Another fine mess.
ToskanaINC
Contrary to most economists, President Erdoğan has long believed that raising interest rates increases inflation.
‘Get 'em while they’re cheap.’
EPA
President Recep Erdogan and independent central banks are not compatible.
People queueing to buy forex at currency exchange in Istanbul.
EPA
It’s two years since Turkey’s last near-death experience, and the same short-term fixes are unlikely to work again.
Sometimes you have to look back to move forward.
AP Photo/Lefteris Pitarakis
US sanctions announced earlier this month may have triggered the plunge in the lira, but the government has been mismanaging Turkey’s economy for years, creating severe vulnerabilities.
Money, money, money.
EPA/Erdem Sahin
What looks from the outside like a domestic currency crash is in fact something far more dangerous.