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Turkey, Boris Johnson, Jeffrey Epstein: Your Tuesday Briefing | |
(about 2 hours later) | |
(Want to get this briefing by email? Here’s the sign-up.) | |
Good morning. | Good morning. |
We’re covering the Turkish economic crisis, Greece’s understated new leader and a very British debate over whether milk goes before tea. | We’re covering the Turkish economic crisis, Greece’s understated new leader and a very British debate over whether milk goes before tea. |
The Turkish lira dipped further on Monday, after President Recep Tayyip Erdogan’s abrupt firing of the chief of the country’s central bank. | The Turkish lira dipped further on Monday, after President Recep Tayyip Erdogan’s abrupt firing of the chief of the country’s central bank. |
Inflation and joblessness are alarmingly high, and growth has been minimal. Political uncertainty is spreading. | Inflation and joblessness are alarmingly high, and growth has been minimal. Political uncertainty is spreading. |
As Turkey muddles through a grinding economic crisis, the unshakable Mr. Erdogan now appears to be confronting a force he can’t command: international markets. | As Turkey muddles through a grinding economic crisis, the unshakable Mr. Erdogan now appears to be confronting a force he can’t command: international markets. |
Global impact: The biggest immediate threat to Turkey’s economy is loans in foreign currencies. Turkey’s medium- and long-term foreign currency debts exceeded $328 billion at the end of 2018, according to official data. | Global impact: The biggest immediate threat to Turkey’s economy is loans in foreign currencies. Turkey’s medium- and long-term foreign currency debts exceeded $328 billion at the end of 2018, according to official data. |
Analysis: The firing was, for investors, a signal that Mr. Erdogan would recklessly lower interest rates while pumping credit to businesses and households. That approach may spur short-term spending and growth but risks a full-blown crisis in the future. | Analysis: The firing was, for investors, a signal that Mr. Erdogan would recklessly lower interest rates while pumping credit to businesses and households. That approach may spur short-term spending and growth but risks a full-blown crisis in the future. |
President Trump said the White House would no longer deal with the British ambassador to the U.S., Kim Darroch, after the publication of confidential cables in which he disparaged Mr. Trump’s administration as “clumsy and inept.” | President Trump said the White House would no longer deal with the British ambassador to the U.S., Kim Darroch, after the publication of confidential cables in which he disparaged Mr. Trump’s administration as “clumsy and inept.” |
Mr. Trump broadened his criticism to include Prime Minister Theresa May, whom he accused of botching Britain’s negotiations to leave the European Union. | Mr. Trump broadened his criticism to include Prime Minister Theresa May, whom he accused of botching Britain’s negotiations to leave the European Union. |
“What a mess she and her representatives have created,” Mr. Trump said on Twitter. “I told her how it should be done, but she decided to go another way.” | “What a mess she and her representatives have created,” Mr. Trump said on Twitter. “I told her how it should be done, but she decided to go another way.” |
Details: Mr. Trump’s rebuke of Mr. Darroch came close to declaring him persona non grata — an extraordinary breach between the U.S. and one of its closest allies. | Details: Mr. Trump’s rebuke of Mr. Darroch came close to declaring him persona non grata — an extraordinary breach between the U.S. and one of its closest allies. |
Damage control: Britain’s trade minister, Liam Fox, said he planned to apologize to Mr. Trump’s eldest daughter, Ivanka Trump, about the leaked cables at a meeting this week during his visit to Washington. | Damage control: Britain’s trade minister, Liam Fox, said he planned to apologize to Mr. Trump’s eldest daughter, Ivanka Trump, about the leaked cables at a meeting this week during his visit to Washington. |
Mr. Hunt, the foreign secretary, and Mr. Johnson, the former foreign secretary and mayor of London, are opposites. | Mr. Hunt, the foreign secretary, and Mr. Johnson, the former foreign secretary and mayor of London, are opposites. |
As the two men vie for the votes of about 160,000 Conservative Party members, who will choose a new leader next month, their differences in temperament and how they approach Brexit are increasingly striking. | As the two men vie for the votes of about 160,000 Conservative Party members, who will choose a new leader next month, their differences in temperament and how they approach Brexit are increasingly striking. |
Key differences: Mr. Johnson, who recently said he could beat Mr. Hunt in a naked mud-wrestling contest, is bombastic, charismatic and more theatrical than the reasonable and cautious Mr. Hunt, who might have won support in a different time. | Key differences: Mr. Johnson, who recently said he could beat Mr. Hunt in a naked mud-wrestling contest, is bombastic, charismatic and more theatrical than the reasonable and cautious Mr. Hunt, who might have won support in a different time. |
Mr. Johnson has vowed that Brexit will take place with or without a deal on Oct. 31. Mr. Hunt, who was once a Remainer, recently said he would decide at the end of September whether Brexit talks were going anywhere. Some critics doubt his commitment to a Brexit at all costs; others compare him to Mrs. May. | Mr. Johnson has vowed that Brexit will take place with or without a deal on Oct. 31. Mr. Hunt, who was once a Remainer, recently said he would decide at the end of September whether Brexit talks were going anywhere. Some critics doubt his commitment to a Brexit at all costs; others compare him to Mrs. May. |
According to opinion surveys, Tory members are drawn to Mr. Johnson. | According to opinion surveys, Tory members are drawn to Mr. Johnson. |
Quotable: A reporter for The Guardian wrote that, performing for pro-Brexit party members alongside Mr. Johnson, Mr. Hunt resembled “an earnest parent at a children’s party handing out carrot sticks when all eyes are on the chocolate cake.” | Quotable: A reporter for The Guardian wrote that, performing for pro-Brexit party members alongside Mr. Johnson, Mr. Hunt resembled “an earnest parent at a children’s party handing out carrot sticks when all eyes are on the chocolate cake.” |
Kyriakos Mitsotakis, the leader of the New Democracy party, has been underestimated by many in Greece. But his ascent to become the country’s prime minister is testament to the radical shifts that Greece’s political system has undergone amid a decade of financial hardship. | Kyriakos Mitsotakis, the leader of the New Democracy party, has been underestimated by many in Greece. But his ascent to become the country’s prime minister is testament to the radical shifts that Greece’s political system has undergone amid a decade of financial hardship. |
Challenges ahead: He still needs to win over those who believe he lacks the competence to deal with the complexities of Greece’s huge economic and social challenges. | Challenges ahead: He still needs to win over those who believe he lacks the competence to deal with the complexities of Greece’s huge economic and social challenges. |
Go deeper: His father is former Prime Minister Konstantinos Mitsotakis. The younger Mr. Mitsotakis went to Harvard and Stanford. On the campaign trail, he seemed to perform better in intimate discussions with voters than in speeches to large crowds, where he was gentle and understated. He has voted in favor of L.G.B.T. rights and a less stringent approach on migration. | Go deeper: His father is former Prime Minister Konstantinos Mitsotakis. The younger Mr. Mitsotakis went to Harvard and Stanford. On the campaign trail, he seemed to perform better in intimate discussions with voters than in speeches to large crowds, where he was gentle and understated. He has voted in favor of L.G.B.T. rights and a less stringent approach on migration. |
Thomas Jefferson hailed him as the “purest son of liberty I have ever known.” New York named a bridge after him. Poland reveres him as the leader of a revolt in the late 18th century. | Thomas Jefferson hailed him as the “purest son of liberty I have ever known.” New York named a bridge after him. Poland reveres him as the leader of a revolt in the late 18th century. |
And now, Andrej Tadeusz Kosciuszko, a lifelong foe of autocracy, is finally getting his due at home in Belarus, where a state-run memorial commemorates him in his hometown. The country for decades showed no interest in celebrating Kosciuszko. | And now, Andrej Tadeusz Kosciuszko, a lifelong foe of autocracy, is finally getting his due at home in Belarus, where a state-run memorial commemorates him in his hometown. The country for decades showed no interest in celebrating Kosciuszko. |
Jeffrey Epstein: Federal prosecutors on Monday accused the wealthy Manhattan financier of exploiting minors for sex from 2002 to 2005 and are seeking to detain him without bail, saying he is a flight risk. Mr. Epstein is said to have lured girls as young as 14 to engage in sex acts. | Jeffrey Epstein: Federal prosecutors on Monday accused the wealthy Manhattan financier of exploiting minors for sex from 2002 to 2005 and are seeking to detain him without bail, saying he is a flight risk. Mr. Epstein is said to have lured girls as young as 14 to engage in sex acts. |
Hong Kong: A contentious bill that would have allowed extradition to mainland China is dead, the territory’s leader said. Protesters doubted the government’s sincerity, saying the bill should be fully withdrawn rather than declared dead. | Hong Kong: A contentious bill that would have allowed extradition to mainland China is dead, the territory’s leader said. Protesters doubted the government’s sincerity, saying the bill should be fully withdrawn rather than declared dead. |
British Airways: The airline faces a fine of nearly $230 million for a data breach last summer, the largest penalty for privacy lapses under a new European data protection law. Hackers stole the personal data of about 500,000 users visiting the airline’s website, according to the British authorities. | British Airways: The airline faces a fine of nearly $230 million for a data breach last summer, the largest penalty for privacy lapses under a new European data protection law. Hackers stole the personal data of about 500,000 users visiting the airline’s website, according to the British authorities. |
Deutsche Bank: The German bank started laying off thousands of employees in an effort to turn around years of losses, decline and scandal. Most of the job losses are expected to be concentrated in New York, London and Singapore. The company plans to entirely eliminate its equity sales and trading division. | Deutsche Bank: The German bank started laying off thousands of employees in an effort to turn around years of losses, decline and scandal. Most of the job losses are expected to be concentrated in New York, London and Singapore. The company plans to entirely eliminate its equity sales and trading division. |
Wimbledon: Coco Gauff, a 15-year-old American wild card, lost her fourth-round match to Romania’s Simona Halep, ending a crowd-pleasing string of upset victories. | Wimbledon: Coco Gauff, a 15-year-old American wild card, lost her fourth-round match to Romania’s Simona Halep, ending a crowd-pleasing string of upset victories. |
Snapshot: Above, Augsburg, Germany, whose constantly evolving 800-year-old water management system was named a Unesco World Heritage site, along with 28 other sites this year. | Snapshot: Above, Augsburg, Germany, whose constantly evolving 800-year-old water management system was named a Unesco World Heritage site, along with 28 other sites this year. |
Milan rising: From Opinion, Italy’s fashion hub and economic powerhouse is thriving. Could it be because Milan is more enthusiastic than Rome about working through political gridlock? | Milan rising: From Opinion, Italy’s fashion hub and economic powerhouse is thriving. Could it be because Milan is more enthusiastic than Rome about working through political gridlock? |
Tea brouhaha: A days-long exchange of letters in The Times of London focused on a pressing national dilemma among Britons: Does the tea or the milk go into the teacup first? | Tea brouhaha: A days-long exchange of letters in The Times of London focused on a pressing national dilemma among Britons: Does the tea or the milk go into the teacup first? |
What we’re reading: This piece from The Verge. Michael Roston, a science editor, writes: “Nothing on the internet is ever really new. Bijan Stephen looks to Something Awful, a longtime online community, and considers how its founder long ago dealt with content-moderation issues, like those now facing YouTube and Facebook.” | What we’re reading: This piece from The Verge. Michael Roston, a science editor, writes: “Nothing on the internet is ever really new. Bijan Stephen looks to Something Awful, a longtime online community, and considers how its founder long ago dealt with content-moderation issues, like those now facing YouTube and Facebook.” |
Cook: One-pot spaghetti with cherry tomatoes and kale is here to save you from washing too many dishes. (Our Five Weeknight Dishes newsletter has more recommendations.) | Cook: One-pot spaghetti with cherry tomatoes and kale is here to save you from washing too many dishes. (Our Five Weeknight Dishes newsletter has more recommendations.) |
Watch: Our critic called “The Rook,” a new paranormal adventure series from Starz, polished and well thought out. | Watch: Our critic called “The Rook,” a new paranormal adventure series from Starz, polished and well thought out. |
Listen: Ed Sheeran’s “Best Part of Me” is a folky testimonial to insecurities — physical and psychological — with acoustic guitar, piano and hesitant vocal harmonies. | Listen: Ed Sheeran’s “Best Part of Me” is a folky testimonial to insecurities — physical and psychological — with acoustic guitar, piano and hesitant vocal harmonies. |
Go: In his latest work, “Eight,” the composer Michel van der Aa has fully integrated emerging technology with musical and theatrical ideas. It’s on view at the Aix Festival in France. | Go: In his latest work, “Eight,” the composer Michel van der Aa has fully integrated emerging technology with musical and theatrical ideas. It’s on view at the Aix Festival in France. |
Smarter Living: Jessica Grose, the lead editor of our Parenting site, is not a huge fan of the beach, but because she is “not totally evil,” she’s taking her children to the ocean anyway. Working with The Wirecutter, she recommends the gear to survive a day in the sun with children, including sunscreen that’s not greasy or goopy, rash guards and cover-ups. To get rid of sand afterward, give them a big soft-bristled paintbrush to clean themselves up. | Smarter Living: Jessica Grose, the lead editor of our Parenting site, is not a huge fan of the beach, but because she is “not totally evil,” she’s taking her children to the ocean anyway. Working with The Wirecutter, she recommends the gear to survive a day in the sun with children, including sunscreen that’s not greasy or goopy, rash guards and cover-ups. To get rid of sand afterward, give them a big soft-bristled paintbrush to clean themselves up. |
Also: Do you need a coach to help raise children without screens? (Pro tip: Get a dog.) | Also: Do you need a coach to help raise children without screens? (Pro tip: Get a dog.) |
President Trump welcomes the leader of Qatar to the White House today, with plenty to discuss, including U.S. access to a pivotal air base and Qatar’s warm relations with Iran. | President Trump welcomes the leader of Qatar to the White House today, with plenty to discuss, including U.S. access to a pivotal air base and Qatar’s warm relations with Iran. |
Qatar also has access to huge natural gas reserves. That wasn’t always a good thing: Natural gas, typically mostly methane, was long seen as an expensive nuisance to oil drillers, and Qatar’s massive field was initially a huge disappointment. | Qatar also has access to huge natural gas reserves. That wasn’t always a good thing: Natural gas, typically mostly methane, was long seen as an expensive nuisance to oil drillers, and Qatar’s massive field was initially a huge disappointment. |
The fortunes of Qatar improved sharply thanks to technology that liquefies natural gas, shrinking its volume, so specially outfitted freighters can make cost-effective deliveries across great distances. | The fortunes of Qatar improved sharply thanks to technology that liquefies natural gas, shrinking its volume, so specially outfitted freighters can make cost-effective deliveries across great distances. |
Qatar now exports more liquefied natural gas than any other country, and a boom in global demand has made it very, very rich. | Qatar now exports more liquefied natural gas than any other country, and a boom in global demand has made it very, very rich. |
The U.S., Australia and Russia are also major suppliers, but natural gas is not necessarily a ticket to wealth: Uneven distribution in the United States — along with growing environmental opposition — has led to price increases in some regions and negative prices in others. | The U.S., Australia and Russia are also major suppliers, but natural gas is not necessarily a ticket to wealth: Uneven distribution in the United States — along with growing environmental opposition — has led to price increases in some regions and negative prices in others. |
That’s it for this briefing. See you next time. | That’s it for this briefing. See you next time. |
— Melina | — Melina |
Thank youTo Mark Josephson and Eleanor Stanford for the break from the news. Jake Lucas wrote today’s Back Story. You can reach the team at briefing@nytimes.com. | Thank youTo Mark Josephson and Eleanor Stanford for the break from the news. Jake Lucas wrote today’s Back Story. You can reach the team at briefing@nytimes.com. |
P.S.• We’re listening to “The Daily.” Our latest episode is on the trial of a Navy SEAL. • Here’s today’s Mini Crossword puzzle, and a clue: Talk and talk and talk and talk (3 letters). You can find all our puzzles here. • The New York Times has named a new Moscow bureau chief: Andrew Higgins, a two-time Pulitzer Prize winner who is fluent in Russian, Mandarin and French. | P.S.• We’re listening to “The Daily.” Our latest episode is on the trial of a Navy SEAL. • Here’s today’s Mini Crossword puzzle, and a clue: Talk and talk and talk and talk (3 letters). You can find all our puzzles here. • The New York Times has named a new Moscow bureau chief: Andrew Higgins, a two-time Pulitzer Prize winner who is fluent in Russian, Mandarin and French. |
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