Erdogan invokes patriotism, Islam as lira remains under …
ISTANBUL (Reuters) - President Tayyip Erdogan appealed to Turks religious and patriotic feelings ahead of a major Muslim holiday on Monday, promising they would not be brought to their knees by an economic crisis that has battered the lira currency.
FILE PHOTO - Turkish President Tayyip Erdogan attends a news conference in Ankara, Turkey, August 14, 2018. REUTERS/Umit Bektas
The lira TRYTOM=D3 has tumbled some 40 percent this year, hit by worries about Erdogan's influence over monetary policy and a worsening diplomatic rift with the United States. The sell-off has spread to other emerging market currencies and global stocks in recent weeks.
Highlighting the increased tensions, the U.S. embassy in the Turkish capital Ankara came under brief gunfire early on Monday by unknown assailants in an attack condemned by Erdogans spokesman as a bid to create chaos. Nobody was hurt. A person was later detained, Anadolu news agency said.
In a pre-recorded address to mark the four-day Eid al-Adha festival, which starts on Tuesday, Erdogan, a pious Muslim, sounded a characteristically defiant note as he lashed out at those selling the lira.
The attack on our economy has absolutely no difference from attacks on our call to prayer and our flag. The goal is the same. The goal is to bring Turkey and the Turkish people to their knees - to take it prisoner, Erdogan said in the televised address.
Those who think they can make Turkey give in with the exchange rate will soon see that they are mistaken.
Erdogan stopped short of directly naming any countries or institutions, but he has, in the past, blamed a shadowy interest rate lobby, Western ratings agencies and financiers.
Much of the recent tension has centered around a U.S. evangelical Christian pastor, Andrew Brunson, who has been detained in Turkey on terrorism charges, which he denies.
Brunson, originally from North Carolina, has lived in Turkey for two decades and has become an unwitting flashpoint for the diplomatic rift.
On Friday, a Turkish court rejected Brunsons appeal for release, drawing a stiff rebuke from President Donald Trump, who said the United States would not take the detention of the pastor sitting down.
In response to Brunsons case, Trump - who counts evangelical Christians among his core supporters - has said he would double previously announced tariffs on Turkish steel and aluminum imports.
Turkey said on Monday it had initiated a dispute complaint with the World Trade Organisation over the additional tariffs.
The lira weakened to 6.1290 to the dollar by 1546 GMT on Monday, from a close of 6.0100 on Friday.
On Friday two ratings agencies, Moodys and Standard & Poors, further cut Turkeys sovereign rating into junk territory.
The downgrades confirmed prevailing concerns that Turkey is unlikely to avoid a significant slowdown in economic activity and that the liras fall poses a risk to financial stability, said Piotr Matys, an emerging markets strategist at Rabobank.
In addition to the lira, Turkeys sovereign dollar bonds fell and the cost of insuring its debt rose.
The German finance minister said on Monday the Turkish currency crisis posed an additional risk to Germanys economy.
However, German Chancellor Angela Merkel told her Christian Democrats at a meeting that she saw no urgent need to offer financial aid to Turkey to ease the crisis, the partys general secretary said.
Qatar and Turkeys central banks last week signed a $3 billion currency swap agreement, a move designed to provide liquidity and financial stability.
That came days after Qatars emir approved a $15 billion package of economic projects, investments and deposits for Turkey.
Reporting by Daren Butler; Editing by David Dolan and Gareth Jones
See original here:
Erdogan invokes patriotism, Islam as lira remains under ...
- Putin, Xi, Erdogan, Modi: Dont Fall for Myth of the Brittle Strongman - Bloomberg.com - January 9th, 2026 [January 9th, 2026]
- Turkeys Erdogan talks to Trump about Gaza, Venezuela, ties - The Times of Israel - January 9th, 2026 [January 9th, 2026]
- Turkey's Erdogan Tells Trump Violating Sovereignty Risks 'Serious Global Complications' After Maduro's Capture - Latin Times - January 9th, 2026 [January 9th, 2026]
- Erdogan to Trump: Venezuela must not be dragged into instability - TRT World - January 9th, 2026 [January 9th, 2026]
- Erdogan Is Wrong: Any Role for Turkey in Gazas Future Would Be A Disaster, Says U.S. Pro-Israel Group - thejewishvoiceandopinion.com - January 9th, 2026 [January 9th, 2026]
- Erdogan: Turkey ready to make Istanbul center of peace talks between Ukraine and Russia - Ukrinform - January 9th, 2026 [January 9th, 2026]
- Turkey seeks end to war through just peace agreement Erdogan's adviser - Ukrinform - January 9th, 2026 [January 9th, 2026]
- Erdogan to Talk Ukraine and Gaza with Trump on Monday - Caspian Post - January 4th, 2026 [January 4th, 2026]
- UKRAINERUSSIAWAR. Erdogan calls Trump and they also discuss Ukraine. Kherson will be razed to prevent it from falling into Russian hands - agc... - January 4th, 2026 [January 4th, 2026]
- Erdogan says he will speak to Trump on Monday about war in Ukraine, Gaza - The Times of Israel - January 2nd, 2026 [January 2nd, 2026]
- Turkish President Erdogan says he will speak with Trump on Monday on Ukraine, Gaza - Anadolu Ajans - January 2nd, 2026 [January 2nd, 2026]
- Erdogan confirms phone call with Trump scheduled for Monday - Trkiye Today - January 2nd, 2026 [January 2nd, 2026]
- Erdogan, Trump to speak on Monday - breakingthenews.net - January 2nd, 2026 [January 2nd, 2026]
- Erdogan says he will speak to Trump on Monday about war in Ukraine, Gaza - - January 2nd, 2026 [January 2nd, 2026]
- Erdogan said he would discuss the peace process in Ukraine with Trump and is in contact with Zelenskyy - - January 2nd, 2026 [January 2nd, 2026]
- Erdogan to hold phone call with Trump on Monday on Ukraine - . - January 2nd, 2026 [January 2nd, 2026]
- Erdogan and Trump: A Diplomatic Call for Peace - Devdiscourse - January 2nd, 2026 [January 2nd, 2026]
- Erdogan plans to discuss war in Ukraine, situation in Gaza with Trump on Jan 5 - Interfax-Ukraine - January 2nd, 2026 [January 2nd, 2026]
- Trump credits Erdogan with Assads fall in Syria, claims Netanyahu agrees with that - The Times of Israel - December 31st, 2025 [December 31st, 2025]
- Erdogan warns against threats to Turkeys Blue Homeland in year-end address - eKathimerini.com - December 31st, 2025 [December 31st, 2025]
- Erdogan calls Israeli recognition of Somaliland illegitimate and unacceptable - The Times of Israel - December 31st, 2025 [December 31st, 2025]
- Erdogan Issues Threats in New Years Message - tovima.com - December 31st, 2025 [December 31st, 2025]
- Trump says he has great relationship with Erdogan, signals talks on Turkish role in Gaza - Trkiye Today - December 31st, 2025 [December 31st, 2025]
- Trump says he doesn't agree '100%' with Netanyahu on West Bank; claims PM 'respects' Erdogan - The Times of Israel - December 31st, 2025 [December 31st, 2025]
- Erdogan: We will continue fighting 'bloodthirsty' ISIS - breakingthenews.net - December 29th, 2025 [December 29th, 2025]
- Emine Erdogan: We believe, like Palestinians, that Gaza will rise from the ashes - TRT World - December 29th, 2025 [December 29th, 2025]
- The crash that decapitated Libya and exposed Erdogan - Ynetnews - December 27th, 2025 [December 27th, 2025]
- ERDOGAN DRAWS A LINE: TURKEY MOVES IN ALLIANCE WITH LEBANON AGAINST ISRAEL Whats happening on its southern doorstep of Turkey its a serious threat:... - December 27th, 2025 [December 27th, 2025]
- 'We will not let anyone oppress you,' Erdogan assures Turkish diaspora - Trkiye Today - December 27th, 2025 [December 27th, 2025]
- 'We will not allow our rights to be usurped' in Aegean, Med: President Erdogan - Trkiye Today - December 27th, 2025 [December 27th, 2025]
- Erdogan rejects Israel's stance on Lebanon - breakingthenews.net - December 27th, 2025 [December 27th, 2025]
- Erdogan warns Israel, Greece and Cyprus: Turkey will defend its maritime rights - Ynetnews - December 22nd, 2025 [December 22nd, 2025]
- Netanyahu Sends Brutal Warning to Erdogan as Israel and Allies Form New Military Front - JFeed - December 22nd, 2025 [December 22nd, 2025]
- Putin, Erdogan did not discuss S-400 issue at their meeting last week: Kremlin - Anadolu Ajans - December 22nd, 2025 [December 22nd, 2025]
- Facing Erdogan: Israel, Greece and Cyprus build united front to deter Turkey - Ynetnews - December 22nd, 2025 [December 22nd, 2025]
- Erdogan meets family of Hind Rajab, six-year-old killed during Israeli attack in Gaza - TRT World - December 22nd, 2025 [December 22nd, 2025]
- Trkiye stands upright and unwavering with Gaza: President Erdogan - Trkiye Today - December 22nd, 2025 [December 22nd, 2025]
- Russia denies Bloomberg report that Putin, Erdogan discussed S-400s return in Ashgabat - Trkiye Today - December 22nd, 2025 [December 22nd, 2025]
- Erdogan warns against 'zone of confrontation' in Black Sea after strikes - Middle East Eye - December 14th, 2025 [December 14th, 2025]
- Erdogan says Trkiye strives to promote peace and dialogue - Anadolu Ajans - December 14th, 2025 [December 14th, 2025]
- Erdogan, after meeting Putin, says peace between Russia and Ukraine not far away - The Times of Israel - December 14th, 2025 [December 14th, 2025]
- Kremlin defends 90-minute Putin-Erdogan meeting as addressing sensitive topics - Trkiye Today - December 14th, 2025 [December 14th, 2025]
- Trump-Erdogan ties are propelling F-35 talks with once-banned partner - Defense News - December 14th, 2025 [December 14th, 2025]
- Erdogan and Putin agree to meet in near future - AKIpress News Agency - December 14th, 2025 [December 14th, 2025]
- Turkeys Erdogan urges Putin to accept limited Ukraine-Russia ceasefire - The Times of Israel - December 14th, 2025 [December 14th, 2025]
- Oscar-Winning No Other Land Co-Director Lauded By President Erdogan - turkishjournal.com - December 14th, 2025 [December 14th, 2025]
- BREAKING: RUSSIA STRIKES TURKISH SHIP IN UKRAINIAN PORT... RIGHT AFTER PUTIN-ERDOGAN PEACE CHAT Russian forces hammered a civilian bulk carrier docked... - December 14th, 2025 [December 14th, 2025]
- Erdogan Warns Against Turning the Black Sea into a Confrontation Zone - Jordan News - December 14th, 2025 [December 14th, 2025]
- RUSSIA STRIKES TURKISH SHIPS HOURS AFTER PUTIN ERDOGAN CALL Just hours after a phone call between Erdogan and Putin on Friday, Russian forces launched... - December 14th, 2025 [December 14th, 2025]
- Erdogan sees Ukraine peace within reach after Putin talks, plans Trump discussions - Trkiye Today - December 14th, 2025 [December 14th, 2025]
- "Peace is not far off": Erdogan after meeting with Putin said he wants to talk to Trump - - December 14th, 2025 [December 14th, 2025]
- Peskov: Putin and Erdogan discussed the EU's "grandiose scam" with Russia's assets - EADaily - December 14th, 2025 [December 14th, 2025]
- Peace is not far away says Erdogan, returning from Putin meeting - The Hindu - December 14th, 2025 [December 14th, 2025]
- Erdogan intends to discuss Ukraine plan with Trump - breakingthenews.net - December 14th, 2025 [December 14th, 2025]
- PM Shehbaz, Erdogan Align on Stability and Counterterrorism - The Diplomatic Insight - December 14th, 2025 [December 14th, 2025]
- Turkey Jabs India Over Kashmir, Again! Erdogan Bets On Pakistan, BDesh & Diyanet To Lead The Islamic World - EurAsian Times - December 2nd, 2025 [December 2nd, 2025]
- Zelensky Defies Erdogan's Warning; Kyiv's Drones Attack Third Russian Tanker Near Turkey In 48 Hours - Times of India - December 2nd, 2025 [December 2nd, 2025]
- Pope Leo meets Erdogan, says two-state solution is the only path forward in Middle East - South African Jewish Report - December 2nd, 2025 [December 2nd, 2025]
- "Alarming escalation of the situation": Erdogan commented on attacks on Russia's "shadow fleet" in the Black Sea - - December 2nd, 2025 [December 2nd, 2025]
- Pope lands in Turkey to meet Erdogan on first overseas trip - The Mountaineer - December 2nd, 2025 [December 2nd, 2025]
- Pope to meet Erdogan in Turkey in first overseas trip - The Mountaineer - December 2nd, 2025 [December 2nd, 2025]
- Turkey Jails Journalist for YouTube Comments Deemed Threatening to Erdogan - Balkan Insight - December 2nd, 2025 [December 2nd, 2025]
- Pope Leo Lands in Turkey, Planning to Meet Erdogan With a Message of Outreach - The New York Times - November 30th, 2025 [November 30th, 2025]
- Erdogan hopes Trump will convince Israel to accept Turkish participation in ISF - Yahoo - November 30th, 2025 [November 30th, 2025]
- Erdogan says he admires popes astute stance on Palestinian issue - The Times of Israel - November 30th, 2025 [November 30th, 2025]
- Erdogan Asks Trump for Turkish Role in Gazas International Stabilization Force - The Media Line - November 30th, 2025 [November 30th, 2025]
- Erdogan says Turkey is pushing to get more aid into Gaza - Middle East Eye - November 30th, 2025 [November 30th, 2025]
- Erdogan's hope: Turkey wants US to sign off on role in Gaza - The Jerusalem Post - November 30th, 2025 [November 30th, 2025]
- Pope to meet Erdogan in Turkey in first overseas trip - hpenews.com - November 30th, 2025 [November 30th, 2025]
- Erdogan accuses Israel of genocide and ceasefire violations: We will not remain silent - Telegrafi - November 30th, 2025 [November 30th, 2025]
- Pope lands in Turkey to meet Erdogan on first overseas trip - The Killeen Daily Herald - November 30th, 2025 [November 30th, 2025]
- Erdogan says Israel violating Gaza truce with repeated provocations - Dunya News - November 30th, 2025 [November 30th, 2025]
- Erdogan Says Israel Violating Gaza Ceasefire, Vows Turkey Will Intensify Support for Palestinians - Khaama Press - November 30th, 2025 [November 30th, 2025]
- Erdogan Is Pushing Turkey Into The Same Minefield As Iran - Forbes - November 23rd, 2025 [November 23rd, 2025]
- Trkiye ready to host COP31, boost Gaza reconstruction aid: Erdogan - TRT World - November 23rd, 2025 [November 23rd, 2025]
- Strong cooperation, sustainable supply chains needed to revive global trade: Erdogan - TRT World - November 23rd, 2025 [November 23rd, 2025]
- Erdogan, Zelensky hold talks in Ankara to revive diplomacy with Russia - Xinhua - November 23rd, 2025 [November 23rd, 2025]
- Erdogan calls for global economic cooperation and fair debt terms at G20 - Yeni Safak English - November 23rd, 2025 [November 23rd, 2025]
- Is Bahceli pushing Erdogan toward a faster peace process in Trkiye? - Trkiye Today - November 23rd, 2025 [November 23rd, 2025]
- Zelenskyy meets with Erdogan, will see top U.S. military officials as push for peace intensifies - Washington Times - November 23rd, 2025 [November 23rd, 2025]