Erdogan goes berserk at Standard and Poor s for downgrading Turkeys credit rating - 03 May 2012

Turkey Pm Tayyip Erdogan attacks and slams Standard & Poor for warning about economic outlook and downgrading the country’s credit rating Istanbul / NationalTurk – Turkish Prime Minister Recep Tayyip Erdogan denounced S&P rating agency on Thursday, stating its downgrading of Turkey’s outlook was clouded by an ‘ideological approach.’

Tayyip Erdogan told a televised meeting in Istanbul: ‘This is entirely an ideological approach. You cannot fool anybody, you cannot fool Tayyip Erdogan.’

He condemned the outlook revision as ‘very odd’ and hit back at what he implied was discrimination by Standard and Poor, which had improved the outlook of crisis-hit neighboring Greece, while lowering the perspective for Turkey. The Turkish PM threatened not to recognize the Standard and Poor’s as a credible ratings agency

Standard and Poor’s revised the outlook on Turkey’s long-term foreign and local currency sovereign credit ratings to stable, from positive on Tuesday.

On Wednesday, the agency lifted Greece out of selective default status in view of a bond swap which cancelled a big slice of Greek debt. (...)