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Sep 21

At the birth of Turkey’s currency crisis

In August the Turkish lira went on an extended down-slide. Today alone it lost nearly 20% of its value. It will likely take the Turkish economy with it and Erdogan need someone to blame for it.

But while foreign powers and banks surely use the crisis for their own aims, it is its Erdogan’s economic policy that is foremost to blame. The long boom he created with borrowed foreign money is finally turning into a bust.

MoA – How Turkey’s Currency Crisis Came To Pass

MoA – How Turkey’s Currency Crisis Came To Pass

Updated below—

Source: www.moonofalabama.org/2018/08/how-turkeys-currency-crisis-came-to-pass.html