Turkey’s President Recep Tayyip Erdogan has launched a new attack on Greece by claiming that the country is “bankrupt” and “finished”.
Speaking at a pre-election rally, Erdogan blasted rating agencies that have downgraded Turkey’s sovereign rating, implying that their actions are of no real consequence.
“Greece had gone bankrupt, finished, yet the credit rating agencies have raised the prospects for its economy,” Erdogan said.
Turkey's #Erdogan: Our neighbour #Greece has gone bankrupt, finished, yet they [credit rating agencies] raised its rating fourfold. These [Greece] people have sunk, collapsed, are you able to save them by raising its rating? Look at their streets & see how [terrible] they are now pic.twitter.com/gLWoqFAYni
— Abdullah Bozkurt (@abdbozkurt) June 7, 2018
Moody’s announced on Wednesday that it would review a downgrade of the credit ratings of 11 Turkish companies with regard to their solvency.
Moody’s has also put Turkey’s sovereign credit rating under review.
In a written statement earlier in June, Moody’s said its “decision to place the current [Ba2] rating under review reflects mounting uncertainty regarding the future direction of [Turkey’s] macroeconomic policy”.