August 13, 2018
Is The Bridge Between East & West Collapsing?
The nation of Turkey finds itself teetering on the edge of a financial crisis & stricken with sanctions for holding an American hostage.
The worldwide impact
“Turkey is a NATO ally & a traditional buffer between the West and the Middle East. A …Over the last decade, however, under President ErdoA an, the country has become increasingly radical and anti-American. We are watching our alliance with the crucial country unravel in real time.“
Dr. Jonathan Schnanzer, Senior VP with an expertise on Turkey for the Foundation For Defense of Democracies, to SmartHER News
Turkey: What’s Going On?
- Currency (lira) declining in value.
- Why? Turkey & Turkish companies carry crushing debt, sparking concerns about ability to pay back loans.
- This ignites fear for global investors, banks, & countries with exposure to Turkish debt who worry about losing investments.
The U.S.A.?
“Our relations with Turkey are not good at this time!”
President Trump tweet (Fri. Aug 8)
- U.S. pastorA Andrew Brunson arrested in Turkey 2016 on espionage charges.
- Recent high-level mtgs failed to secure his release. U.S. imposed sanctionsA on two Turkish officials Aug 1; Pres. threatened more Fri.
- Sanctions didn’t cause Turkey’s economic crisis, but added attention to it.
What Turkey Says:
‘What is the reason for all this storm in a tea cup? There is no economic reason for thisa| This is called carrying out an operation against Turkey,’
President Erdo an, speaking at a rally on Sunday August 11, 2018
Bigger Picture: Turkey became a member of NATO (North Atlantic Treaty Organization) in 1952, 3 years after NATO was established. Pres. ErdoA an threatened in a NYT editorial to walk away from the alliance & find new friends (many read this as Russia). Read it here.
Jonathan Schanzer to SmartHER News:A Turkey is a NATO ally and a traditional buffer between the West and the Middle East. And it has been extremely useful in this regard in terms of helping us keep the US-led order in the Middle East. Over the last decade, however, under President Recep Tayyip Erdogan, the country has become increasingly radical and anti-American. We are watching our alliance with the crucial country unravel in real time. And we may also be watching Turkey switch sides from America to Team Russia and Iran.A http://www.defenddemocracy.org/about-fdd/team-overview/schanzer-jonathan/
- Erdogan: How Turkey Sees the Crisis With the U.S.
https://www.nytimes.com/2018/08/10/opinion/turkey-erdogan-trump-crisis-sanctions.html - Turkey’s Erdogan stands by opposition to high interest rates:
https://www.reuters.com/article/us-turkey-currency-erdogan/turkeys-erdogan-stands-by-opposition-to-high-interest-rates-idUSKBN1KX0IHA - What the collapse of Turkey’s currency means for the US and the rest of the world:
https://finance.yahoo.com/news/collapse-turkeys-currency-means-us-rest-world-120943269.html - Treasury Sanctions Turkish Officials with Leading Roles in Unjust Detention of U.S. Pastor Andrew Brunson:
https://home.treasury.gov/news/press-releases/sm453 - Trump’s announcement doubling tariffs on Turkey comes after failure to free American pastor:
https://www.cbsnews.com/news/trumps-announcement-upping-tariffs-on-turkey-comes-after-failure-to-free-american-pastor/ - Why NATO Matters:
https://www.nytimes.com/2018/07/08/opinion/editorials/why-nato-matters.html
by Jenna Lee,
