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Economy
In reply to the discussion: STOCK MARKET WATCH -- Friday, 27 December 2013 [View all]xchrom
(108,903 posts)24. The Turkish Market Is Getting Destroyed
http://www.businessinsider.com/turkish-lira-getting-crushed-2013-12
Almost everywhere all around the world markets are quiet. There's one exception: Turkey.
The Erdogan government is facing a massive corruption crisis, and the Turkish Lira is getting crushed. Turkey has a large external debt position and an ugly trade deficit, so its economy and financial markets are highly sensitive to the whims of the global investor community. And the global investor community doesn't like what it's seeing.
Here's a look at the dollar vs. the Lira over the last week. You can see the big spike today in the dollar relative to the Lira, as investors are dumping lira the moment they wake up.
Read more: http://www.businessinsider.com/turkish-lira-getting-crushed-2013-12#ixzz2ogHKKzgp
Almost everywhere all around the world markets are quiet. There's one exception: Turkey.
The Erdogan government is facing a massive corruption crisis, and the Turkish Lira is getting crushed. Turkey has a large external debt position and an ugly trade deficit, so its economy and financial markets are highly sensitive to the whims of the global investor community. And the global investor community doesn't like what it's seeing.
Here's a look at the dollar vs. the Lira over the last week. You can see the big spike today in the dollar relative to the Lira, as investors are dumping lira the moment they wake up.
Read more: http://www.businessinsider.com/turkish-lira-getting-crushed-2013-12#ixzz2ogHKKzgp
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