Financial Times:  Recep Tayyip Erdogan has threatened to conduct an “operation” against Moody’s, less than two weeks after the ratings company placed Turkey on review for a downgrade, state-run media reported. The Turkish president was quoted by the Anadolu Agency as saying the operation would commence after elections scheduled for later this month, according to Bloomberg.

“God willing, we will conduct an operation against Moody’s after June 24. Moody’s is making unnecessary statements despite the fact that we are not a member of it. What a shame,” AA quoted Mr Erdogan as saying. Mr Erdogan’s comments came after Moody’s on June 1 placed Turkey on review for a downgrade just months after it cut the country’s rating. It also follows a decision in January by Fitch to shut its Istanbul office.

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