GERMANY TRIES TO ‘’PUNISH’’ TURKEY ECONOMICALLY




İlknur Şebnem Öztemel-TDO-23.09.2017- German government decided to limit Hermes Guarantees and credits  which was designed to compansate  exporting firms in case of a loss caused by their foreign partners, for firms that invest in Turkey as a part of sanctions against the Turkish government.

According to German News Agency (DPA), government would limit credits for 1.5 billion euros starting with 2017. At this point, it is significant to remind that the program was containing 2.1 billion euros in 2015 and 1.1. billion Euros in 2016. In the first eight months of 2017, about 680 million euros were distributed under Hermes program.

On 20th of Jully, German Foreign Minister Sigmar Gabriel, said they would rearrange their policies about Turkey and warned about probability of economic sanctions. Also, German Cahncellor Angela Merkel, told MDR that although she does not want it, economic sanctions would be deepening.

It is reported that about 6800 Germany originated cooperations and trade volume between the two country is about 37 billion euros.

In that sense, it may be beneficial to do something against German aggression towards Turkey reciprocally. In addition to German government’s endless tries to interfere in interior politics of Turkey and recent speeches of some German politicians such as ‘’ Germany is not a country that Turkey can insult’’ said by Martin Schulz, it seems to be a necessity to have a counter-action. Turkey is not a country that can steered by Germany or any German action.