Erdogan Lashing Out Leaves Little Room to End Turkey’s Crisis Quickly
- No surrender on interest rates as long as I’m alive, he says
- Turkish market plunge has started to stoke fears of contagion
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Investors hoping for signs of a resolution to Turkey’s market rout and tensions with the U.S. got little to be optimistic about in speeches Sunday by President Recep Tayyip Erdogan.
In three public addresses, Erdogan lashed out at the United States, threatening to find new alliances and new markets. He also took higher interest rates off the table and said Turkey wouldn’t accept an international bailout. His message was essentially the opposite of what investors have called for to stem the plunge in the markets.