The United States will take further action against Turkey if it continues to detain American pastor Andrew Brunson, Treasury Secretary Steven Mnuchin said Thursday in a sign that tensions between the North Atlantic Treaty Organisation allies will continue to escalate over the issue. "He's not a spy".
"We have more that we're planning to do if they don't release him quickly", Mnuchin said during a White House cabinet meeting on Thursday, according to pool reporters. "So, we haven't seen the last of that".
Worldwide investors have been anxious by Turkey's high levels of foreign debt and Erdogan's refusal to allow the central bank to raise interest rates to support the currency, as experts say it should.
Only one day after Qatar pledged the investment, the lira strengthened some 4 percent against the greenback to around 5.75 per dollar.
In recent days, Qatari supporters of Turkey have begun a public campaign in Doha to change their riyals into lira in an attempt to shore up the plunging Turkish currency.
The U.S. Department of the Treasury slapped sanctions on Turkey's justice and interior ministers on August 1, citing their roles in the detention of the U.S. pastor.
Whatever action the United States takes looks likely to cause more pain for Turkish assets.
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President Trump tweeted Thursday evening calling for Brunson's release, saying that the U.S.
In fact, Arriaga says all Americans can apply pressure by hitting Turkey where it hurts the most - in the pocketbook by avoiding buying Turkish goods.
He says the USA will pay nothing for his return, because he is innocent and indicated the pressure on Turkey will continue.
"The currency is now clearly undershooting fair value", the global financial industry association said in a report titled "Turkey Update - Looking for a Way Forward".
"They can't take our people", the president said, calling Brunson a "wonderful Christian pastor".
In a separate development on Friday, Mr Trump said that Turkey had "been a problem for a long time", referring to the charges against Mr Brunson as "phoney". "The serial number of the bill allegedly represented Golge's place in the hierarchy of the Gulen organization", the committee said in an August 6 letter urging U.S. Secretary of State Michael Pompeo to campaign for 36-year-old Golge's release.
The unnamed source added that they had agreed that their finance ministers - Berat Albayrak and Bruno Le Maire - would meet "as soon as possible", and that Mr Macron had told Mr Erdogan that Turkey's economic stability was "important" for France.