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‘I Dare You’: Erdogan Sets Stage For Outright Collapse In Turkey With Sunday Speech
"Any sign of any emergency program or package for markets opening tomorrow?", asked an incredulous Timothy Ash (from Bluebay Asset Management) on Sunday, as the clock ticks down on Turkey's currency crisis.
Following the lira's collapse on Friday, reports suggested Turkish banks were struggling to keep up with demand for foreign currency, a sure sign that locals did not heed Recep Tayyip Erdogan's desperate call for citizens to trade in their dollars, euros and gold for lira.
On Saturday, Er
Obviously, next week will not go well for anything financially related to Turkey. I’m wondering about the magnitude or amplitude of the moves on Monday and next week. Will they be “bigger” than Friday?