With Stakes Rising, Merkel Enters the Fray to Calm Turkey Turmoil

  • After phone call with Erdogan, finance ministers plan to meet
  • German chancellor holds key to Turkey’s ties with Europe
Bloomberg’s Tony Czuczka reports on Merkel’s olive branch to Erdogan.(Source: Bloomberg)
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Angela Merkel is reminding Turkish President Recep Tayyip Erdogan that he has a potential ally in Berlin, offering Germany’s credibility to avert a spillover of economic turmoil.

As Erdogan seeks to shield Turkey’s economy from a feud with President Donald Trump, he and the German chancellor spoke by phone on Wednesday to arrange a meeting of both countries’ finance ministers. While Berlin isn’t offering any aid, the conversation reflects the stakes on both sides and Germany’s sway as the biggest economy in Europe.