president airtel on try to reassure a nervous public saying his government had the situation under control he promised turkey would ward off what he called an attack from abroad and called for a new national struggle. going on if anyone has dollars euros or gold under their pillows they should go exchange it for turkish lira is it our banks this is a national domestic battle this will be my people's response to those who have waged an economic war against us. president trying to impose sanctions on turkey because of its refusal to allow an american pastor andrew brunson to return to the u.s. try and strengthen the sanctions in a twitter announcement which adds insult to injury in turkey's growing economic crisis. turkey accuses brunson of espionage and terrorist activity despite sustained economic growth the lira has lost more than a third of its value the turkish population is bearing the brunt. of course we're frayed our income has less words and prices are rising for food too that's worrying . the turkish finance minister promised state influence on the central bank would be diminished

falling further that means raising interest rates is there any reason tonight to believe that president airtel one will finally a well bred to happen. well i think that's what in the international investors are all around the world will be now looking on the central bank because that is all that they can do now to stem the collapse in the current sea and international investors are talking about a major hike a minimum of five hundred basis points possibly even a thousand to stop the run on the currency because there has been a collapse in confidence over the way turkish economy and the currency is being managed but there is little indication that the central banks will do this because the turkish president has made it perfectly clear he is opposed to interest rate hikes in fact at the weekend he reiterated his opposition to scribing interest rates as a tool of oppression so there is little indication the central bank will go against the president and then till the central bank establishes its independence there was little hope that the full on the currency will stop and in fact the sentiment h

that the international monetary fund may have to offer some sort of a bailout do we even know would airtel one i mean would even take it i mean he probably would have a choice but he's not even entertaining that idea right now we see no big and big oh he says he's not going to take any money it would be a huge blow to his ego is to add on already said taking money from the international monetary fund would be giving up the control of the country and he doesn't intend to do that i mean we do know that accepting financial aid from the i.m.f. does come with a price greece has been paying the price for numerous years austerity measures. structural reforms to the economy that's something that. could have been doing for years but he hasn't done and. we saw him for. we sold today as well stock markets around the world taking a hit because of what's happening in turkey but the real losses were in the stock markets of emerging economies and i'm thinking about brazil south africa is that where the real contagion danger is turkey as you said was seen as one of the shining examples of an emerging econ

system is under attack the central bank is promising to do all it can destabilize the lira but will airtel one stand in the way and world in.