united states and around the world. this is early start. i m christine romans. i m dave briggs. 4:00 a.m. in new york, and montreal, 11:00 a.m., in sochi, jerusalem and reports from there shoortly. we start with the cease-fire with turkish and kurdish forces. u.s. troops pulling out. being pelted by ratten potatoes. what happens after the cease-fire ends today is not clear. turkish president erdogan, said we will take over where we left off. erdogan and putin, supposed to meet at a lengthy meeting.
we really appreciate it. time for cnn money now, currency plunge in turkey rattling markets around the world as investors fear it could turn into a global crisis. cnn chief business correspond t correspondent. the lira rebounding about 6% right now but it s down 40% against the dollar this year. it s president is feuding with president trump, turkey faces sanctions and new tariffs, but that s only the most recent drag on the lira. long thrash by a mix of autocratic politics, u.s. rate interest hikes and president erdogan won t raise interest rates in turkey to defend the currency. inflation, john, is now near 16%. for years, turkey borrowed huge amounts of money when the u.s. dollar was cheap and interest rates low, now it has soaring debt payments it may not be able to make. what happens in turkey really matters here. the nato ally shares a border with syria. the concern now whether its
transparent figure leaf? hundreds of thousands came to see barack obama in germany in 2008 when he was a political candidate and there weren t millions of american voters in germany as there are millions of turkish voters in germany today, dual nationals. the germans just sucked up the public problems of closing down streets all over berlin. this is a patent effort to deny a democratic freedom of speech process because you don t like the people talks, because you are biased against muslims or people who take an authoritarian approach to democracy. turkey says they are going to respond. should they be saying refugees instead? turkey is playing a crucial role in taking millions of refugees from syria and iraq. erdogan won t change that. when he announces sanctions, he said he would implement them