Turkey’s Economy Is on a Collision Course With Reality
By Jonah Shepp
Turkey’s currency, the lira, fell to a record low on Monday as investors panicked over a perfect storm of internal and external factors casting doubt on that country’s economic stability. The lira has fallen 40 percent against the dollar since the start of the year, from 3.8 per dollar to around 7 to the dollar, as long-simmering problems with the Turkish economy have begun to boil over.
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