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Friday, June 01, 2018

How Turkey could bring down the euro - MoneyWeek

How Turkey could bring down the euro
By: Andrew Van Sickle
01/06/2018

Italy and Turkey appear to be separate problems – until you remember European banks’ penchant for careless lending. Turkey’s overall foreign-currency debts total about $450bn, says Charles Gave in a Gavekal research note. Turkish banks and companies owe approximately $150bn to foreign creditors, mostly European banks, some of whom have scooped up big stakes in their Turkish peers.

More:How Turkey could bring down the euro - MoneyWeek