Bloomberg: Lira Slides After Erdogan Says Islam Demands Lower Rates
The lira tumbled to another record low and stocks and bonds nosedived after Turkish President Recep Tayyip Erdogan pledged to continue cutting interest rates, referring to Islamic proscriptions on usury as a basis for his policy.
The currency weakened more than 8% to break past 18 per dollar Monday, heading for a fifth day of declines.
It’s lost half its value over the past three months, the biggest retreat of any currency in the world over that period. Yields on 10-year lira bonds jumped more than 100 basis points to 23.9%.
Read more ....
WNU Editor: Here is an easy prediction. Turkey's economic crisis is going to get worse.
Turkey's Currency Crashes. Trading On Stock Markets Suspended
Lira crashes to new low of 20 vs euro after Erdogan comments -- Reuters
Turkey: Stock trading halted again due to rapid losses -- Al Jazeera
Turkey Stock Trading Halted By Circuitbreaker For Second Day Amid Margin Call "Panic Selling" -- Zero Hedge
‘There’s jobs but no money’: Turkey’s economic crisis begins to bite -- The Guardian
6 comments:
Good morning suckers no money no fun
Many groups from Hezbollah to Erdogon's party to you garden variety communists can set up welfare for a plurality of the people. But now he has to do it for 60%, 70% or more of the people and he cannot deliver. He is in his own way. He will not succeed.
Imagine a Turkey that spent the last decade focused on it's own development instead of toppling the Syrian government. I'd be willing to bet Erdogan would be in a lot healthier position right now.
^^^ Agree
Good to see an hislamic country in ruins of their makings. Evil ideology.
Erdogan and his prowess's........
Post a Comment