Skip to content
Subscriber Only

Nothing Like a Threat of Treason to Make Turkish Banks Cut Rates

  • Prime minister renewed warning after ‘treason’ threat
  • Erdogan seen trying to jump-start slowing growth by fiat
Updated on

For months, President Recep Tayyip Erdogan has been leaning on Turkey’s banks to give the economy a boost with easier credit. In August, he warned that failure to comply could amount to “treason.’’

Two weeks ago, Prime Minister Binali Yildirim joined the push, telling lenders, “You either do this on your own or we make you do it.’’