White House rejects Turkey's offer on detained pastor

Marco Green
August 20, 2018

Turkey is reeling from a massive sell-off of its currency as Washington imposed sanctions and threatened new ones if an American pastor under house arrest isn't released.

Despite such risks, the German economy remains buoyant, supported by state spending, private consumption, low interest rates, a robust labour market and rising real wages, the ministry said in the report. We're telling them: "we've seen your games, and we are challenging you".

President Recep Tayyip Erdogan on Saturday named members of ruling Justice and Development (AK) Party's Central Executive Board (MYK). The U.S. has called the charges against him baseless. Ankara accuses Gulen of having masterminded the July 2016 coup attempt against President Erdogan. In retaliation, Turkey fired back with tariffs on USA cars, alcohol, cosmetics.

The Turkish lira has lost almost 40 per cent of its value against the dollar this year, hit by a worsening diplomatic rift with the United States and by investor alarm about President Tayyip Erdogan's influence over monetary policy.

On Tuesday, Erdogan announced a boycott on US electronic products in Turkey. "We will walk toward the future together with firm steps", Erdoğan said about what he described as an "economic attack" on Turkey and its currency.

The president also reshuffled his top management during the congressional meeting Saturday, held at the capitol city of Ankara.

Other reports by Click Lancashire

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