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Turkey crisis deepens as lira hits new low

Turkey crisis deepens as lira hits new low

The Turkish lira sunk 7 percent Monday after dropping roughly 20 percent Friday amid growing concerns over the country’s economy and souring ties with western allies.

German Chancellor Angela Merkel urged Turkey on Monday to ensure the independence of its central bank and allow it to make necessary changes to save its economy.

But everything must be done to ensure an independent central bank,” Merkel said during a news conference in Berlin, according to Reuters.

The White House and lawmakers have demanded that Erdo?an release Andrew Brunson, a Christian pastor arrested in Turkey almost two years ago, and allow him to return to the U.S.

The Turkish central bank sought to tamp down concerns Monday with a pledge to provide as much financing as necessary to salvage the country’s economy.

Source: thehill.com
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