Published: Tue, May 15, 2018
Worldwide | By Jermaine Blake

Germany Reacts to Ozil, Gundogan For Picture Taken With Erdogan

Germany Reacts to Ozil, Gundogan For Picture Taken With Erdogan

DFB president Reinhard Grindel said: "The DFB of course respects the special situation for our players with migrant backgrounds, but football and the DFB stands for values that Mr. Erdogan does not sufficiently respect".

Erdogan has travelled to the United Kingdom to meet with Prime Minister Theresa May before having a reception with the Queen. Erdogan, who has dominated Turkey´s political scene for the past 15 years, is seeking to reinforce his authority as Turkey moves to a new presidential system of government with expanded powers.

The concern is that he will stand in the way of the rate hikes needed to stabilize the currency against the prospect of higher USA borrowing costs. That change is due to go into effect after June polls.

One noted Erdogan's long list of enemies including US -based Islamic preacher Fethullah Gulen, whom he accuses of orchestrating a failed coup in 2016. "His view is that high rates lead to high inflation, I'm not sure I agree with that view".

"Posing in a London luxury hotel with the despotic Erdogan and courting him as "my president" while he is oppressing democrats and imprisoning critical journalists in Turkey, is a gross foul", Sevim Dagdelen of the opposition Left Party said.

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The lira is now down 14.2% against the dollar so far this year, making it only behind Argentina's peso as the worse performing currency in the emerging market space.

In an interview with Bloomberg Television broadcast on Tuesday, Erdogan said the central bank was independent but it can not ignore signals from the head of the executive once the switch to a presidential system is complete.

He also said Halkbank (HALKB.IS) executive Mehmet Hakan Atilla, who was found guilty by a US court of helping Iran evade USA sanctions, was innocent and Turkey wanted his acquittal.

"Why the hell would you come to London, and basically send this message to institutional investors which is exactly what they did not want to hear?" he added.

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