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How could Turkey overcome its currency woes?

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15.08.2018

Not long ago it would have been deemed inconceivable to see Turkey, a long-standing US ally and staunch member of NATO, in the list of countries that US has been targeting and threatening with strong economic and political sanctions.

Ties between Washington and Ankara have been strained for a while over many critical issues such as differences on Syria policy, a Turkish banker's conviction in the US, S-400 missile defence system deal, halt in delivery of F-35 military jets to Turkey and Washington's reluctance to extradite Gulenist Terror Group (FETÖ) leader Fethullah Gulen.

Similarly, the case of Pastor Andrew Brunson, jailed in Turkey on terrorism charges, has been burning like a slow fuse for nearly two years, flared up in recent weeks with the US threatening Turkey with large sanctions unless he is released immediately.

It is quite clear that evangelical pastor has turned into a top issue in Turkey-US relations because white evangelicals played a crucial role in the election of Trump in 2016. And now Trump seems quite decisive in taking actions that are likely to consolidate his core power base as he approaches midterm elections that will take place in November. Unfortunately, by wreaking havoc with the Turkish economy and its financial markets, the Trump Administration has brought the bilateral relationship between the two countries........

© Al Jazeera