Turkey, President Trump, Karan Washington discussed on Global News Podcast
The tenth of August. These are all means stories. The Turkish president, rigid type other one is called on people to defend the national currency after its values slumped, by fourteen percent with an a day. The main opposition group in Zimbabwe is due to mountain legal challenge to election victory of president Emmerson Mnangagwa a large demonstration has taken place in western China against the planned demolition of a huge mosque. Also in this podcast, we made them mouse and that mouse eat fat, but it doesn't get fat in terms of translation to Uman's. These could be formulated as pills. So you may be able to gorge yourself on fatty food without gaining any weight. The Turkish president registered tab. Edwin has called on Turks to support the embattled currency after its value fell by fourteen percent against the dollar within twenty four hours. He told his supporters that speculators would not bring Turkey to its knees were just accountant. Those don't let it if you have dollars euros on gold under your pillow, go to banks to exchange them for Turkish lira. It's a national fight. We should be United in this. Are we ready for it? As the president addressed the crowd, the lira plunged further. It's fallen forty percent. In the last year, there are concerns about Mr.. Ed Owens reluctance to hike interest rates to curb inflation and about the ability of Turkish firms to repay their foreign debts as well as the impact of poor relations with the United States. Earlier this morning, our correspondent, Celine Garrett went out on the streets to see how the impact of international politics is affecting everyday life. Other stu. It's early morning here in his stumbled, and the sellers are setting up their stalls in this marketplace and one by one they are placing their price tags on the Stolz, but I have to tell you the tax do not seem very appealing. A bunch of garlic here, for instance, is sold for five liras and here at this stole akilah of all lives for twenty liras yet pig should Result Sri Laurie on this particular seller tells me it would cost at least three liras to prepare basic bowl of salad. Keep the lives out of it. He says, otherwise, it will be too expensive today Turkish lira has hit a new record, low against the dollar, the euro and the pound the local currency lost. Nearly a third of its value. Since the beginning of the year, there's a huge current-account deficit and the inflation stands above twelve percent. The latest low saw the value in the lira is due to the deadlock in the talks between on Karan Washington on the release of a US pasta. Currently in house arrest in Turkey earlier today, president are Doan commented, they meaning the US may have their dollars, but we have our gods. Plummeting lira even further, there's an overwhelming concern amongst Turkish people could the country seeming to be in full blown currency crisis. At the moment, the also at the brink of an economic crisis. The Turkish people will need to be reassured. Rebecca kes- be spoke to selene in Istanbul and asked her for the latest. The latest crisis has been triggered by a rift between Washington and on cadre over the arrest of a US pastor. Andrew Branston. He has been jailed since last year and Washington was expecting him to be released in the latest hearing, but he wasn't and then sanctions imposed by Washington followed, and he was put on house arrest. There have been negotiations on talks held between the two countries. And there has been pressure put on Turkey for this past release. But Turkey wants to apparently use Mr. Brunson as a bargaining chip as an exchange and two for prisoner exchange, for instance, and in cut, it doesn't back off that is wide. The rift has been strengthened and deepened and we have seen the lira full to record lows all time lows. Actually, today there was a time when the Turkish lira lost fourteen percent of its value only overnight, and we're talking about a currency that already has lost nearly forty percent of its value since the beginning of the year. So very serious issues at the moment and finance minister in that report. I was saying we expecting, we're expecting him to speak later in the day, and he has spoken and he said, the independence of the central Bank is crucial. And that Turkey will have a stronger budget. Discipline at Turkey will emerge much more powerful. From this recent crisis, but he didn't exactly clarify how what steps would be taken exactly to halt the collapse of the lira..