DislikedTURKEY 5-YR CDS ADD 4 BPS FROM MONDAY CLOSE TO 508 BPS, HIGHEST IN OVER A YEAR also USD/TRY near 13Ignored
EU will be discussing sanctions for Turkey for the next three days. Last Friday Osman Kavala (an activist and a political figure) - who has been in jail for several years has not been released and despite European High Court decision, Erdogan administration ignored all requests.
It is likely that UK and USA will be joining the sanction spree soon. White House has stated several times that the Biden administration is deeply worried about the democratic process in Turkey hence US Congress didn't allow Turkey to purchase F35 jets altough the payment has been long made.
Erdogan administration and his politics leave Turkey all alone on the international - mainly western front. Unfortunately the situation is getting worse by the minute. Even tough Turkey can get rid of him, the damage is catastrophic - bot politically and economically. I will not be surprised if NATO kicks out one of the oldest member and second largest army out of the council next year.
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