Turkey asks Germany for economic help

[ValerioAurelius]

The turkish finance minister Mehmet Simsek visited german finance minister Wolfgang Schäuble.

The topic was that Germany was asked to slow down the economic collapse Turkey faces

https://magazin.spiegel.de/SP/2017/9/149766084/?utm_source=spon&utm_campaign=centerpage

https://www.welt.de/wirtschaft/arti...-Wirtschaftskrise-Berlins-Hilfe.html#Comments

Put through translator:

"Turkey wants support for the economy

In order to slow the economic decline of Turkey, the government in Ankara is looking for foreign partners. The Turks place particular hope on Germany. Last Wednesday, Deputy Prime Minister Mehmet Şimşek spoke to Federal Minister of Finance Wolfgang Schäuble (CDU). The confidential meeting also concerned the unstable economic situation in Turkey and the question of how Germany could help to stabilize the turkish economy. The main question was how to attract more European tourists, especially German tourists, to Turkey. Schäuble made it clear to his guest that his government must take a more resolute approach to terrorism in order to calm the security situation. The discussion also looked at how the development banks of both countries could work together to promote the economy of rural areas in Turkey. After the failed coup attempt and subsequent political turmoil, the Turkish economy has entered the recession. Tourists avoid the country. Support for the government of President Recep Tayyip Erdoğan is politically delicate because he wants to convert Turkey into an autocratic presidential system. In April the Turkish people will decide in a referendum. The federal government wants to avoid the impression that it supports Erdoğan in its campaign"

I won´t make any personal comment regarding this. The economic development is really interesting. I think a big problem beside the collapse in tourist area is, that rating agencies downrated turkish stocks to the lowest level. This creates enormous high interest rates.

It will be interesting to see how the investments can be won back.

The German finance minister denied any help and just gave the advice that turkey must do something to better its security situation.

@waz @Vergennes @flamer84

 

[-SINAN-]

The turkish finance minister Mehmet Simsek visited german finance minister Wolfgang Schäuble.

The topic was that Germany was asked to slow down the economic collapse Turkey faces

https://magazin.spiegel.de/SP/2017/9/149766084/?utm_source=spon&utm_campaign=centerpage

https://www.welt.de/wirtschaft/arti...-Wirtschaftskrise-Berlins-Hilfe.html#Comments

Put through translator:

"Turkey wants support for the economy

In order to slow the economic decline of Turkey, the government in Ankara is looking for foreign partners. The Turks place particular hope on Germany. Last Wednesday, Deputy Prime Minister Mehmet Şimşek spoke to Federal Minister of Finance Wolfgang Schäuble (CDU). The confidential meeting also concerned the unstable economic situation in Turkey and the question of how Germany could help to stabilize the turkish economy. The main question was how to attract more European tourists, especially German tourists, to Turkey. Schäuble made it clear to his guest that his government must take a more resolute approach to terrorism in order to calm the security situation. The discussion also looked at how the development banks of both countries could work together to promote the economy of rural areas in Turkey. After the failed coup attempt and subsequent political turmoil, the Turkish economy has entered the recession. Tourists avoid the country. Support for the government of President Recep Tayyip Erdoğan is politically delicate because he wants to convert Turkey into an autocratic presidential system. In April the Turkish people will decide in a referendum. The federal government wants to avoid the impression that it supports Erdoğan in its campaign"

I won´t make any personal comment regarding this. The economic development is really interesting. I think a big problem beside the collapse in tourist area is, that rating agencies downrated turkish stocks to the lowest level. This creates enormous high interest rates.

It will be interesting to see how the investments can be won back.

The German finance minister denied any help and just gave the advice that turkey must do something to better its security situation.

@waz @Vergennes @flamer84

Turkish economy collapsed or collapsing or will collapse ?

It's estimated that Turkish economy will expand %2.4 in 2017 and %3.0 in 2018.

Interesting article, it's seems far from the facts.

 

[damm1t]

Yet another hopeless wish since the title sounds like that Turkey asks money from Germany... Typical German media..

 

[-SINAN-]

he currency dropped more than 9% against the dollar in the year’s first eight trading days, and this figure adds to last year’s 17% slump. The Turkish lira’s depreciation made it one of the worst emerging-market performers in 2016.

Jan 11. Dolar was 3.95

2 days ago it was 3.50.

Anyways, you can wish for it anything, i guess.

 

[BHarwana]

Turkish personals in NATO 620,473
Turkish deploy able personals 411,000
So turkey is a large contributor to NATO after US. Turkey should be given that money for providing Europe security.

 

[damm1t]

Turkish personals in NATO 620,473
Turkish deploy able personals 411,000
So turkey is a large contributor to NATO after US. Turkey should be given that money for providing Europe security.

Forget bud, Germany still didn't give 3 billion that they promised for refugee deal and they will not but it will be surely used against them when time comes. Our minister probably went there to ask that money. You can't trust Europeans.

 

[Accolades]

If the report is true then Turkey should join CPEC asap.

 

[BHarwana]

Forget bud, Germany still didn't give 3 billion that they promised for refugee deal and they will not but it will be surely used against them when time comes. Our minister probably went there to ask that money. You can't trust Europeans.

They will pay just tell the refugees that they are allowed to walk into Europe and EU will come to it's senses.

 

[Attila the Hun]

I won´t make any personal comment regarding this.

Why not?

 

[SouI]

If turkish economy expands 2.5% this year it would still be not enough to compensate the fall of the Lira.

It just means imports will be lower, not saying much about GDP.

And it is real growth. If inflation is about 10% then Turkey's economy will grow 12-13%.

It is good for Turkey to lower the ratio of its intl economic acticity to its total GDP, making it more immune to global economic shocks.

If the report is true then Turkey should join CPEC asap.

CPEC is not a magical wand. And our economy is deeply integrated with those of Europe and China.

Economy is a bit more complicated.

 

[mike2000 is back]

Another Bullshit report.

 

[blondeturkish]

The turkish finance minister Mehmet Simsek visited german finance minister Wolfgang Schäuble.

The topic was that Germany was asked to slow down the economic collapse Turkey faces

https://magazin.spiegel.de/SP/2017/9/149766084/?utm_source=spon&utm_campaign=centerpage

https://www.welt.de/wirtschaft/arti...-Wirtschaftskrise-Berlins-Hilfe.html#Comments

Put through translator:

"Turkey wants support for the economy

In order to slow the economic decline of Turkey, the government in Ankara is looking for foreign partners. The Turks place particular hope on Germany. Last Wednesday, Deputy Prime Minister Mehmet Şimşek spoke to Federal Minister of Finance Wolfgang Schäuble (CDU). The confidential meeting also concerned the unstable economic situation in Turkey and the question of how Germany could help to stabilize the turkish economy. The main question was how to attract more European tourists, especially German tourists, to Turkey. Schäuble made it clear to his guest that his government must take a more resolute approach to terrorism in order to calm the security situation. The discussion also looked at how the development banks of both countries could work together to promote the economy of rural areas in Turkey. After the failed coup attempt and subsequent political turmoil, the Turkish economy has entered the recession. Tourists avoid the country. Support for the government of President Recep Tayyip Erdoğan is politically delicate because he wants to convert Turkey into an autocratic presidential system. In April the Turkish people will decide in a referendum. The federal government wants to avoid the impression that it supports Erdoğan in its campaign"

I won´t make any personal comment regarding this. The economic development is really interesting. I think a big problem beside the collapse in tourist area is, that rating agencies downrated turkish stocks to the lowest level. This creates enormous high interest rates.

It will be interesting to see how the investments can be won back.

The German finance minister denied any help and just gave the advice that turkey must do something to better its security situation.

@waz @Vergennes @flamer84

maybe they should first help Italy which is over run by mafia and african migrants

 

[Jinn Baba]

If the report is true then Turkey should join CPEC asap.

LOL

 

[50cent]

Markus just asking why European neo Nazis hate turkey . any reason .

 

[BHarwana]

The migrants can overrun Lesbos. A small island in the Aegean. They arent transported on the continent. Also i dont know if it reached Pakistan yet, but the Balkan is closed. Conditions on Lesbos are so horrible for them, that the ones who tried reaching Europe, actually even try to swim back Turkey

http://www.dailymail.co.uk/news/article-3586369/Migrants-rescued-try-swim-Turkey-Greece.html

http://www.breitbart.com/london/2016/05/11/watch-disappointed-migrants-swim-back-turkey-greece/

The refugee deal was needed untill those firewalls had to be build up. It was that time when EU promised money and free visa.

Since this goal was achieved (Balkan closed) there is no need to follow this any longer. As experts say, Turkey used to threat again and again to let the deal bust. The deal has become obsolete. So the EU doesnt give free Visa and also not the money.

You can only use refugees as weapon when those refugees are willing to go.

I´m not a fan of broken promises but thats the reality.

If the EU promised payments, they should be made. It was only a small amount of money and i dont see any reason why they should not pay it.

The Visa deal is a different thing. That doesnt benefit Europe in the slightest and as it seems Turkey realized it wont happen. At least you dont hear them asking for it anylonger.

And no, the far right doesnt hate Turkey. Turkey is an important country in the eastern mediterrenean. Its natural that security and military watchs the development there so it can react if a bad situation starts to develop there.

Now if you ask me i think the far left in Europe does hate Turkey.

I think the situation in the eastern med must be watched so our officials can react to any situation that might start to develop there. Relations are at the bottom, yes but maybe it gets better, who knows? In the end you cant chose your neighbor and have to work with each other.

So you mean to say that Turkey cannot push them to EU? LOL you really want to try that option. If you ask me I am looking at an open sea and thousands of boats moving towards EU if they don't pay. So either EU will have to shoot them which will be against Geneva convention or pay billions of Dollars to relocate them to other countries. About Pakistan we have taken the most refugees in the world just check the UN figures.