tv The Stream 2018 Ep 129 Al Jazeera August 14, 2018 7:33am-8:01am +03
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i don't mind i'm the guy that oh my god and then the family are. the good one and one way i'm wondering. when mexico's leaders implemented drastic and controversial energy reforms the country's oil owned by the mexican people for seventy five years was to be sold to private international companies. but to what extent is the country exposed to exploitation by a profit driven multinational corporation. could harvest on al-jazeera.
al-jazeera where ever you are. in an exclusive series of documentaries i was born into a very ordinary japanese family edges iraq shows five different stories and i am just too excited to focus on anything else right now from five different countries it was true. but i walked most importantly most with the one journey no one in my family has ever been to mecca this is a joyful occasion the road to has an al-jazeera. the philippines is one of the most disaster prone countries in the world. now private corporations are capitalizing on the chaos. one east investigates on al-jazeera
getting to the heart of the matter unless we have new generations growing up to understand better our relationship with the natural world then soon there will be nothing left facing reality or our friends and allies played a positive on the phone thing and his condition for taking this hear their story and talk to al-jazeera. this is al jazeera. hello i'm daryn jordan does the hour is there were news hour live from doha coming up in the next sixty minutes turkey's lira plunges to new lows rattling markets and increasing fears the crisis could spread to other economies. mourning the dead
thousands in yemen attend the funerals of the victims of a saudi and iran to lead a strike. iran's supreme leader forbids talks with the trump administration but says his country will not go to war with the u.s. . secret recordings a tell all book and public insults between a former white house aide and president trump. welcome to the program turkey's president has accused the u.s. of betraying its allies as the turkish currency crisis spooks international markets but last week the u.s. impose new sanctions on its fellow nato member after ankara refused to repatriate a detained american preacher well the central bank has now stepped in to try and stop the layers freefall restrictions on how much lira and the foreign currency banks need to hold have been eased and they have also guaranteed loans from istanbul some caution on the reports walking through the street people take nervous
glances at the foreign exchange screens wondering how much less their money might now be worth. the dollar the prices are up what she wants to buy overrun serb budget and give me a discount or leave. her request it's turned down turkish to raise down at least thirty per cent against the dollar in ten days this doesn't only hurt the buyers but the sellers too. including tibet's carts all he has run this shop for at least twenty years how far his products are imported is cost horizon tremendously. stronger more notice and we are almost at stagnation waiting for exchange rates to settle i purchase in dollars so my costs increased forty percent i'll have to reflect this in my prices. however exporters are happy with the depreciating.
our house owner who has run the silver wholesaler with his brothers for twenty years say's his profits have grown. to the mother although i import my products i explored them all we don't have a problem my profit margin is bigger now also we bring foreign exchange to our country but there certainty of worry seventy one the finance minister says it has an action plan to help ease the markets concerns and turkey central bank has pledged to provide all the liquidity needed by the banks many economists say the markets demanded you trust to stop the us trouble but prisons are gone and this financial team are totally against that i don't say as this is a speculative attack against still there are by foreign countries and might continue. if it does experts fear it could have a spillover effect into europe where turkey is because lenders are seen on to solo al-jazeera to stumble. well the turmoil in turkey has started to spread to other
countries as the global banking system tries to manage the crisis the argentinian peso fell to a record low against the dollar as did the indian rupee the south african rand dropped more than ten percent there's also concern in indonesia mexico and russia about the knock on effects and there are fears in the e.u. that turkish companies there may not be able to repay loans if the crisis continues long term we know germany says it wants to see a stable economy in turkey doesn't it cain has more from berlin. angela merkel's comments about the need for the turkish economy not to be destabilized basically they are explained by the importance that the turkish government plays these are very european politics but also middle eastern politics the fact that it acts almost as an anchor around which the european union is able to deal with a great deal of different policies specifically remember that the deal which the turks and the european union signed together regarding migration of that need to
stay in place so when angela merkel sees the economy the currency of turkey plunge in value that raises jitters as it were not just among her government but also financially in the financial heart of europe in germany rather it frankfurt while there are many many traders would look at turkish debt right now and wonder whether it's time to to get rid of it to try to to shore themselves up because they fear what may happen in turkey one final point to make here as violent as this current fall in value for the lira is go back ten years and the value of the currency not just against the dollar but also against the euro really has plunged very markedly indeed and that explains why the concern here in berlin but as i say across the e.u. now about what course turkey will take in the days to come let's bring in harlan ullman he's a senior advisor at the atlantic council and board member of a mutual fund that trades in international currencies he joins us live now via
skype from washington d.c. all observers say that long before this raul with the u.s. president had been presiding over soaring inflation rising borrowing levels so trying to push them over the edge but how bad were turkey's problems anyway to begin with. they were bad but this tariff war makes it much worse we're doubling the price of imports on turkish tariffs and as you well know the turkish lira has declined from about three point five to the dollar a year ago almost seven that causes a huge drain on their their u.s. reserves they need to borrow a great deal of money just sustain you're quite right that turkey's check on me was in trouble but this really gives it a great deal more things to worry about and so this is also spread it if you recall in two thousand and eight in the banking crisis in the united states that spread and because the financial economies are so interdependent because of currency
exchanges what happened in turkey probably cannot be limited to turkey we've seen this happen in greece and now that we have a tariff war going on between the united states and china in the united states and its northern and southern borders this contagion could spread and i don't want to predict doom but unless there's some reconciliation this is liable to get want worse not just in turkey but globally yeah and experts blame a drop in the value of the iran faires of the country is descending into economic crisis i mean the touch a central bank has moved in as we know to prop up the currency but it's not going to work. well we'll see i hope there's going to be a reconciliation because not only beyond the financial economic issues we're going to have a geo strategic and political crisis with turkey a nato the united states is furious with turkey a number of things buying russian missiles not flying american f. thirty five and so this economic crisis could lead to a political crisis and turkey could make some negative moves towards nato you'll
recall in one nine hundred sixty six charles de gaulle of france withdrew friends from the middle military part of the alliance turkey could easily do that we have a major airbase in select so that geo strategic ramifications of the economic situation have to be understood your comment is bad it's getting worse but there can be broader ramifications i'm all in how is all of this affecting ordinary people in turkey what problems do they face as the crisis starts to grow. our standard of living life is much more difficult things are far more expensive and i get the good sense they need a growing discontent with the government which is already becoming more autocratic and so all the situation there for further unrest and very very bright and less economic situation can become him in even if it does as you pointed out earlier want has huge struggles with inflation with interest rates and indeed with unemployment so even if we get through this turkey still isn't planche of trouble
but if we don't was all of these issues now the situation is going to get a lot of course before it gets that hollande a final thought from you i mean political tensions with the u.s. may have aggravated turkey's problems but how is this law to play out i mean is likely to blink first come back down. that's a very good question. the united states is playing a tough game with china i don't believe china is going to blink i don't think iraq is going to blink early want to blink for what i think is being pushed into a corner and really the issue with. that we're back into session soon they may want to put some pressure on the president so at this stage i would not count on earlier one blinking i wouldn't count on this to trump liking and that's the case then it's not going to be a happy situation which lies ahead harlan ullman thank you for talking to al-jazeera. turkey says it's workings of void a catastrophe on its southern border and syria's last remaining rebel held province
the syrian president bashar al assad's threatening to launch an offensive to retake italy many opposition fighters and their families fled to the province during the civil war so i reports from beirut. the syrian government says it is going to take the lead army helicopters dropped leaflets telling rebels and civilians in the opposition controlled northwestern province that it is better to join reconciliation agreements as others in syria have done that rebels have agreed to such deals when on the verge of military defeat so far those in it looks like they are not ready to surrender instead they arrested dozens of people they accuse of promoting a return to state rule. our security track down people who are promoting reconciliation with the regime they're trying to help the regime into some areas so we arrested them they're waging psychological warfare to weaken the morale of the fighters and people they collaborating with the regime. like in previous assaults the syrian
government backs up calls for reconciliation with military action state media showed reinforcements being brought to the conscripts of months of car temporarily and shattered in recent days dozens of civilians were killed in airstrikes that targeted towns and villages on the fringes of the province but despite this many believe a wide scale assault is not looming. their regime wants to control not just the place but that turks will play a role in the brawl is under turkey's protection and turkey will reach an agreement with russia. to disband joins the rebel brigade. the group formerly known as al nasra and al qaida syria affiliate arrested deen have not shown any intention to disband turkey was under pressure from its political allies russia and you. eliminate them possibly using syrian rebels.
the pressure may now turkey had warned russia and iran that a government offensive in adlib would threaten their political alliance the three countries the main stakeholders in the syrian conflict have been cooperate in through the so-called asked in a process their partnership has recently taken a whole new meaning the united states is the cleared economic war against them cooperation between these main players could stave off a battle that could affect the lives of billions in limited military operation tell there are expected around the edges of the province the government wants to secure a highways and prevent it little be used to attack strongholds. beirut huge crowds gathered in northern yemen for the funerals of people killed in a saudi coalition air strike last week more than fifty people died in the attack forty of them were children in the strike spot an international outcry led to calls for an independent probe one of the.