End Game: Lira Collapses Raising Specter Of Capital Controls, IMF Bailout

After weeks spent teetering on the brink, the Turkish lira collapsed on Friday, falling more than 13.5% at one point to beyond 6.30. Thursday's losses were already accelerating amid what some traders described as stop-loss selling in TRYJPY (that's a repeat of what happened several months ago during another particularly acute episode) and then, the Financial Times made things immeasurably worse. According to two sources who spoke to FT, the Single Supervisory Mechanism is worried about some Eu