20/07/2016 - 21:22 GMT (Update 1)
Turkey is imposing a three-month state of emergency. Following the unsuccessful coup and ongoing persecution of citizens, the state of emergency is becoming the next level of escalating the situation. Unfortunately, the combination of getting closer ties with Russia, its geographical location close to conflict areas, NATO military base with nuclear weapons and cementing the power by Erdogan seems to be a pretty dangerous cocktail to many Western politicians’ taste.
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As a follow up on unfortunate events in Turkey over the last weekend, the reaction of the market was rather muted but rating agencies have started to express their worries. For example Moody's is reviewing country's rating with possibility of a cut or even moving it to Junk territory.
Overall, it is not just what has happened but also the weakening efforts to reform the economy with upcoming challenges at political, economical as well as security level.
DISCLAIMER: This material was created for informational purposes only and represents the Land of Trading teams view on past and current economic and capital market environment. It is not and shouldn´t been viewed as an investment advice and the creator of this material shouldn´t been hold liable for any loss resulting from action where despite this disclaimer someone would consider this material as an investment advice.
DISCLAIMER: This material was created for informational purposes only and represents the Land of Trading teams view on past and current economic and capital market environment. It is not and shouldn´t been viewed as an investment advice and the creator of this material shouldn´t been hold liable for any loss resulting from action where despite this disclaimer someone would consider this material as an investment advice.
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