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originally posted by: TheKnightofDoom
So who are the Bad guys? I'm behind on this.
Istanbul was buzzed by military jets, there are tanks blocking bridges in the city and soldiers were walking along the city’s quays, according to Twitter reports. The iShares MSCI Turkey exchange-traded fund (TUR) was down 2.5% Friday, while emerging markets as a whole were down fractionally on the day. In after-hours trading, the fund tumbled more than 6%. The Turkish lira (TRY) weakened by 4.4% against the dollar Friday.
Turkey’s prime minister downplayed the attempt, saying “military action is being taken without a chain of command and it ‘is wrong to call events a coup,’ Sky News reported. But he acknowledge a coup attempt. As reports of the military employing martial law surfaced, Turkish President Recep Tayyip Erdogan, who is vacationing this week, used Apple (AAPL) Facetime with a Turkish television reporter to say that his supporters would take to the streets and that the military uprising was a minority and “would be resolved in a short time,” NBC reports. Istanbul is 7 hours ahead of New York; it was about 11 p.m. local time as these reports trickled out.
Capital Economics’ Neil Shearing, an emerging markets economist, declares the coup against President Erdogan’s government a success.
“A statement by PM Yildirim initially suggested that it had been undertaken by a small part of the Army, but events since suggest that the military is united. It has issued a statement saying it has seized control of the government “throughout the nation”. There has been no statement so far from President Erdogan, which itself could be evidence that the military has the upper hand … This is a NATO country and, depending on how events play out, will have implications for the war in Syria, the fight against ISIS and even the balance of power within the Middle East more generally … “
originally posted by: solidshot
Looks like the Turkish Prime Minister has just declared America an Enemy twitter.com... wonder what the response from the Kenyan will be now..
originally posted by: TheKnightofDoom
So who are the Bad guys? I'm behind on this.
Erdogan has severely curtailed freedom of speech and expression and has brought an increasingly religious bent to the Turkish government. Most of his political support is concentrated in rural, conservative, Muslim areas of the country.
originally posted by: solidshot
Looks like the Turkish Prime Minister has just declared America an Enemy twitter.com... wonder what the response from the Kenyan will be now..
originally posted by: Ohanka
Well, RIP to the officers who tried to save the Secular State established by Ataturk. Erdogan will now be able to purge the military and opposition of secularists, and then nothing will stand in his way in regards to his plans to impose Islamic law and establish an Islamic State.