented control over the country’s institutions, including the Central Bank of Turkey (CBRT).

The institution disappointed investors last week, defying hopes that it will raise the interest rate to 12%, a decision that analysts say would have helped boost the Turkish lira and restore investor confidence. On the other hand, the CBRT kept the interest rate at 10.25%.

Last month, the financial rating agency Moody’s Investors Service downgraded Turkey’s rating from “B2” to “B1”, warning that the country’s external vulnerabilities are likely to trigger a balance of payments crisis and erode fiscal reserves. .

Moody’s also maintained the negative outlook attributed to Turkey’s rating, noting that fiscal indicators could deteriorate faster than currently estimated, notes Reuters, assumed by agerpres.ro.

“As risks to Turkey’s credit profile increase, the country’s institutions appear unable or unwilling to effectively address these difficulties,” the agency said in a statement.

Financial rating agency Fitch also revised Turkey’s rating outlook from “stable” to “negative”, saying that falling foreign reserves and low credibility of monetary policy have exacerbated external financing risks.

In parallel, Fitch confirmed the country’s rating of Turkey at “BB minus”, three steps below the investment grade level (recommended for investments, no).

Fitch forecasts that Turkey’s economy will contract 3.9% in 2020 but grow again 5.4% in 2021, supported by return on investment and tourism, as well as a boost in exports.

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