EU countries urged not to offer Turkey financial help

EU countries should not offer Turkey financial help, the commissioner in charge of enlargement issues suggested in a newspaper interview on Wednesday, two days ahead of a visit by President Recep Tayyip Erdogan to Germany.

According to Commissioner Johannes Hahn, the situation cannot be solved by the EU or individual member states handing out aid packages or credit to Ankara.

“It is not necessary for us to jump in at this point.

“The fundamental economic problems facing Turkey were created domestically,’’ Hahn added.

The Turkish lira has lost over 40 per cent of its value against the U.S. dollar since the start of the year, amid a spat with the U.S. centred around the detention in Turkey of a U.S. pastor.

The slide in the lira is worsening the plight of an economy already facing structural problems such as high inflation and an account deficit.

Financial and business ties with Germany are expected to be high on the agenda of Erdogan’s visit, which begins on Friday.