Turkish Lira Tumbles After Diplomatic Spat with USA
With tensions between Turkey and the US escalating dramatically and unexpectedly in the past few days, when first Turkish police on Wednesday arrested a local employee of the US embassy in Istanbul and charged him with espionage and an attempt to overthrow the government, which was following on Sunday afternoon by the US embassy in Turkey announcing that “effective immediately” it has
“suspended all non-immigrant visa services at all U.S. diplomatic facilities in Turkey”…
I have written about Turkey several times in the past couple of years.
Some posts include:
Geopolitical Forecasting Through Technical Analysis: Is Turkey About to Destabilize the Middle East?
2016 Forecast: Turkey Collapses
Turkey Edges Closer to Chaos
Erdoganomics Will Run Turkey Now
2017 Will Be Worse for Turkey
I predicted conflict with the United States and Europe, and that is what has unfolded. Before this spat with the U.S., Germany pulled out of Turkey in June.
Back in March, it was a diplomatic spat over domestic European politics.
Turkey is on a path to leaving NATO and being shut out of Europe. The H&S pattern is about to breakdown.