Turkey says no to US, currency is down almost 15% in day

4 posts / 0 new
Last post
SeekingAPolitic...
Turkey says no to US, currency is down almost 15% in day

https://markets.businessinsider.com/currencies/usd-try

Watch the graph above.

Erogand refuses US pressure, the lira collaspe.  Trump duoble steel and aluimum tariffs in tweet agaisnt Turkey.

WWWTT

Thanks for starting the thread!

This one has some history that's worthy of some research. And a bunch of different angles Kurdish peoples, NATO, European Union, Syria, Iran, Russia, Russian weapons, probably China, Shanghai Cooperation Organisation. And maybe another half dozen!

NDPP should be able to provide more?

NDPP

How Turkey's Currency Crisis Came To Pass

https://t.co/jLCvU0By7Z

"Here is a recap of how it came to this..."

NDPP

ECB Fears Contagion From Turkish Lira Collapse, Bank Stocks Plunge

https://www.nakedcapitalism.com/2018/08/ecb-fears-contagion-turkish-lira...

"Now even the ECB is beginning to fret about the political impact the plummeting Turkish lira may have on Eurozone banks that are heavily exposed to Turkey's economy via large amounts in loans - much of it in euros - through banks they acquired in Turkey. Given the plunge in the lira, companies have trouble servicing their euro loans and are beginning to default. And loans in local currency are plunging in value along with the currency. This is how the currency crisis in Turkey, which is turning into a debt crisis could set off contagion effects among banks in France, Spain and Italy - a risk we have been exposing for two years..."