Turkey: Rumors of capital controls and early elections

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The possibility of imposing capital controls was raised by the Central Bank of Turkey in a meeting under the chairmanship of Tayyip Erdogan with the participation of the Minister of Finance.

Scenarios for enforcement capital controls in Turkey and for early recourse to the pollsshow Turkish media.

As broadcast by SKAI correspondent in Turkey Manolis Kostidisthis report speaks of calling early elections in Julyalthough the polls are not in favor of President Tayyip Erdoganas things for the Turkish economy will deteriorate dramatically during the winter.

The same source states that the possibility of imposing on the “table” of the Turkish government capital controls so that citizens not be able to hold foreign exchange in banks. It is worth noting that 65% of bank deposits are in foreign currencyie in euros or dollars due to lack of confidence.

The possibility of imposing capital controls was raised by the Central Bank of Turkey in a meeting under the chairmanship of Tayyip Erdogan with the participation of the Minister of Finance.

The banker reportedly said that things would not go well unless escalating capital controls were implemented with the finance minister asking for things to remain as they are for the time being and possibly taking some milder measures.

Source: skai.gr

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