After Turkey's President Erdogan threatened to expel ambassadors from ten countries, Germany expressed concern while adding that there had not received any notification from the government.

Erdogan had said his government would expel ambassadors belonging to NATO allies including the United States as they demanded the release of philanthropist Osman Kavala.&nbsp;Kavala has reportedly been in jail since 2017 without conviction.

<a href="https://www.wionews.com/world/indecency-turkeys-erdogan-orders-expulsion-of-10-ambassadors-423377">Also Read:&nbsp;'Indecency': Turkey's Erdogan orders expulsion of 10 ambassadors</a>

Erdogan in a speech said he would declare the ambassadors "persona non grata" while informing that he has asked the country's foreign minister to go ahead with the order.

The US hasn't formally reacted to Erdogan's order as Norway said it hadn't received the order. Last week the FATF had put Turkey on the "grey list" of countries for money laundering and terrorist financing attracting the government's ire.

<a href="https://www.wionews.com/world/turkey-may-buy-russian-jets-if-us-f-16-deal-fails-report-421864">Also Read:&nbsp;Turkey may buy Russian jets if US F-16 deal fails</a>

On Monday, the Turkish Lira which has already hit record lows against the dollar dived further. The FATF directive has already put pressure on Turkey's ability to attract foreign investment even as it struggles amid high inflation.

Watch:&nbsp;

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/turkey-philanthropist-osman-kavala-jailed-in-jail-for-4-years-423481/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

Last week Germany, France, US, New Zealand, Norway, Sweden, Canada, &nbsp;Finland, Denmark and the Netherlands had demanded Kavala to be freed stating that the incident "cast a shadow" over the country's democracy.

&nbsp;

<a href="https://www.wionews.com/world/fatf-puts-turkey-on-grey-list-pakistan-to-remain-on-grey-list-422766">Also Read:&nbsp;FATF puts Turkey on 'grey list'; Pakistan to remain on 'grey list'</a>

Although Erdogan said he had decided to expel the ambassadors but there has been no official notification so far.

(With inputs from Agencies)

After Turkey's President Erdogan threatened to expel ambassadors from ten countries, Germany expressed concern while adding that there had not received any notification from the government.

After Turkey's President Erdogan threatened to expel ambassadors from ten countries, Germany expressed concern while adding that there had not received any notification from the government. Erdogan had said his government would expel ambassadors belonging to NATO allies including the United States as they demanded the release of philanthropist Osman Kavala. Kavala has reportedly been in jail since 2017 without conviction. Also Read: 'Indecency': Turkey's Erdogan orders expulsion of 10 ambassadors Erdogan in a speech said he would declare the ambassadors "persona non grata" while informing that he has asked the country's foreign minister to go ahead with the order. The US hasn't formally reacted to Erdogan's order as Norway said it hadn't received the order. Last week the FATF had put Turkey on the "grey list" of countries for money laundering and terrorist financing attracting the government's ire. Also Read: Turkey may buy Russian jets if US F-16 deal fails On Monday, the Turkish Lira which has already hit record lows against the dollar dived further. The FATF directive has already put pressure on Turkey's ability to attract foreign investment even as it struggles amid high inflation. Watch: Last week Germany, France, US, New Zealand, Norway, Sweden, Canada, Finland, Denmark and the Netherlands had demanded Kavala to be freed stating that the incident "cast a shadow" over the country's democracy. Also Read: FATF puts Turkey on 'grey list'; Pakistan to remain on 'grey list' Although Erdogan said he had decided to expel the ambassadors but there has been no official notification so far. (With inputs from Agencies)

Germany 'concerned' after Erdogan threatens to expel foreign envoys

Opposition parties in Turkey have slammed President Recep Erdogan's ''wayward economic policies'' due to which the country is paying ''a steep price.''

Erdogan dismissed Naci Agbal on Saturday, two days after the governor raised rates to curb inflation. Erdogan then appointed a critic of tight policy who is expected to reverse recent rate hikes, fuelling fears of political meddling in monetary policy.

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-erdogan-sacks-his-third-central-bank-chief-in-two-years-372415/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

The Turkish lira and stocks plunged Monday as officials tried to stem the carnage caused by President Recep Tayyip Erdogan's abrupt dismissal of his reformist central bank chief.

The lira lost nearly 15 percent against the dollar on the first day of trading after Erdogan replaced market-friendly economist Naci Agbal with former ruling party lawmaker Sahap Kavcioglu at the crucial post.

Kavcioglu, who shares the president's unorthodox view that high-interest rates cause inflation, is Turkey's third central bank chief since mid-2019.

"Turkey is paying the price for Mr Erdogan's thoughtless and reckless decisions with high-interest rates, unemployment and high inflation," Iyi Party chairwoman Meral Aksener told her party's lawmakers in a speech in parliament.

Erdogan recently announced an economic reform package but Aksener said it lacked credibility. She said Turkey's economic woes - with inflation above 15%, high unemployment and a gaping current account deficit - left no alternative to high rates.

"High-interest rates have become necessary. High-interest rates are a fever medicine, not a permanent cure. As the treatment is delayed, it is inevitable for the patient to die," said Aksener, head of the fifth largest party in parliament.

'Unprecedented incompetence'

Faik Oztrak, deputy head of the main opposition Republican People's Party (CHP), slammed what he called the AKP's "ideological blindness".

"It is truly unprecedented incompetence to cause the Turkish lira to lose more than 10 per cent&nbsp;in a single day two days after interest rates were raised," he told a Monday news conference.

Erdogan has not commented on the move but a deputy head of the AKP, Nurettin Canikli, said Agbal had been dismissed because he did not use monetary policy instruments rationally.

Aksener said her party supported Agbal prioritising price stability and faulted Erdogan's economic management, under a presidential system that&nbsp;came into force after a 2018 election.

"Turkey has no macroeconomic problems. Turkey has macro-Erdoganic problems... What is the solution? To immediately get rid of this failed system and return to a parliamentary democracy," she said.

Opposition parties in Turkey have slammed President Recep Erdogan's ''wayward economic policies'' due to which the country is paying ''a steep price.'' Erdogan dismissed Naci Agbal on Saturday, two days after the governor raised rates to curb inflation.

Opposition parties in Turkey have slammed President Recep Erdogan's ''wayward economic policies'' due to which the country is paying ''a steep price.'' Erdogan dismissed Naci Agbal on Saturday, two days after the governor raised rates to curb inflation. Erdogan then appointed a critic of tight policy who is expected to reverse recent rate hikes, fuelling fears of political meddling in monetary policy. The Turkish lira and stocks plunged Monday as officials tried to stem the carnage caused by President Recep Tayyip Erdogan's abrupt dismissal of his reformist central bank chief. The lira lost nearly 15 percent against the dollar on the first day of trading after Erdogan replaced market-friendly economist Naci Agbal with former ruling party lawmaker Sahap Kavcioglu at the crucial post. Kavcioglu, who shares the president's unorthodox view that high-interest rates cause inflation, is Turkey's third central bank chief since mid-2019. "Turkey is paying the price for Mr Erdogan's thoughtless and reckless decisions with high-interest rates, unemployment and high inflation," Iyi Party chairwoman Meral Aksener told her party's lawmakers in a speech in parliament. Erdogan recently announced an economic reform package but Aksener said it lacked credibility. She said Turkey's economic woes - with inflation above 15%, high unemployment and a gaping current account deficit - left no alternative to high rates. "High-interest rates have become necessary. High-interest rates are a fever medicine, not a permanent cure. As the treatment is delayed, it is inevitable for the patient to die," said Aksener, head of the fifth largest party in parliament. 'Unprecedented incompetence' Faik Oztrak, deputy head of the main opposition Republican People's Party (CHP), slammed what he called the AKP's "ideological blindness". "It is truly unprecedented incompetence to cause the Turkish lira to lose more than 10 per cent in a single day two days after interest rates were raised," he told a Monday news conference. Erdogan has not commented on the move but a deputy head of the AKP, Nurettin Canikli, said Agbal had been dismissed because he did not use monetary policy instruments rationally. Aksener said her party supported Agbal prioritising price stability and faulted Erdogan's economic management, under a presidential system that came into force after a 2018 election. "Turkey has no macroeconomic problems. Turkey has macro-Erdoganic problems... What is the solution? To immediately get rid of this failed system and return to a parliamentary democracy," she said.

Opposition parties say Turkey paying steep price for Erdogan's 'wayward' policies

The Turkish lira stood at 8.0990 per dollar in Asia, down 11 per cent from its close on Friday. At one point the lira fell by as much as 14.9 per cent to 8.4850

Turkish lira hit by sacking of central bank chief