FAST FIVE: Angry Erdogan Defies Trump: May Accelerate S-400 Delivery, Slams Western Meddling In Turkish Economy

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“The S-400 is a defensive system and has a long range.

Erdogan dismissed the US argument and said Turkish military experts were good at deciding what to purchase.

As Bloomberg notes, a bipartisan group of eight senior US House members introduced a resolution on Wednesday calling on Turkey to cancel the planned S-400 acquisition.

And speaking of the rerun of the Istanbul local elections, which Erdogan's party lost at the end of March in a historic rebuke of the AKP party, and which investors have focused their attention on a sign of how far Erdogan is willing to go to preserve power, Reuters reported that on Saturday Erdogan also said the West was putting pressure on the Turkish lira, inflation and interest rates, but that these “games” would be thwarted after a re-run of Istanbul's mayoral election in June.

It is not quite clear how it is “the West's” fault that the country's FX reserves have collapsed in recent months prompting fears Turkey will be unable to fund the $82 billion in FX-denominated maturing debt in 2019.

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