Turkey's Erdogan spokesman: "disinformation campaign" to blame for declines

Joshua Gibson FXStreet

Turkish President Erdogan's Communications Director, Fahrettin Altun, has taken to Twitter in the week's early hours to deliver a word of warning to markets that traders have misinterpreted Turkey's current position, claiming that a 'disinformation campaign' is being waged against Turkey.

Key quotes

"There has been a disinformation campaign underway based on the President's following remarks: "You must know that keeping this nation on its feet is not just our duty but also the duty of industrialists and merchants. Otherwise, I will be compelled to implement Plan B or Plan C".

This disinformation campaign is part of the economic war that has been waged against our country. At no point in his remarks did the President talk about a potential seizure of foreign currency deposits.

The President's remarks reflected his administration's determination to maintain the strength of Turkey's economy and served as a warning against the potential outflow of foreign currencies.

Provided that the President did not reveal the details of plans B and C, it is unacceptable that certain people come up with fictive scenarios in order to unsettle the people and market players.

Turkey is fighting an economic war. Our economy is strong and we will win this fight through the government's cooperation with the people!"

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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