The battle waged by Turkey’s Recep Tayyip Erdoğan against currency speculators is a classic pyrrhic victory. The show of resolve by the self-styled strongman on Wednesday stopped investors from dumping the lira but at enormous cost in both the short and long term. That Turkey will be damaged is beyond question. All that’s in doubt is how severe that damage will be and whether the fallout will be felt elsewhere. Looking at the fragile state of the global economy, there’s every chance it will be.
wait and see baby, just 4 days ;)
Turkey economy will collapse soon
Shameless use of Star Wars quote. Turkey also likely the spark that lights the fire that reignites conflict in northern Syria.
Boom.
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