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than turkey is dependent and then we depend on turkey's well being of course we depend on it but we have the better karts and that should be the condition for a fair deal that we are aware of our possibilities and our influence and how much do one needs europe and the west to modernize turkey to stabilize turkey and to get sea economy going again and then these are the conditions for a fair deal and turkish would be interested in it we should be interested but we shouldn't make a show to cheat the deal from are actually a good time to to help turkey to get back on the democracy trappy yok first on the economic stability track and then of course. democracy how it works in germany and france i don't think it's realistic to expect that this is the way turkish democracy will look like and the other one in the next years i mean he just it's a country he's a new assault on he's he's almost an autocratic leader said. it's no longer we're going to be honest not all this talk of pious conditionality is not going to be listening he's going to be looking the other way no no he is listening and
than turkey is dependent and then we depend on turkey's well being of course we depend on it but we have the better karts and that should be the condition for a fair deal that we are aware of our possibilities and our influence and how much do one needs europe and the west to modernize turkey to stabilize turkey and to get sea economy going again and then these are the conditions for a fair deal and turkish would be interested in it we should be interested but we shouldn't make a show to cheat...
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Aug 10, 2018
08/18
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on turkey tariffs. we had tweets from president trump that he will be doubling tariffs on certain metals with turkey. we will keep an eye on this throughout the market reaction . julie: we are watching another volatile market situation. this having to do with tesla. directors of the company are moving ahead with their review of elon musk's bold proposal to take the electric carmaker private. cnbc reporting that directors plan to meet advisers next week and are likely to tell must to recuse himself while they consider his plan. for more, let's get to david welch. david, in the meantime, there is the sort of anti-short quest on the part of elon musk that does not seem to be succeeding. david: no, it doesn't. the shares initially gained quite a bit, but they have given all that back. it really is not driving them to the brink. it did not succeed in the first place either because the shares got as high as 300 $79, which is well short of the $420 buyout offer. the market did not see this whole thing is very
on turkey tariffs. we had tweets from president trump that he will be doubling tariffs on certain metals with turkey. we will keep an eye on this throughout the market reaction . julie: we are watching another volatile market situation. this having to do with tesla. directors of the company are moving ahead with their review of elon musk's bold proposal to take the electric carmaker private. cnbc reporting that directors plan to meet advisers next week and are likely to tell must to recuse...
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Aug 14, 2018
08/18
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ALJAZ
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between the two and between turkey and the united states it includes turkey's purchase of as for on the us from russia it includes well i mean it it includes differences between the united states and turkey when it comes to syria and actually the whole of the middle east it includes public opinion towards the united states in turkey and public opinion towards turkey in the united states so i would not call it a problem between the president's idea trick is the u.s. turkey crisis beyond repair at this point or do you think that it can be mended whale two types. special tides if you want to put it to egomaniacs getting at each other. squarely seeing what i think about the two and there that's always difficult in particular because they are both determined by. let's say don't mess with policy considerations in the united states for instance that they have a november elections and the bible belt the pot store the bible belt it is important they stop in the united states as support for president trump and his party so we'll have this split and i would say that to the parts store who is o
between the two and between turkey and the united states it includes turkey's purchase of as for on the us from russia it includes well i mean it it includes differences between the united states and turkey when it comes to syria and actually the whole of the middle east it includes public opinion towards the united states in turkey and public opinion towards turkey in the united states so i would not call it a problem between the president's idea trick is the u.s. turkey crisis beyond repair...
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Aug 27, 2018
08/18
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turkey's government violates human rights turkey has arrested german citizens turkey. has scorched earth as we heard. has. prevented german parliamentarians from visiting troops in the field serving for nato in turkey and you'll saying there should be a softly softly approach and also for the sanctions on took as i understand it -- yes i am firstly the softly softly approach. seems to work princes with my colleague dennis you showed was imprisoned on trumped up charges -- no pun intended -- accused of spying simply for doing his job when there are hundreds of others did in prison who don't have a german passport possible is that is did. and and and you know i mean it's it's it's it's it's horrible but i still think. arm that -- we have to somehow at the same time is helping them economic helping turkey economically which important country mustn't break down. and is another reason for this and when a country goes into economic downturns by like in venezuela revolution doesn't happen. that's when people are so busy scrambling for about politics and changing regime it's w
turkey's government violates human rights turkey has arrested german citizens turkey. has scorched earth as we heard. has. prevented german parliamentarians from visiting troops in the field serving for nato in turkey and you'll saying there should be a softly softly approach and also for the sanctions on took as i understand it -- yes i am firstly the softly softly approach. seems to work princes with my colleague dennis you showed was imprisoned on trumped up charges -- no pun intended --...
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Aug 11, 2018
08/18
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ALJAZ
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here punishing turkey for policy decisions that turkey has taken that the u.s. does not agree with we know that in the past few years they've disagreed on a range of issues from syria as the most recent one turkey continuing to buy natural gas from iran even after the u.s. sanctions were imposed on iran. well i think that is partially correct but i also think that the additional factor is that for years turkey has used the most abusive language against the united states and its leaders and really generated a historic high in anti american sentiment inside a turkey turkey seems to have taken the u.s. for granted for a number of years as if they could play the u.s. for its for their own benefit and that somehow the americans would take it so i think that this one incident which is minor in and of itself is also a test of the relationship or at least two countries going to treat each other with respect focus on their interests are not well erdogan speaking of the relationship has said this he said his country's partnership with the u.s. is in jeopardy and he may st
here punishing turkey for policy decisions that turkey has taken that the u.s. does not agree with we know that in the past few years they've disagreed on a range of issues from syria as the most recent one turkey continuing to buy natural gas from iran even after the u.s. sanctions were imposed on iran. well i think that is partially correct but i also think that the additional factor is that for years turkey has used the most abusive language against the united states and its leaders and...
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Aug 12, 2018
08/18
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but turkey to his schemes turkey is not a backwater anymore turkey's economies grow and it is a number of the g twenty if you know it when you actually take a look at the relationship between turkey and not it's the it's not between a century turkey depended on u.s. aid to prop up its economy that is no longer true the largest trading partner that turkey has to date is the european union that trade is worth eighty four point seven billion dollars with the united states it's only nine dollars and if you're actually keeping a look at what we're turkey's interests lie. why is much more are we not only you got countries that have been pouring a lot of investments and business into turkey i totally agree that the united states entered the new she needs other turkey is in a very rough neighborhood it's in the backyard of russia if borders syria iran and iraq and i have to say here that the united states actually should really can reconsider what its policy and its strategy towards turkey yes right now i don't see the trumpet ministration having a coherent strategy not only to turkey but to t
but turkey to his schemes turkey is not a backwater anymore turkey's economies grow and it is a number of the g twenty if you know it when you actually take a look at the relationship between turkey and not it's the it's not between a century turkey depended on u.s. aid to prop up its economy that is no longer true the largest trading partner that turkey has to date is the european union that trade is worth eighty four point seven billion dollars with the united states it's only nine dollars...
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Aug 10, 2018
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and turkey can end. or aet a compromise, complete rupture with devastating consequences for turkey's economy and america's regional strategic interests. either way, no going back to the way things work. that is pretty binary. can you give us a lay of the land and what we will be looking for in erdogan's speech. jennifer: i am sure investors will be looking for some clear signs on what the policy will be that will get the economy back on track. one thing i want to point out, this is not just something that is a problem for turkey, it is bleeding over into european banks. our columnist had a piece today that looked at what the damage there was. alix: and bahrain coming -- barring him saying, we will have a move of 600 basis points, the other option could be looking for a bailout from a imf. what are the other options in what is the reality behind the? >> one thing we have focused on is who is it that is leading the economic policy here. something that has put off investors is that erdogan replaced official
and turkey can end. or aet a compromise, complete rupture with devastating consequences for turkey's economy and america's regional strategic interests. either way, no going back to the way things work. that is pretty binary. can you give us a lay of the land and what we will be looking for in erdogan's speech. jennifer: i am sure investors will be looking for some clear signs on what the policy will be that will get the economy back on track. one thing i want to point out, this is not just...
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and turkey in the nato as nato allies isn't good in the first place and that's specifically after turkey decided to purchase s. four hundred missile systems from russia that obviously didn't bode very well with president trump and the white house here so you could say yeah there is some limited concern as of now i would say it's fair to say that the concern is not too big yet since relationships within the nato with the ally or between allies u.s. and turkey are so strange that anyway. and washington thank you. all right let's get the view now from turkey correspondent doreen jones reporting for us in istanbul dorian turkey's foreign minister has said further pressure will only hurt bilateral ties he's about retaliation but how much worse can relations get while the potential is to get a lot worse currently u.s. forces are working with a syrian kurdish militia just across turkey's border turkey considers that militia a terrorist organization and if they so wish they could put a lot of pressure on those u.s. forces and the kurdish militia they're working with that would ratchet up tension
and turkey in the nato as nato allies isn't good in the first place and that's specifically after turkey decided to purchase s. four hundred missile systems from russia that obviously didn't bode very well with president trump and the white house here so you could say yeah there is some limited concern as of now i would say it's fair to say that the concern is not too big yet since relationships within the nato with the ally or between allies u.s. and turkey are so strange that anyway. and...
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Aug 13, 2018
08/18
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BLOOMBERG
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turkey is tiny. comment that fabulous on twitter saying that turkey is worth something like netflix or amazon. it is small. what does that mean for you and me? john bilton is with us from jpmorgan. i want you to explain to us mere mortals, so what? why do we care? john: good morning. you are right that calibration is ever important in looking at these issues. turkey does have domestic factors that are causing this slide. we should be concerned about contagion channels. we should put them into context. if we look at msci emerging 0.5%ts, turkey is around of emerging markets. an make upchina 50% of that. they are growing stable he. should we be concerned about emerging markets generally? a little bit, to the extent that the catalyst that brought problems that turkey is the rebound in the u.s. dollar. we have seen a rebound in the greenback. that means that last year we saw an opportunity for all emerging markets and much of the world economy to appreciate and assets to be generally supported. as we see
turkey is tiny. comment that fabulous on twitter saying that turkey is worth something like netflix or amazon. it is small. what does that mean for you and me? john bilton is with us from jpmorgan. i want you to explain to us mere mortals, so what? why do we care? john: good morning. you are right that calibration is ever important in looking at these issues. turkey does have domestic factors that are causing this slide. we should be concerned about contagion channels. we should put them into...
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Aug 10, 2018
08/18
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and turkey. as a market spooked. >> the no side of the turkish lira and stocks have been treating across the globe. when putting his political agenda, president erdogan could long rely on economic growth and that could change. >> turkey's economic boom was fueled by economic standings. the upswing has come to an end. president erdogogan says western countries are waging an out a ad against turkey. alicia's with the u.s. are particularly bad. that is why he is determined to forge a good, ties -- better economic ties with russia and china. even many turks are planning the europe for the relative safety of dollars or euros. despite everyone's desperate plea, to try to s stabilize thee currency. that is taking instaed. lira has been sliding since beginning of the year. losing 39% of israelis since january. that is stoking inflation which recently hit 16%. the crisis also reveals turkey's underlying shortcomings. it is the lack of production, nothing else. thesesthings wouould not work without imports
and turkey. as a market spooked. >> the no side of the turkish lira and stocks have been treating across the globe. when putting his political agenda, president erdogan could long rely on economic growth and that could change. >> turkey's economic boom was fueled by economic standings. the upswing has come to an end. president erdogogan says western countries are waging an out a ad against turkey. alicia's with the u.s. are particularly bad. that is why he is determined to forge a...
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Aug 12, 2018
08/18
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member but turkey to his scenes turkey is not a backwater anymore turkey's economy has grown it is a number of the g twenty if you know it when you actually take a look at the relationship between turkey and not it's the it's not between a century turkey depended on u.s. aid to prop up its economy that is no longer true the largest trading partner that turkey has to date is the european union that trade is worth eighty four point seven billion dollars with the united states it's only nine dollars and if you're actually keeping a look at what we're turkey's interests lie. why is much more are we not only you got countries that have been pouring a lot of investments and business into turkey i totally agree that the united states entered the new she needs other turkey is in a very rough neighborhood it's in the backyard of russia if borders syria iran and iraq and i have to say here that the united states actually should really can reconsider what its policy and its strategy towards turkey yes right now i don't see the trumpet ministration having a coherent strategy not only to turkey b
member but turkey to his scenes turkey is not a backwater anymore turkey's economy has grown it is a number of the g twenty if you know it when you actually take a look at the relationship between turkey and not it's the it's not between a century turkey depended on u.s. aid to prop up its economy that is no longer true the largest trading partner that turkey has to date is the european union that trade is worth eighty four point seven billion dollars with the united states it's only nine...
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problems turkey is going expected to face going forward but any hope that turkey can turn to moscow and receive pens of billions of dollars in support instead of from the international markets in europe in the u.s. it is seen as illusionary they just russia doesn't have that kind of capital to lend to turkey it has its own problems another possibility is china now china does have deep pockets in moscow and the turkish president has been making comments about how turkey increasingly see parallels with the way china runs its economy and does see that there is possible synergies to be had but even china is expected to balk at the size of the bailout that it would have to give to turkey to sustain its column e. so at the end of the day turkey will have to look to europe and the u.s. to sustain its economy otherwise it is facing a full and a possible complete meltdown in the country briefly before we let you go you've been covering this story all day today the turkish president has not mentioned the name u.s. president donald trump one time in all of his criticism and accusations about the u
problems turkey is going expected to face going forward but any hope that turkey can turn to moscow and receive pens of billions of dollars in support instead of from the international markets in europe in the u.s. it is seen as illusionary they just russia doesn't have that kind of capital to lend to turkey it has its own problems another possibility is china now china does have deep pockets in moscow and the turkish president has been making comments about how turkey increasingly see...
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Aug 14, 2018
08/18
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the united states and turkey. no negotiations until a detained released.astor is it signals be standoff between the countries will continue as turkey's financial meltdown spreads to emerging markets. we have a reporter on the ground. the turkish ambassador in turkey requested this meeting with the u.s. officials. what can we expect from the security meeting? pointed --is is a this is a pointed reminder that turkey is fighting a standoff over policy credibility with international u.s.tors, and also the pastor being held in turkey. there were no dramatic results from this meeting. their heels deeper into the ground. while the turkish government was still taking a public position on this, the united states slapped tariffs on aluminum and steel, warning signs they are willing to go further into the conversation. for furtherential to your urination, or even a another set of sanctions -- further deterioration, or even another set of sanctions. anna: how likely will this last? yousef: nothing short of remarkable. this ha
the united states and turkey. no negotiations until a detained released.astor is it signals be standoff between the countries will continue as turkey's financial meltdown spreads to emerging markets. we have a reporter on the ground. the turkish ambassador in turkey requested this meeting with the u.s. officials. what can we expect from the security meeting? pointed --is is a this is a pointed reminder that turkey is fighting a standoff over policy credibility with international u.s.tors, and...
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is turkey's largest trading partner by far and the biggest investor as well so a recession in turkey would be bad news for many european businesses. european banks especially those in france italy and spain would be hit hard if texas businesses couldn't pay back loans denominated in euro's dollars. that the economic trouble in turkey could also have serious political consequences some experts predict a new set in refugees and warn that domestic extremist groups could try to take advantage of the economic and political turmoil. that the president added one keeps blaming the west for his problems he threatened to turn toward authoritarian states like china and russia turkey might even decide to leave nato. what does economic and political instability in tefillin mean for the rest of the wild. how dangerous is an unstable turkey's i think it's very dangerous i agree the first to lose would be turkey true but maybe the second to lose would be europe it's very close we have to think geographically. there are three point five million syrian refugees in turkey turkish government as a swarm
is turkey's largest trading partner by far and the biggest investor as well so a recession in turkey would be bad news for many european businesses. european banks especially those in france italy and spain would be hit hard if texas businesses couldn't pay back loans denominated in euro's dollars. that the economic trouble in turkey could also have serious political consequences some experts predict a new set in refugees and warn that domestic extremist groups could try to take advantage of...
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when european union behaves turkey that on the turkey needs european union turkey needs european union and european union needs turkey we are everywhere of this but some european countries unfortunately don't see the fact so why so you don't leave you any man or you said your needle tongue trees in the european union actually against turkey's membership made big my shirt off the e.u. countries you members this actually are in favor of turkish if you're going to actually eat a woman bishop any more he said and you struck not you have to love the accuracy of the reaction to this is the reaction of the country who has been waiting at the door for sixty years ok sixty years so how does the way that it is turkey's mistake so why do so many years so why threaten europe in march last year when the diplomatic president what can what kind of threaten in march last year when there's a sematic route with germany was at its height your president said that if europe continues this way no european in any part of the world can walk safely on the streets that's what he said. that's a threat that's a d
when european union behaves turkey that on the turkey needs european union turkey needs european union and european union needs turkey we are everywhere of this but some european countries unfortunately don't see the fact so why so you don't leave you any man or you said your needle tongue trees in the european union actually against turkey's membership made big my shirt off the e.u. countries you members this actually are in favor of turkish if you're going to actually eat a woman bishop any...
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Aug 20, 2018
08/18
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so qatar already is a very important investor in turkey even planning to expand more. let's take a step back and talk about the turkey effect emerging market currencies from india to argentina to indonesia hit major lows why is this a turkey's economy is relatively small it only accounts for about one percent of global gross domestic product to find the answer we have to go back nearly a decade ago after the end of the global financial crisis record low interest rates in the developed world meant it was cheaper for developing nations to borrow in dollars or euros about forty trillion dollars was added to the debts of emerging markets since then that's according to the institute of international finance but we are now entering an era in which central banks like the u.s. federal reserve on keeping rates low anymore and that's lending support to the dollar so as the dollar rises it is now costing those developing countries a lot more to repay their debts. well joining us now from london is timothy ash a senior emerging markets sovereign strategist with london based blue b
so qatar already is a very important investor in turkey even planning to expand more. let's take a step back and talk about the turkey effect emerging market currencies from india to argentina to indonesia hit major lows why is this a turkey's economy is relatively small it only accounts for about one percent of global gross domestic product to find the answer we have to go back nearly a decade ago after the end of the global financial crisis record low interest rates in the developed world...
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turkey or would it would it have further consequences. so it is no exaggeration that turkey is moving towards a financial collapse because it's a tragedy how can an economy stabilize the exchange rate and the current account by keeping this high growth rate so there is no signal that there is a political will to reduce its kinds onsen based growth rates at the same time if this collapse comes of course we have a large amount of loans in italy and we know at the same time that italian banks have been in troubles for months or just remember after the elections how critical the situation was in europe and if turkey the financial system collapse in turkey the central bank in europe has also again to bail out italian banks and that will trigger a political conflict again and europe so in this bigger picture. destabilizing turkey is not in the interest of the european union i don't they are saying thank you very much for this analysis. and iran demand remains high for stay healthy on industrial equipment but a growing number of companies and po
turkey or would it would it have further consequences. so it is no exaggeration that turkey is moving towards a financial collapse because it's a tragedy how can an economy stabilize the exchange rate and the current account by keeping this high growth rate so there is no signal that there is a political will to reduce its kinds onsen based growth rates at the same time if this collapse comes of course we have a large amount of loans in italy and we know at the same time that italian banks have...
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Aug 10, 2018
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dollar paper in turkey or turkish lira paper in turkey? we have seen sharp dollar but first and foremost, the currency run is taken a huge hit on the turkish denominated paper. that's the main concern at this point given the size of the move we see. 56% depreciation this year. the pain is still concentrated their and that's why it's so crucial for monetary policy to step up and for orthodoxy to return. francine: when you look at the contagion, we saw a move in korean won. if you don't handle turkey correctly, how much will the contagion be amplified? fortunately, we have seen somewhat of a decoupling between turkish assets and other e.m. assets over the past several months. there is lower correlations and low linkages. certainly there is some measure of contagion but it's not as big as it was in the last decade. we have all been saying with the president of turkey should be saying. is it going to be a domestic audience? it's such a tough balancing act because he has received so much popular support from the population in standing up to the
dollar paper in turkey or turkish lira paper in turkey? we have seen sharp dollar but first and foremost, the currency run is taken a huge hit on the turkish denominated paper. that's the main concern at this point given the size of the move we see. 56% depreciation this year. the pain is still concentrated their and that's why it's so crucial for monetary policy to step up and for orthodoxy to return. francine: when you look at the contagion, we saw a move in korean won. if you don't handle...
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Aug 13, 2018
08/18
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not just in turkey here in europe, turkey exposed banks. bbva and -- are trading lower. couple of other names -- also hsbc the same. investors are keeping a close eye. bbva has the biggest exposure through durant bank. that stock down almost 3.1%. we're in istanbul with more on this dylan, we're seeing dramatic intervention by the central bank and it's not enough. doesn't maintain the -- on interest rates that are -- >> cathere was an interview las night by the -- president erdogan's son-in-law he was promoted from energy minister to that role not so long ago he said there would be dramatic measures taken this morning, they'd be unveiling plans to use the institutions to try and stem the crisis he had given another presentation on friday to focus on the situation without mentioning this. that's why investors got incredibly concerned about what the government was going to and not going to do to combat this free fall with steel and turkish li lira president erdogan has repeated, he's an enemy of increasing interest rates the current rate is 17.17% they're calling for it to
not just in turkey here in europe, turkey exposed banks. bbva and -- are trading lower. couple of other names -- also hsbc the same. investors are keeping a close eye. bbva has the biggest exposure through durant bank. that stock down almost 3.1%. we're in istanbul with more on this dylan, we're seeing dramatic intervention by the central bank and it's not enough. doesn't maintain the -- on interest rates that are -- >> cathere was an interview las night by the -- president erdogan's...
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turkey's currency in freefall amid a diplomatic spat between washington and ankara the euro plunges to record lows after donald trump ramps up tariffs on turkish imports the turkish president aired a one is a defiant saying his country would emerge victorious in an economic war. you are. welcome to the program i'm mary and i haven't seen. hundreds of people have been injured in clashes between police and anti-government protesters in romania tens of thousands rallied in the capital bucharest and other cities to demand the resignation of the government they blame the ruling social democrats for endemic corruption and. thousands of furious romanian ex-pats also joined the protesters ranks based say corruption and poor financial prospects forced them to leave their country. hundreds of people needed medical attention after anti corruption protests turned violent and bucharest. police used water cannons and tear gas after some protesters tried to force their way through to government buildings. romanian president close your highness condemned the police quote disproportionate use of force
turkey's currency in freefall amid a diplomatic spat between washington and ankara the euro plunges to record lows after donald trump ramps up tariffs on turkish imports the turkish president aired a one is a defiant saying his country would emerge victorious in an economic war. you are. welcome to the program i'm mary and i haven't seen. hundreds of people have been injured in clashes between police and anti-government protesters in romania tens of thousands rallied in the capital bucharest...
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Aug 10, 2018
08/18
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, that washington wants erdogan to fail because turkey's adversaries do not want turkey to beme great. unfortunately for turkey, parts notthe population ar necessarily buying into what reality is, but what reality is made for them by theer populist le erdogan's -- sanctions might t hu economy but they might strengthen his base and power. rajini: is there any way forware to maktions between the two countries improve? t ner: absent andrew brunson's release, i don'e how trump will have an agreeable relation with turkey again. he might push for sanctions until he secures the release of the pastor. rajini: thanks for coming . soner: my pleasure. rajini: president trump has called for nfl players who kneel o ring the national anthem suspended without pay. in a tweethe said footballers they should "be happy and cool w and find anoth to protest." it is the latest in an ongoing row between the president and many nfl stars. on thursday night my number of players raised a fist before preseason game as a way of bprotesting leatality towards african-americans and to highlight racial inequities. th
, that washington wants erdogan to fail because turkey's adversaries do not want turkey to beme great. unfortunately for turkey, parts notthe population ar necessarily buying into what reality is, but what reality is made for them by theer populist le erdogan's -- sanctions might t hu economy but they might strengthen his base and power. rajini: is there any way forware to maktions between the two countries improve? t ner: absent andrew brunson's release, i don'e how trump will have an...
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Aug 20, 2018
08/18
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CSPAN
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and in turkey. mile in question would be if you had different leadership with different political rhetoric, whether there would be a shift in the public or if that is the deeply held. >> i agree, i think opinion deadly change which takes me too my next question, something that puzzled me, how countries and political identities are not immutable. we think they are, but they change. finland was considered easter pinion until it became nordic. recent turkey were considered western europe, greece became southern europe in turkey became middle east. with that in mind, turkey now on the question i will take you to is their desire that came up in a couple presentations. with this new trick in mind, maybe a full shocking that turkey is embracing its european partner but i'll ask you how you think it works and if it works. but maybe we will take the opposite order. unico first? >> do you want to go first? >> sure. >> sure. >> i'm happy to go first. >> and very confused. >> the reset with europe is not entire
and in turkey. mile in question would be if you had different leadership with different political rhetoric, whether there would be a shift in the public or if that is the deeply held. >> i agree, i think opinion deadly change which takes me too my next question, something that puzzled me, how countries and political identities are not immutable. we think they are, but they change. finland was considered easter pinion until it became nordic. recent turkey were considered western europe,...
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Aug 10, 2018
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turkey really matter to the u.s. economy this is a key question, steve, we've been asking. so disstill it for us. >> some of their problems are of their own moaking. political alpha saying turkey's downward trajectory won't end any time soon. turkey has 17% inflation the central bank is not independent, a high percentage of foreign debt and a president who thinks high interest rates causing inflation. it's one of a series of unconnected global fires that are smoldering, including u.s. trade disputes with nearly all of its major trading partners that have led to global tariffs. the u.s. central bank is way out far in front in tightening compared to other developed nations. all that has combined to strengthen the dollar. that puts pressure especially on emerging markets, like argentina and russia, especially those with weak fiscal positions now, the fed, it's warned these countries for years that it would tighten, urged them to get their fiscal houses in order some did, some didn't. a big difference now, a u.s. adminis
turkey really matter to the u.s. economy this is a key question, steve, we've been asking. so disstill it for us. >> some of their problems are of their own moaking. political alpha saying turkey's downward trajectory won't end any time soon. turkey has 17% inflation the central bank is not independent, a high percentage of foreign debt and a president who thinks high interest rates causing inflation. it's one of a series of unconnected global fires that are smoldering, including u.s....
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Aug 15, 2018
08/18
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BLOOMBERG
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turkey, if we see hard lending in turkey, that will hit european companies and that will be the back door. we will fear from a lot of companies late in the reporting season that they are not able to deliver the numbers we expected because turkey has not delivered. is putirst of all, it your hands in the air like you just don't care. that would be a mistake, you say. what should investors do? should they do the research and look at the companies, and just sell everything that has too much of a link to turkey because government turkish isn't going to give in to investor demands. it isn't going to listen to the u.s. president, right? about i'm not really sure that thing. at the moment, there are two parties that don't talk to each other. in the same way as the united way toexpects an honest discuss, the turkish people expect that. the issue is that if two people are not talking to each other, that is not the best thing. that is the first thing. givee end, if both parties a little to each other, there will be a solution. matt: you are not worried about a total breakdown of communication,
turkey, if we see hard lending in turkey, that will hit european companies and that will be the back door. we will fear from a lot of companies late in the reporting season that they are not able to deliver the numbers we expected because turkey has not delivered. is putirst of all, it your hands in the air like you just don't care. that would be a mistake, you say. what should investors do? should they do the research and look at the companies, and just sell everything that has too much of a...
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turkey and the u.s. go head to head on trade the result turkey's currency is in freefall and the us president is promising more tariffs just around the corner i'm sorry harmon in berlin this is the day. if there is anyone who has dollars euros gold under that pillows. they should go exchange it for turkish lira our banks. i have just authorized a doubling of terrorists on steel and aluminum with respect to turkey as their currency the turkish lira slides rapidly don't work against our very strong dollar . this is a national domestic bottle. this will be my people's response to those who would waste an economic war against us. let's look to. our relation to turkey are not good at this time. also coming up why no pilot striking across europe they want better pay and conditions at the budget airline. when there was the respective sort of movies we talked to all of the pilots and even the old school for discovering truth. and stories coming up but first it's always awkward when your friends fight but when th
turkey and the u.s. go head to head on trade the result turkey's currency is in freefall and the us president is promising more tariffs just around the corner i'm sorry harmon in berlin this is the day. if there is anyone who has dollars euros gold under that pillows. they should go exchange it for turkish lira our banks. i have just authorized a doubling of terrorists on steel and aluminum with respect to turkey as their currency the turkish lira slides rapidly don't work against our very...
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Aug 11, 2018
08/18
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BLOOMBERG
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i want to focus on turkey. looking at the way they have handled the situation, what can they do to regain credibility? >> they are running out of options. they do not have credibility and looking at currency, there is fear and uncertainty. it is also an important country in terms of geography, relationships, and trade for europe in particular. at some point, a solution must be found. jonathan: kathy jones, looking at this situation, is the management of the crisis a crisis or the crisis? >> they were already fragile to begin with because of the large current account deficits. since the election, since the changes at the central bank, you have a lack of credibility compounding it. they do not have a lot of good options. they could raise interest rates, tighten fiscal policy, go to the imf. none of those are palatable. jonathan: they are not asking for help. for our u.s. audience, it is the equivalent of having jared kushner pushing out jay powell and the equivalent of having the president running the federal res
i want to focus on turkey. looking at the way they have handled the situation, what can they do to regain credibility? >> they are running out of options. they do not have credibility and looking at currency, there is fear and uncertainty. it is also an important country in terms of geography, relationships, and trade for europe in particular. at some point, a solution must be found. jonathan: kathy jones, looking at this situation, is the management of the crisis a crisis or the crisis?...
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Aug 14, 2018
08/18
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BLOOMBERG
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turkey? 10% inrobably less than terms of real capital controls. you might see something around the edges. full-scale capital controls like we see in other emerging markets could lead to a debt spiral for turkey. alix: what kind of downside do we still need to see in turkish assets if we don't see capital controls? ziad: the turkish bank is very creative given that they have policies against local borrowing. they will try to do everything they can sort of raising interest rates because that has a knock on effect for the economy. allies in the gulf states in china, trying to get swap lines set up to avoid capital controls or rate hikes. david: one of the things they need is foreign direct investment given the capital accounts and balance. how are they getting that investment and to what extent are they putting it at risk? portfolio flow to finance the current account deficit has been the problem over the last few years. this is the issue with capital controls. an economy that is reliant on fore
turkey? 10% inrobably less than terms of real capital controls. you might see something around the edges. full-scale capital controls like we see in other emerging markets could lead to a debt spiral for turkey. alix: what kind of downside do we still need to see in turkish assets if we don't see capital controls? ziad: the turkish bank is very creative given that they have policies against local borrowing. they will try to do everything they can sort of raising interest rates because that has...
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Aug 14, 2018
08/18
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ALJAZ
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enemies targeting turkey. doing two thousand and fourteen he called it an interest lobby when gives it parkinson's what happening and now he calls it foreign countries targeting economic you know to turkey to them are going to war and so on there's not only tech is concerned by the falling layer it as a brit is under reports the new york stock exchange markets across the world are being affected. investors here in wall street are quite frankly very worried about what they're seeing happening in turkey with the economy right now on monday the dow slipped more than one hundred points and it's not only the dow the s. and p. five hundred dropped as well it's the fourth straight day that the dow and s. and p. saw losses because of worry about the turkey economic situation that continues to rattle investors as one investor said he said we're being very cautious right now because of what we see with the turkey story and what is that turkey story that investors are worried about on monday the turkish lira dropped more
enemies targeting turkey. doing two thousand and fourteen he called it an interest lobby when gives it parkinson's what happening and now he calls it foreign countries targeting economic you know to turkey to them are going to war and so on there's not only tech is concerned by the falling layer it as a brit is under reports the new york stock exchange markets across the world are being affected. investors here in wall street are quite frankly very worried about what they're seeing happening in...
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Aug 15, 2018
08/18
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ALJAZ
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between the two and between turkey and the united states it includes turkey's purchase of as four hundred missiles from russia it includes well i mean it's includes differences between the united states and turkey even it comes to syria and actually the whole of the middle east it includes public opinion towards the united states in turkey and public opinion towards turkey in the united states so i would not call it a problem between the presidents idea trick is the u.s. turkey crisis beyond repair at this point or do you think that it can be mended whale to tripes special tides if you want to put it to egomaniacs getting at each other a quiet squarely feeing what i think about the two. that's always difficult in particular because they are both determined by. let's see the messy policy consideration in the united states for instance that they have in the elections. and the bible belt the pot store the bible belt it is important they stopped in the united states as support for president trump and his party so we'll have this aspect and i would say that to the the parts store who is of the
between the two and between turkey and the united states it includes turkey's purchase of as four hundred missiles from russia it includes well i mean it's includes differences between the united states and turkey even it comes to syria and actually the whole of the middle east it includes public opinion towards the united states in turkey and public opinion towards turkey in the united states so i would not call it a problem between the presidents idea trick is the u.s. turkey crisis beyond...
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Aug 15, 2018
08/18
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fred and pop most of turkey still economically strongly linked with turkey to domestic leaf through that three million turks in germany we will try to do our best whether it be enough to have probably the help of the commission the e.u. commission. major pot those like france in the e.u. and people to our business that's all because i hope it depends also on the flexibility on. these participating in this all right we are out of time so we're going to name there because. i want to be optimistic. dietrich. major gun sorry to interrupt what we have run out of time thank you very much we're going to have to leave it there so thanks very much to all our guests osborne look at dietrich von cow and egg skin and thank you too for watching you can see the program again any time by visiting our website al-jazeera dot com and for further discussion go to our facebook page that's facebook dot com forward slash a.j. inside story you can also join the conversation on twitter our handle is at a.j. inside story from name how much influence on the whole team here by for now. the philippines is one of th
fred and pop most of turkey still economically strongly linked with turkey to domestic leaf through that three million turks in germany we will try to do our best whether it be enough to have probably the help of the commission the e.u. commission. major pot those like france in the e.u. and people to our business that's all because i hope it depends also on the flexibility on. these participating in this all right we are out of time so we're going to name there because. i want to be...
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Aug 12, 2018
08/18
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we will continue our discussion on turkey in a moment. we talk about how the crisis is spilling over to the eurozone and emerging markets. ramy: if you need your campaign -- crafting six, the ceo of coffee box. taking on starbucks in a booming market. this is bloomberg. ♪ mberg. ♪ ramy: we are counting down to the sydney open. there is the sydney opera house you are looking at on monday morning in the asia-pacific. futures slightly higher, up .2%, but lying what we saw in the -- belying what we saw in the red. with the geopolitics moving around the world, you look at china, turkey, russia, i am ramy inocencio in new york. haidi: i'm haidi stroud-watts in sydney. we want to get back to the topic of turkey because the question is if it is in the us and credit -- if it is idiosyncratic pace, stop these,oved to stemming the bleeding for now. tensions with the u.s. show no signs of abating. they are escalating. joining us is a managing director. happy monday. here is a chart to start our conversation. this is looking at correlation risk be
we will continue our discussion on turkey in a moment. we talk about how the crisis is spilling over to the eurozone and emerging markets. ramy: if you need your campaign -- crafting six, the ceo of coffee box. taking on starbucks in a booming market. this is bloomberg. ♪ mberg. ♪ ramy: we are counting down to the sydney open. there is the sydney opera house you are looking at on monday morning in the asia-pacific. futures slightly higher, up .2%, but lying what we saw in the -- belying...
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last week and we discussed this peter what we saw in turkey was a turkey that is exploring its options we saw that going to the brics meeting we saw china and russia all the brics members very happy to have turkey on board and we're seeing turkey now even examining even examining it considering its nato membership and this is huge is the geo political earthquake to see turkey it's like greggs it shifted it's like my friends it it's a brags that here it is flirting right now it's the in the bazaar right now because i don't see them leaving nato any time soon but it's planting the seed we have options we have friends that's already been excluded from the united states weapons program i mean it's syrian and all of that rhetoric between turkey and the you of was all full in the last few months so basically all of this adventure in the me there was that mr obama stopped it you know when he basically support that they insurgence against the syrian government it backfired terribly because what did the united states want to do from their point of view of the interest of the united states they
last week and we discussed this peter what we saw in turkey was a turkey that is exploring its options we saw that going to the brics meeting we saw china and russia all the brics members very happy to have turkey on board and we're seeing turkey now even examining even examining it considering its nato membership and this is huge is the geo political earthquake to see turkey it's like greggs it shifted it's like my friends it it's a brags that here it is flirting right now it's the in the...
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Aug 15, 2018
08/18
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. >> on turkey -- turkey announced today they are going to tariff billions of dollars on american goods. can i get a response that if there's any discussion internally about retaliatory -- >> the tariffs from turkey are certainly regrettable. a step in the wrong direction. the tariffs the united states placed on turkey were out of national security interest. there is are out of retaliation. i'm not going to get ahead of anything what we may or may not do in an effort to respond but certainly, we don't support turkeys decision to retaliate against us protecting our national security interest. >> in turkey today they denied having -- [inaudible conversations] >> we feel that turkey and the president have treated the pastor that we know to be a good person and good christian they've not treated unfairly and it is something we will not forget. >> the administration has put up a defense but at the same time there are tens of thousands of christians in north korea who have been imprisoned over their religion. they consider them to be a normal country when it comes to prosecution of the questi
. >> on turkey -- turkey announced today they are going to tariff billions of dollars on american goods. can i get a response that if there's any discussion internally about retaliatory -- >> the tariffs from turkey are certainly regrettable. a step in the wrong direction. the tariffs the united states placed on turkey were out of national security interest. there is are out of retaliation. i'm not going to get ahead of anything what we may or may not do in an effort to respond but...
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Aug 12, 2018
08/18
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ALJAZ
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but turkey has scenes turkey is not a backwater anymore turkey's economies grow and it is a number of the g twenty if you know it when you actually take a look at the relationship between turkey and not it's the snipers for a century turkey depended on u.s. aid to property economy that is no longer true the largest trading partner that turkey has today is the european union that trade is worth eighty four point seven billion dollars with the united states it's only nine dollars and if you're actually keeping a look at what we're turkey's interests lie. why is much more are we not only you got countries that have been pouring a lot of investments and business into turkey i totally agree that the united states and the mutually need other turkey is in a very rough neighborhood it's in the backyard of russia if borders syria iran and iraq and i have to say here that the united states actually should really can reconsider what its policy and its strategy towards turkey yes right now i don't see the trumpet ministration having a coherent strategy not only to turkey but to the meet middle ea
but turkey has scenes turkey is not a backwater anymore turkey's economies grow and it is a number of the g twenty if you know it when you actually take a look at the relationship between turkey and not it's the snipers for a century turkey depended on u.s. aid to property economy that is no longer true the largest trading partner that turkey has today is the european union that trade is worth eighty four point seven billion dollars with the united states it's only nine dollars and if you're...
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Aug 14, 2018
08/18
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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 p
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...
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Aug 14, 2018
08/18
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CNBC
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and turkey are engaged in a period of political tensions makes the situation with turkey worse. >> it's like the situation with greece when the situation was going down, people were like why do we care about greece? it's the high levels of debt ratio to gdp and the current account deficit. how confident are you this will be then contained? >> fairly confident. it's understandable why investors are taking a more cautious approach. that might contain until turkey engages in more traditional types of measures. >> gdp coming out from the eurozone 0.4% for the second quarter. 2.2% annualized. those are not great numbers. not terrible how do you read them >> having not seen the details on the surface that type of annualized number is quite good relative to trend growth just on the surface without seeing details, it puts to rest some concerns we've had about slowing growth >> do you think turkey, the eurozone, the trade spat with china, does that influence or change our federal reserve well, we don't know what will happen with this stuff, let's ratchet it back. >> it's always going to be think
and turkey are engaged in a period of political tensions makes the situation with turkey worse. >> it's like the situation with greece when the situation was going down, people were like why do we care about greece? it's the high levels of debt ratio to gdp and the current account deficit. how confident are you this will be then contained? >> fairly confident. it's understandable why investors are taking a more cautious approach. that might contain until turkey engages in more...
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deal with turkey all of. this is. to say because it's a german way of looking at things that somehow people states and leaders of states are rational actors they're not look at putin look at trump. look at some of the things our own leadership has done look at greece i mean you know. look at venezuela look at mr maduro rationality does not impinge on politics especially not on autocrats therefore if turkey goes down the drain just turkey the this is will not mean the end of mr i don't just give him an opportunity to ramp up his his autocratic way of dealing with society that everyone i mean it's. people in times of stress people to dictators when they feel a little better they think about democracy that's the way things go and this idea that we're all rational actors is just not borne out by reality so the point is now we are interested that turkey doesn't go down the drain economically that's a prime interest because if it does go down the drain economic everything else goes down the drain now if we help them will th
deal with turkey all of. this is. to say because it's a german way of looking at things that somehow people states and leaders of states are rational actors they're not look at putin look at trump. look at some of the things our own leadership has done look at greece i mean you know. look at venezuela look at mr maduro rationality does not impinge on politics especially not on autocrats therefore if turkey goes down the drain just turkey the this is will not mean the end of mr i don't just give...
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Aug 19, 2018
08/18
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BLOOMBERG
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turkey doesn't seem to be doing that. my concern would be there needs to be a deeper crisis to bang heads together. >> i didn't realize that trump would be so tough with regards to bond selling in getting his return. now we see a real bargaining taking place between the two leaders, and both of them are strong, and are probably not willing to compromise. >> a question for you, mark, about turkish banks. the u.s. bonds trading $.50 on the dollar in turkey. do you have a comment, and if you were a depositor in a turkish bank, would you be taking the money out? mark: i am a depositor in a turkish bank. i got most of my money out, but i am keeping some in, because i think longer-term, it will be an interesting market. but if you've got turkish lira, you are losing -- in my case, i had a little turkish lira, so i'm in pretty good shape -- but i'm concerned about any currency controls. if i want to get that money out, this is something we would have to look at. >> we are back to mercantilism, and i think that's the real story.
turkey doesn't seem to be doing that. my concern would be there needs to be a deeper crisis to bang heads together. >> i didn't realize that trump would be so tough with regards to bond selling in getting his return. now we see a real bargaining taking place between the two leaders, and both of them are strong, and are probably not willing to compromise. >> a question for you, mark, about turkish banks. the u.s. bonds trading $.50 on the dollar in turkey. do you have a comment, and...
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Aug 15, 2018
08/18
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FBC
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turkey considers them to be related to a kurdish group in turkey. so there are a lot of issues and tensions but this is a important relationship. i hope besides the pastor which you mentioned and the economic issues we can move past this at some point. melissa: move past it, but sort of under, how do you do that? because as you look at all the things you talked about right there, you lay it out, our relationship has gotten strainedded. they haven't been a great ally of late. they have had a lot of muslim extremism in the country as well. this is sort of the final straw. the idea that they're hanging on to an american? if you look at the president the way he dealt with people, that has been sort of step one is return americans immediately. do you think that's his approach to this situation as well? that is sort of the first issue to get started on? >> yeah i think would help get both countries on exit ramp to the mini-crisis we have going on. i feel turkey is scapegoated the united states for its economic problems. any of your economic analysts will
turkey considers them to be related to a kurdish group in turkey. so there are a lot of issues and tensions but this is a important relationship. i hope besides the pastor which you mentioned and the economic issues we can move past this at some point. melissa: move past it, but sort of under, how do you do that? because as you look at all the things you talked about right there, you lay it out, our relationship has gotten strainedded. they haven't been a great ally of late. they have had a lot...