Turkish President Erdogan Says Turkey's Economy Is Under Attack

Al Jazeera: Erdogan says Turkey economy under attack as Trump doubles tariffs

After Turkish president urges people to support currency, US counterpart adds pressure with doubling of metals' tariffs.

US President Donald Trump has announced a doubling of steel and aluminum tariffs on Turkey, piling economic pressure on the NATO ally after its currency went into a tail-spin.

Trump's announcement on Friday came hours after Turkish President Recep Tayyip Erdogan lashed out against a shadowy international "interest rate lobby" which, he suggested, was "campaigning" to harm Turkey's economy, after the lira fell more than 14 percent overnight.

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WNU Editor: The U.S. is being blamed for the collapse of the lira .... On Istanbul streets, defiant Turks see U.S. hand behind lira crisis (Reuters)

Update: No kidding .... U.S.-Turkey relations will never be the same (Bloomberg). But this downward spiral in relations has been going on for a very long time.

More News On Turkish President Erdogan's Claims That Turkey's Economy Is Under Attack

Erdogan tells Turks to buy free-falling lira as Trump doubles metals tariffs -- Reuters
Erdogan says attempts to exert economic pressure on Turkey futile -- TASS
Erdogan urges Turks to dump dollar to support lira -- RT
Turkish lira plunges 15% versus dollar after Trump authorizes doubling metals tariffs on Turkey -- CNBC
Turkey's currency takes 20% dive to fresh all-time low after Trump tweets new tariff rates -- Yahoo News
Turkey Emerges as Economic Flash Point as Tensions With U.S. Soar -- The New York Times
Turkey shaken by financial fears, Trump rattles it further -- AP
Turkey's Currency Crisis: What Happened, What's Next, Why It Matters -- The Street

The Economic Crisis In Turkey Is Starting

The Turkish President, Tayyip Erdogan, arrives at a meeting to present his ruling AK Party's lawmaker candidates for the city of Istanbul, Turkey, May 29, 2018. REUTERS/Osman Orsal

Asia Times: Turkey’s economic crisis has just begun

What happens next may look like Greece during its financial collapse – meaning Turkey’s economy could shrink by 10%-20%

The Turkish central bank managed to halt the free-fall of the country’s currency last week with a sharp rise in interest rates. But the move failed to stop the free-fall of Turkey’s equity market and – far more dangerous – the collapse of the credit quality of Turkey’s banks. Only last October, the euro-denominated 10-year bond of Turkey’s largest private lender, Garanti Bank, yielded just 3%. Now it yields more than 7%, and the dollar value of the bond has fallen from over 120 euros to around 80 euros.

Turkey’s Istanbul 30 stock market index meanwhile has fallen by 35% in US dollar terms since August 29, 2017. Its most vulnerable lender, Halk Bank, lost 63% of its US dollar value in the same period and now trades at 40% of book value.

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Update #1: How Turkey's currency turmoil and the uncertainty of the upcoming elections could affect its struggling economy (The Independent)
Update #2: Turkey’s Erdogan faces surprise test in tight vote (BBC)

WNU Editor: This is why Turkish President Erdogan called an election for June 24 .... he sees the dark clouds approaching.

Anger Over Turkey's Corruption Scandal Escalates Into Riots

Riots Erupt In Turkey Over Corruption Scandal -- Al Jazeera

Politicians accuse Turkish government of "arrogance" as protests gain momentum in at least three cities.

Turkish riot police have blasted opposition protesters with water cannons, tear gas and plastic bullets in Istanbul in scenes reminiscent of the summer's mass anti-government demonstrations.

Some of the protesters on Friday evening threw rocks and firecrackers at police, shouting, "Catch the thief!" in reference to a widening corruption scandal gripping Prime Minister Recep Tayyip Erdogan's government.

Similar protests were held in the city of Izmir, and in Ankara where police also fired water cannons to disperse the crowds.

Police blocked hundreds of protesters from gathering in Istanbul's central Taksim Square and pushed them away to the nearby streets.

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More News On The Political Crisis In Turkey

Turkish protesters clash with police as supporters cheer Erdogan -- Reuters
Turkish riot police clash with demonstrators -- Washington Post/AP
Turkish court blocks prime minister’s attempt to rein in police amid corruption probe -- Washington Post
Turkey's military distances itself from political corruption investigation -- The Guardian
Turkey: Army will not get involved in politics -- BBC
Protesting Turkish prosecutor piles pressure on PM -- Reuters
Turkey: problems mount for PM Erdogan -- Euronews
Lawmakers resign amid Turkey fraud scandal -- Al Jazeera
Turkey's Halkbank denies wrongdoing in Iran deals -- Hurriyet Daily News/AFP
Turkey corruption crisis pushes lira to record low -- CNN
Turkey Facing Political and Economic Meltdown -- Matthew Yglesias, Slate

The 'Standing Man' Of Istanbul

Previous Post: Turkey's 'Standing Man' Protest Goes Viral

WNU Editor: More pics and info here. This pic reminds me of what this man did in China 24 years ago.

Turkey's 'Standing Man' Protest Goes Viral

 

'Standing Man' Inspires Silent Demonstration In Turkey -- CNN Istanbul 

(CNN) -- A man stood silently in Istanbul's Taksim Square for hours Monday night, defying police who had broken up weekend anti-government protests with tear gas and water cannon and drawing hundreds of others to emulate his vigil.

For more than five hours, he appeared to stare at a portrait of Kemal Ataturk, the founder of the modern Turkish state, on the side of the Ataturk Cultural Center. Police eventually moved in to arrest many of those who had joined him, but it was unclear Tuesday whether Erdem Gunduz -- a performance artist quickly dubbed the "standing man" -- was in custody.

Turkey has been wracked by more than two weeks of protests against the government of Prime Minister Recep Tayyip Erdogan. But many of those who joined Gunduz late Monday said they were standing only for peace, not taking sides.

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More News On The 'Standing Man' Protest Going Viral  

Dozens held in Turkey, silent protester goes viral -- Reuters
Turkey's 'Standing Man' Launches New Protest Wave -- ABC News/AP
Turkey's 'standing man': A new form of protest -- USA Today
'Standing man' inspires Turkish protesters in Istanbul -- BBC
‘Standing man’ protester inspires Turkish protesters -- Celebrity Cafe
Standing: The Newest Form of Protest in Turkey -- Olga Khazan, The Atlantic

Turkish Riot Police Storm Gezi Park Sparking Widespread Riots

Turkey Protests: Istanbul Erupts Over Gezi Park Clearance -- BBC

Protesters have clashed with Turkish police in Istanbul, after riot squads used tear gas and water cannon to eject demonstrators from Gezi Park.

The protesters quickly fled the park, but later erected barricades across nearby streets and lit bonfires.

Witnesses said it was one of the worst nights of unrest since the park was occupied 18 days ago.

Thousands of people also took to the streets of the capital, Ankara, to express support for the protests.

The Confederation of Public Workers' Unions (KESK) also said it would call a nationwide strike on Monday, while another union grouping is deciding whether to join the action.

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More News On the Unrest In Turkey

Police raid on Istanbul park triggers night of rioting -- Reuters
Riot police end Istanbul park protest -- AP
Turkish police storm protest camp using teargas and rubber bullets -- The Guardian
Turkish police clear Istanbul sit-in -- Al Jazeera
Police Storm Park in Istanbul, Setting Off a Night of Chaos -- New York Times
'Like war': Riot police move to quash Turkey protests -- NBC
Turkish forces clear Istanbul park -- CNN
Gezi Park protest ends in clashes, and five-star hotels -- AFP
Turkey: Police Expel Protesters From Park -- Radio Free Europe
Turkish Riot Police Storm Istanbul Park in Bid to End Protests -- Voice of America
Photos: Turkish Protesters Dispersed With Tear Gas And Cannons -- Mercury News

Unrest In Turkey -- News Roundup June 12, 2013

Turkey Protests: Clashes Continue Despite PM's Warning -- BBC

Turkish riot police have used tear gas to disperse thousands of anti-government demonstrators who gathered on Taksim Square in Istanbul, after a day of sporadic clashes.

Many protesters moved to nearby Gezi Park, where unrest continued into Wednesday morning.

On Tuesday Prime Minister Recep Tayyip Erdogan said he would not show "any more tolerance".

Protests began 13 days ago over the redevelopment of Gezi Park.

They then widened, with demonstrators accusing Mr Erdogan's government of becoming increasingly authoritarian and trying to impose conservative Islamic values on a secular state.

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More News On The Unrest In Turkey

Turkish police and protesters battle for control of Taksim Square -- The Guardian
Turkey police renew sweep in Istanbul's Taksim Square, clash with protesters -- CBS/AP
Skirmishes in Turkey after police storm Istanbul square -- Reuters
Tear gas, fire, stun grenades: Chaos in Istanbul as police, protesters clash -- CNN
Violence flares as Turkey PM cracks down on protests -- AFP
Barricades crushed by police in Istanbul square -- FOX News
Turkish Police Push Into Square Near Park Protest -- New York Times
Protesters regain control of Taksim Square, refuse to back down -- ABC News (Australia)

Turkey Cracks Down On Protestors

Hundreds Of Riot Police Enter Taksim Square As Clashes In Turkey Intensify -- NBC

ISTANBUL – Hundreds of riot police clashed with protesters in Istanbul’s Taksim Square on Tuesday, as protests against the government of Prime Minister Tayyip Erdogan intensified.

The latest violence began Tuesday morning when police moved past barriers erected by the protesters and into the square to scatter a small number of people who have been camped there to protest redevelopment of the square.

Hundreds more protesters nearby, many wearing gas masks, joined to charge toward police, throwing Molotov cocktails and rocks, and police responded with round after round of tear gas canisters and frequent blasts from water cannons.

Tourists fled hotels near the square, covering their mouths with napkins, as clouds of noxious gas spread over a large area downwind of the center of the protests.

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More News On Turkey's Protests

Turkish Police Retakes Square Amid Clashes -- Bloomberg Businessweek
Clashes as Turkish PM urges protesters to quit park -- Reuters
Turkish riot police enter Gezi Park, after bursting past barricades in Taksim -- Haaretz/AP
Turkey cracks down on protests -- USA Today
Police Move to Clear Istanbul Square -- Wall Street Journal
Turkey riot police enter Taksim Square -- Euronews
Voices of Turkey's Taksim Square protesters -- BBC

Turkey's Deputy Prime Minister Apologises For 'Wrong And Unjust' Protest Break-Up -- The Telegraph

Turkey's deputy prime minister has apologised for the "wrong and unjust" attempts to break up protests, in a bid to end days of anti-government rallies across the country.

Faced with striking unions, continuing mass protests, and efforts to storm the prime minister's office in Istanbul, Bulent Arinc, the deputy prime minister took a conciliatory tone, trying to "reason" with the protesters.

"The use of excessive force shown against the people who initially started this protest with the motive of protecting the environment was wrong," he said.

"And it was unfair. So I apologise to those citizens," Mr Arinc said at a news conference in Ankara.

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More News On the Unrest In Turkey

Turkey Protests: Live Blog -- Al Jazeera
LIVE BLOG: Turkey unrest enters day five -- Haaretz/Reuters

Drunks, extremists, Twitter - Turkey's Erdogan blames all -- USA Today
Turkish Gov't Offers Apology as Protests Continue -- AP
Turkey's Deputy PM Apologizes for Police Crackdown -- Voice of America
Turkey's deputy prime minister apologizes amid protests, while union launches strike -- FOX News
Turkey deputy PM sorry for 'excessive force' -- Al Jazeera
Turkish deputy PM seeks to calm anti-government protests -- Reuters
Turkish deputy PM to meet protesters on Wednesday: report -- Xinhuanet
Turkish gov’t softens tone as protesters continue anti-government demos; 1 man dies -- Washington Post/AP
Turkey Clashes Persist as Erdogan Predicts Early End to Protest -- Bloomberg Businessweek
Thousands of protesters return to Istanbul -- The Australian
Turkey protests: Union to start two-day strike -- BBC
Unions join forces with Turkish protesters -- CNN
Female protesters in Turkey -- The Telegraph
US wades into row over Turkey protests -- The Guardian
Administration voices concern over Turkish unrest -- AP
Sound of silence: Turkey media under fire for ignoring protests -- Global Post
Analysis: Why Turkish protestors are furious with their country's media -- The Telegraph
Woman in red becomes leitmotif for Istanbul's female protesters -- Reuters
Turkey Protests Reveal Wider Political Struggle -- Al Pessin, Voice of America
The week that changed Turkey? -- CNN
As Turks Challenge Their Leader’s Power, He Tries to Expand It -- Tim Arango, New York Times
What's driving unrest and protests in Turkey? -- Jethro Mullen and Susannah Cullinane, CNN
The view from Taksim Square: why is Turkey now in turmoil? -- Elif Shafak, The Guardian
Turkey's protesters seize world's attention, but what's their goal? -- Tom A. Peter, Christian Science Monitor
How Tayyip Erdogan blew the response to Turkey's riots -- Harold Maass, The Week
Despite demonstrations, Erdogan is still a hero -- Constanze Letsch, The Guardian

The Growing Role Of Social Media In Covering The Unrest In Turkey

Turkey Protesters Take to Twitter as Local Media Turns a Blind Eye -- Mashable

With local media failing to adequately cover the ongoing anti-government protests in Turkey, Twitter has become a vital tool for Turks to share what's happening in Istanbul and around the country.

Twitter playing a role in political demonstrations around the world is far from a new phenomenon — the platform was crucial during the Egyptian revolution of 2011, for example. However, data collected since Friday suggest Turks are using protest-related hashtags to transmit information from the ground to an extent never before witnessed: 10 million tweets have been sent using the most popular hashtags over the last three days, according to data from New York University's Social Media and Political Participation laboratory.

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More News On The Growing Role Of Social Media In Covering The Unrest In Turkey

Amid Turkey Unrest, Social Media Becomes a Battleground -- Wall Street Journal
Turkish protests blamed on opposition, Twitter -- UPI
PM Erdogan says social media 'danger to society' -- YNet News
Turkish Prime Minister Calls Twitter A ‘Menace To Society’ Amid Protests -- Think Progress
A social media fueled protest style: From Tahrir to Taksim -- Al Arabiya
Turkey Protests: How Social Media Helps Media Disseminate Information -- Digital Times
Twitter is Turkey's only hope amid riots -- The Telegraph
A breakout role for Twitter in the Taksim Square protests? -- Al Jazeera

The Iconic Photo That Captures The Unrest In Turkey

Protesters and police in Istanbul’s Taksim Gezi Park last week. (REUTERS/Osman Orsal)

The Photo That Encapsulates Turkey’s Protests And The Severe Police Crackdown -- Max Fisher, Washington Post

Turkey’s protest movement has ebbed and flowed dramatically over the past week, as has the government’s sometimes heavy-handed response, but this photo from last Tuesday, the second day of large-scale demonstration, remains an iconic and affecting symbol of the ongoing movement.

The photo was snapped by Reuters photographer Osman Orsal in Istanbul’s Taksim Gezi Park, where the movement began with a peaceful sit-in protesting the government’s plan to turn the green space into a shopping mall. Police moved in to clear the square, deploying barricades, tear gas and pepper spray. These photos show the crackdown in action, with the young urbanite Turks who had gathered at the square – the sorts of people who would hold a sit-in to protect city green space – clearly surprised by the police’s severity.

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Previous Post: Turkey's Rebellion In 90 Seconds (Video)

My Comment: This photo has made the rounds on social media .... and not surprisingly .... Turkey's prime Minister Recep Tayyip Erdogan is now calling social media "the worst menace to society".

Commentaries, Opinions, And Analysis On The Unrest In Turkey

Why Turkey's Protests Are No Arab Spring -- Fadi Hakura, Special to CNN

(CNN) -- Taksim Square is Istanbul's equivalent to Cairo's Tahrir Square or London's Trafalgar Square and it is now the epicenter of demonstrations triggered by construction plans for a shopping center in one of the city's few remaining green spaces.

What was initially a small sit-in has morphed into a major series of protests due to -- in the words of Turkish Prime Minister Recep Tayyip Erdogan -- "excessive force" by the police.

These protests reflect, in part, the deep ideological polarization between secular, liberal-minded Turks, and the more religious Turks, representing a quarter and two-thirds of the population respectively based on the 2011 general election results.

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Commentaries, Opinions, And Analysis On The Unrest In Turkey

Five things you should know about Turkey -- The Telegraph
Turkey protests 'a warning' to Erdogan -- The Telegraph
What's Really Fueling The Turkish Protests? -- Charles Recknagel, Radio Free Europe
Protests in Turkey: Will Taksim Become Erdogan’s Tahrir Square? -- Piotr Zalewski, Time
Insight: Simmering anger at Erdogan's authoritarianism boils over in Turkey -- Ayla Jean Yackley, Reuters
Is this the Turkish Spring? The view from the euronews Istanbul correspondent -- Euronews
Turkey’s Taksim Square: a symbol of political struggle -- France 24
Istanbul park protests sow the seeds of a Turkish spring -- Richard Seymour, The Guardian
Turkey protests expose anxiety over Erdogan's growing autocratic ambitions -- Simon Tisdall, The Guardian
Analysis: The hopes that blaze in Istanbul -- Paul Mason, BBC
Turkey protests: 'It's a fight for freedom' -- BBC
No Arab Spring: Turkey's Violent Protests in Context -- Forbes/Stratfor
Taksim Is Not (Yet) Tahrir -- james Dorsey, Huffington Post

The Growing Unrest In Turkey -- News Updates June 3, 2013

Turkish PM Blames Protests on Extremists -- Voice of America

Turkish Prime Minister Recep Tayyip Erdogan has accused anti-government protesters of walking "arm-in-arm with terrorism," as he blamed "extremist elements" for three days of some of the most violent riots in years.

His comments Monday came as the Turkish Doctors' Association said a 20-year-old Turkish man died when a vehicle slammed into a crowd of protesters who were marching late Sunday. It was the first known death related to the demonstrations.

Speaking to reporters before departing on a planned four-day trip to North Africa, Erdogan dismissed the protests as the work of secularist enemies who never accepted the mandate of his Islamist AKP party, which has won three straight elections.

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More News On The Unrest In Turkey

Turkey Protests Live Blog -- Al Jazeera
LIVE BLOG: Turkey unrest enters fourth day -- Haaretz/AP/Reuters
Turkish president clashes with prime minister over protests - live updates -- The Guardian
LIVE: Clashes at Turkish anti-government protests -- AFP

Anti-government riots erupt in Turkey -- CNN
Anti-government protesters in Turkey hold onto square -- USA Today
Turkey protests show no sign of letdown -- CNN
Thousands take to streets in Turkey, clash with police -- Reuters
Turkey protests: Clashes rage in Istanbul's Besiktas -- BBC
At least 1,500 protesters arrested in Ankara: opposition leader -- Xinhuanet
Dispatch from Istanbul: The protests rage on -- The Week
Turkey clashes: Chaos and camaraderie in Istanbul -- BBC
Turkey’s Leader Blames Rioting on Extremists -- New York Times
Social media and opposition to blame for protests, says Turkish PM -- The Guardian
Erdogan Calls Protesters Extreme; Istanbul Barricades Remain -- Bloomberg
Erdogan maintains hard stance on protests -- The Guardian/AP
Turkish premier brands protesters extremists -- Reuters
Turkey's Erdogan dismisses protests: 'What is the message?' -- Christian Science Monitor
Erdogan blames 'extremists' for Turkey riots -- The Al Jazeera
Maintaining hard stance Erdogan dismisses protests, but president defends people’s right -- Washington Post/AP
Turkey: 'message received', says President Gul -- The Telegraph
Turkish president defends people's right to protest -- The Guardian
Turkey's Middle Class Fuels Protests -- Bloomberg Businessweek
Turkish stock market falls 10.5% as demonstrations escalate -- BBC

Turkey's Rebellion In 90 Seconds (Video)

TURKISH REBEL IN 90 SECONDS! from Memento Mori on Vimeo.

A Stunning 90-Second Video Of Turkey’s Protests -- Max Fisher, Washington Post

Protesters and riot police are clashing for a second day in Istanbul, after Friday’s demonstrations injured 1,000 people, according to a Turkish doctors’ association, apparently intensifying the already deep outrage against Prime Minister Recep Tayyip Erdogan’s government.

The protests started over the government’s plan to turn a park into a mall but have since, according to the New York Times, “become a broad rebuke to the 10-year leadership of Mr. Erdogan and his Islamist-rooted Justice and Development Party, which the protesters say has adopted authoritarian tactics.”

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My Comment: The unrest in Turkey has the potential to become something even deeper if Prime Minister Recep Tayyip Erdogan’s government does not step back. My prediction .... the government will not back down.

Turkey Unrest Enters The Third Day

Anti-Government Protests Spread Across Turkey -- USA Today

Amnesty International said two were killed and more than 1,000 injured in clashes.

ISTANBUL — Thousands of anti-government protesters continued demonstrations Sunday in Istanbul and several major cities across Turkey, speaking against rising authoritarianism and calling for the government to resign after police used violence against demonstrators marching against plans to demolish a local park.

Demonstrators say they are alarmed with the rising power of Prime Minister Recep Tayyip Erdogan, whose Islamist-rooted Justice and Development Party has won plaudits for its democratic and economic reforms but has recently become more restrictive on social issues.

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More News On The Unrest In Turkey

Turkey Protests: Live Blog -- Al Jazeera
LIVE BLOG: Turkey unrest enters third day -- Haaretz
Protestors occupy Istanbul square after hundreds detained -- International News/AFP
Turkey protests: Hundreds reoccupy Istanbul square -- BBC
Protesters return to Turkey's Taksim Square -- Al Jazeera
Police leave Istanbul square to protesters -- The Telegraph
Istanbul police retreat as protests take hold -- Sydney Morning Herald
Turkish Protesters Use Ruined Cars to Continue Anti-Erdogan Push -- Bloomberg Businessweek
Turkish police detained 939 people in protests: Interior Minister -- Reuters