Turkish lira crisis fuelled by Trump and Erdogan misunderstanding
(The Guardian Turkey)

Sources claim misconstrued deal between two leaders about the releases of Turkish and US nationals led to economic turmoil The currency plunge imperilling Turkey´s economy has been fuelled by a standoff between Donald Trump and Recep Tayyip Erdogan over the fate of a Turkish woman detained in Israel whose freedom the US president brokered, and an American pastor held in Turkey whose release he demands in return, officials in Ankara claim.Turkish leaders say a synchronised release of the pair - Turkish woman Ebru Özkan, jailed for alleged links to Hamas, and Andrew Brunson, a preacher from North Carolina - was discussed at a Nato summit on 11 July. The conversation predated the confidence crisis now enveloping the Turkish economy, but is seen as a political raison d´etre for a series of US measures that culminated in new tariffs imposed on Turkey on Friday. Related: How serious is Turkey`s lira crisis and what are the implications? Related: Lira crisis: action by Turkey`s central bank fails to quell contagion fears Continue reading...