{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Analyst plays down risk to Turkish economy' data-url='/boclips/videos/5c54cae9d8eafeecae19fcf4' data-video-url='/boclips/videos/5c54cae9d8eafeecae19fcf4' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nAnalyst plays down risk to Turkish economy\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eRESTRICTION SUMMARY: AP CLIENTS ONLYSHOTLIST:AP TELEVISION - AP CLIENTS ONLYIstanbul - 20 July 20161. Various exteriors currency exchange office2. Man withdrawing money3. Exterior currency exchange office4. People walking down central...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eRESTRICTION SUMMARY: AP CLIENTS ONLYSHOTLIST:AP TELEVISION - AP CLIENTS ONLYIstanbul - 20 July 20161. Various exteriors currency exchange office2. Man withdrawing money3. Exterior currency exchange office4. People walking down central street5. Various of people at ATMsIstanbul - 21 July 20166. Various of Selva Demiralp, professor of macroeconomics at Koc University at her desk7. SOUNDBITE (English) Selva Demiralp, Associate Professor of Economics, Koc University:\"So there will short-term and long-term impact, I think, and the short-term volatility that we observe is only natural, given the scale of the events that happened last Friday, that investors are spooked. But that's short-term and we have to keep in mind that that's going to be the case. In the long-term what's important is whether Turkey will be able to re-establish the principles of democracy and the rule of law, and so long as that's the case, and these are the messages sent by deputy prime minister Mehmet Simsek and the central bank governor Murat Cetinkaya, so long as that's the case then there should not be any long term impact of these events.\"8. Cutaway of hands9. Cutaway of books10. SOUNDBITE (English) Selva Demiralp, Associate Professor of Economics, Koc University:\"Turkey does have a current account deficit and investor sentiment is important but if you think about it, this horrible event took place at a lucky time when global liquidity is abundant. Like today there is the ECB decision, they're going to continue with their quantitative easing. Bank of Japan likewise. So when there is so much liquidity in the system there is less of a concern about whether Turkey will be able to finance its external debt.\"11. Cutaway of hands12. SOUNDBITE (English) Selva Demiralp, Associate Professor of Economics, Koc University:\"I mean, in Turkey, as you know, the debt-to-GDP ratio is pretty low, and that's one of our advantages, so the government is hesitant to change this with too much of an expansionary policy but in my view at times like this, at extraordinary times like that, it wouldn't hurt if you do loosen your budget a little bit.\"13. Various cutaways of DemiralpSTORYLINE:A senior Turkish economic analyst said on Thursday that Turkey should not suffer long-term economic consequences from last week's coup attempt as long as the principles of democracy and the rule of law were re-established. \"Short-term volatility that we observe is only natural, given the scale of the events that happened last Friday, that investors are spooked,\" said Selva Demiralp, Associate Professor of Economics at Koc University in Istanbul and a former economist on the U.S. Federal Reserve Board.Concerns over Turkey's adherence to the rule of law have led to a drop of around 50 percent in foreign direct investment over the last three years, a problem given the country's gaping current account deficit. This concern is likely to remain due to the instability in the country at the moment.Prof. Demiralp said however that given the abundant liquidity currently in the international financial system there was little concern as to whether Turkey would be able to finance its external debt, notwithstanding the decision by rating agency Standard and Poor's on Wednesday to downgrade the country's debt deeper into \"junk\" status. Prof. Demiralp added that because Turkey's public debt was relatively low (32.9 percent of GDP in 2015) the government might even be able to get away with a slight loosening of its budget to counteract the effects of possible investor flight.The Turkish currency stood at 3.07 against the US dollar on Thursday morning after hitting a low of 3.09 on Wednesday.===========================================================Clients are reminded: (i) to check the terms of their licence agreements for use of content outside news programming and that further advice and assistance can be obtained from the AP Archive on: Tel +44 (0) 20 7482 7482 Email: info@aparchive.com(ii) they should check with the applicable collecting society in their Territory regarding the clearance of any sound recording or performance included within the AP Television News service (iii) they have editorial responsibility for the use of all and any content included within the AP Television News service and for libel, 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