German Authorities Deny Considering Financial Assistance for Turkey

Germany has no plans to extend financial assistance to Turkey, German government spokeswoman Ulrike Demmer said on Wednesday.

The statement came after Wall Street Journal reported on Tuesday that Berlin, fearing that the Turkish economic crisis might spill over into Europe, was planning to provide emergency financial assistance to Ankara.

Berlin’s main concern is that the crisis in Turkey might increase the flow of refugees fleeing to Europe. Germany took in nearly two million asylum seekers since 2015.

“Our position remains unchanged,” Demmer was quoted as saying, referring to the estranged ties between the two countries. However, Demmer added that Germany had an interest in “a stable, prosperous and democratic Turkey.”

According to WSJ, a senior German official said Turkey needed to be stabilized since European states got concerned over the dismay Ankara was going through. The report came after a meeting between French Finance Minister Brune Le Maire and his Turkish counterpart in Paris, where the official reiterated the point that it was important to repair the Turkish economy.

Two senior officials in Berlin said German Finance Minister Olaf Scholz had discussed the issue with Turkish Minister Berat Albayrak. Both of them are scheduled to meet in Berlin to prepare President Erdogan’s visit to the city on September 28. The Turkish president is set to discuss financial aid to Turkey.

Turkish financial crisis started to escalate after the Turkish currency collapsed against the U.S. dollar in the aftermath of the U.S. sanctions.