Turkey five year CDS jumps as Erdogan defiant

Costas Mourselas

August 13, 2018 01:45 pm

Erdogan press association PA 230x150 — (180813) -- ANKARA, Aug. 13, 2018 (Xinhua) -- Turkish President Recep Tayyip Erdogan delivers a speech during Turkish ambassadors' conference at Presidential Palace in Ankara, Turkey, on Aug. 13, 2018. Turkish President Recep Tayyip Erdogan has denounced the Lira crisis as a "plot against Turkey," warning that his country will forge new alliances and markets in response to a bitter rift with long-time ally the United States, which has caused the Turkish currency to hit record lows. (Xinhua/Turkish Presidential Palace) (lrz) | Turkish Presidential Palace/Xinhua News Agency/PA Images

The cost of insuring Turkish government debt has shot up as Turkey’s president Recep Tayyip Erdogan has refused to give way in a dispute with the United States.

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