Turkey Could Create A Larger Crisis Than Greece
The Turkish lira collapse should have surprised no one. Yet, in this bubble-justifying market, it did.
First and foremost, the lira decline has been ongoing for some time, and has nothing to do with the strength of the US dollar in 2018. The collapse of Turkey was an accident waiting to happen and is fully self-inflicted.
Read more at https://mises.org/wire/turkey-could-create-larger-crisis-greece
Europe watches as Turkey burns
Looks like Allah is betting on the dollar.
Nearly a week has passed since a livid Recep Tayyip Erdoğan thundered “they have dollars, we have God” in Washington’s direction.
So far, the Almighty isn’t helping. And while European officials say they would like to help (the last thing the EU needs at the moment is a destabilized Turkey) there’s little they can do but sit and watch.
Read more at https://www.politico.eu/article/recep-tayyip-erdogan-europe-watches-as-turkey-lira-currency-burns/