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Monday, April 28, 2008

Turkey's economy

"Turkey's economy

For proof that Turkey's economy and the government of Prime Minister Recep Tayyip Erdogan may be unraveling, look no further than the lira.
The ruling Justice and Development Party touts the lira's growing ``prestige'' on its Web site following the currency's record 21 percent rally in 2007. Those gains are evaporating as inflation and political instability grip the Muslim nation of 72 million seeking membership of the European Union. The lira has fallen 8.4 percent against the dollar this year, to 1.2785."

More:Alpha Global Investors: Turkey's economy