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Turkey accuses US of 'stab in back' as currency woes persist

  • Turkey under economic siege, President Erdoğan says
    Turkish president Recep Tayyip Erdogan blames lira crash on Donald Trump 'plot' Turkey under economic siege, President Erdoğan says
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Politics
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Moves to ease Turkey's economic woes have failed to stop market turmoil as the country's row with the US deepens

Turkey's President, Recep Tayyip Erdogan, said on Monday that the US was seeking to "stab it in the back".

The US last week imposed sanctions on Turkey over its refusal to extradite a US preacher imprisoned in the country.

The sanctions caused market turmoil, which the central bank attempted - but failed - to soothe with a series of market-boosting measures.

Mr Erdogan told a news conference in the Turkish capital, Ankara: "You act on one side as a strategic partner, but on the other, you fire bullets into the foot of your strategic partner.

"We are together in Nato and then you seek to stab your strategic partner in the back."

As the crisis deepened at the end of last week, the lira and the Turkish stock market slid sharply. Mr Erdogan, who has presided over soaring inflation and borrowing levels, says the lira's fall is the result of a plot rather than prevailing economic conditions.