Statist destruction continues: Turkish lira suffers as arrogant Erdogan blocks access to Twitter

The Turkish lira weakened following Prime Minister Recep Tayyip Erdogan’s decision to block access to Twitter nine days before local elections.

The currency dropped by as much as 0.7 percent before trading 0.4 percent weaker at 2.2387 per dollar during morning trading in Istanbul.

Yields on two-year notes rose nine basis points to 11.50 percent in their third day of increases, approaching the highest level since July 2009. The Borsa Istanbul 100 Index dropped 0.9 percent.

Twitter access was blocked after Erdogan said the microblogging service ignored court orders to remove content related to a government corruption scandal.

Erdogan said at a party rally Thursday that he would “dig up Twitter and so on – all of them [social media websites] – from the roots.” Last week he also said Turkey might block access to Facebook and Google Inc.’s YouTube.

http://www.dailystar.com.lb/Business/Middle-East/2014/Mar-22/251014-turkish-lira-suffers-as-erdogan-blocks-access-to-twitter.ashx

Statist destruction continues: Turkish lira suffers as arrogant Erdogan blocks access to Twitter

Statist destruction continues: Turkish lira suffers as arrogant Erdogan blocks access to Twitter

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