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Erdogan slams United States for preferring terrorists as partner

13 August 2018

His assurance came after Turkey's president blamed the lira's plunge on a plot against the country.

"The aim of the operation is to make Turkey surrender in all areas from finance to politics".

Albayrak also said a plan has been prepared for banks and the real economy sector, including small to mid-sized businesses which are most affected by the foreign exchange fluctuations.

"All our action plan and measures are ready", he said, but did not provide details on what those steps would be.

The Turkish economic situation is very critical, as political issues pushed the economy to suffer several risks, which recently was shown in the Lira's fall, mentioned Sherif El-Diwany, former head of the Middle East at the World Economic Forum in Geneva, adding, "Turkey now is an unstable market".

Although he downplayed the Dollar's strength, he once again summoned God to be on the Turkish side against the US.

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Mr Trump intensified his spat with Turkey by imposing the higher tariffs, putting unprecedented economic pressure on a North Atlantic Treaty Organisation ally and deepening turmoil in Turkish financial markets.

Turkish President Recep Tayyip Erdogan has said the lira's drop is a "political plot" against Ankara, and his country will begin to seek for new partners.

Turkey's lira also plunged before recovering slightly to 6.4 against the dollar.

In addition, foreign investors are disquieted by Erdogan's authoritarian government, which seems to be pursuing imprudent and politically charged economic policies which undercut the independence of the central bank - only worsening Turkey's economic predicament.

The lira tumbled 16 percent against the dollar on Friday.

Since then, its relationship with Turkey, the sixth largest steel importer to the USA, the world's biggest steel importer overall, has deteriorated, prompting Ankara to send a delegation this week to Washington to meet with both the State and Treasury Departments.

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Ankara and Washington also disagree over their military interventions in the Syria war, Turkey's plan to buy missile defense systems from Russian Federation and the U.S. conviction of a Turkish state bank executive on sanctions-busting charges in January.

"I am specifically addressing our manufacturers: Do not rush to the banks to buy dollars". Since then U.S. President Donald Trump and Vice President Mike Pence have called for his release, while Ankara says the decision is up to the courts. "We have seen your play and we challenge you".

U.S. President Donald Trump introduced a round of sanctions on August 1, preventing the Turkish justice an interior ministries from doing business with U.S. businesses. "You should know that to keep this nation standing is. also the manufacturers' duty", he said.

Brunson was arrested in October 2016 on charges of being an American spy and terrorist complicit in the failed coup attempt against Erdogan in the summer of 2016.

A White House official said they did not set a deadline for Brunson, adding that he was expected home a long time ago.

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