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Meanwhile, Turkey Plays With Fire
Last year, Recep Tayyip Erdogan promised to get interest rates (the "mother and father of all evil", as he calls them) back into the single-digits.
When it comes to domestic affairs, Erdogan takes an "or else" approach to things he wants. That is, if he wants something from you, you'll give it to him, "or else".
For former central bank chief Murat Cetinkaya, "or else" meant losing his job last summer for failing to cut rates fast enough. His replacement, Murat Uysal, swiftly delivered the larg
H-Man, Turkey has a limited supply of dry powder and when that runs out, time to devalue the currency and start over. Sorta like taking an eraser to the chalkboard.