Biden actually called Erdogan about the US' recognition of the Armenian genocide. The Lira lost 1-8 % vs the dollar: https://www.zerohedge.com/geopoliti...menian-genocide-recognition-friday-phone-call I think this has more to do with the US' policy vs Turkey recently. Biden is continuing Trump's legacy. Expect Erdogan to go wild.
The Biden Administration's new stance has almost no effect. The Turkish Lira has been continually depreciating since Erdogan's self-coup (as known as autogolbe) back in 2016. Erdogan's decidedly non-secular approach of government, best characterized as hyper-nationalism with deep Islamist overtones, has led to brain drain and capital flight. BBC: "Turkish lira falls 15% after bank governor sacked" https://www.bbc.com/news/business-56479702 DW:"Why the Turkish lira is in free fall" https://www.dw.com/en/erdogans-credit-binge-fuels-lira-depreciation/a-54524078 CNBC:"Turkey’s lira plunges after Erdogan sacks third central bank chief in two years" https://www.cnbc.com/2021/03/22/turkeys-lira-plunges-after-erdogan-sacks-central-bank-chief.html
^ Nevertheless, the US is "playing games" with Turkey. Infantile power games. No, this is not about the Armenians, it's about the US' games, just like they do with Russia, China, Iran and now with Turkey. The US has lost tremendous ground in the Eastern Mediterranean to Turkey. Now Biden is barking back, while according to some, the regional power games are shifting towards a Russia vs Turkey scenario. Either way, this entire thing is disgusting.
