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Turkey’s lira crisis: ‘economic war’ sees Erdoğan look east for new allies

  • Global markets are on edge once again, this time thanks to the Turkish lira.

It crashed more than 15% against the US dollar, euro and pound sterling on August 10 and continued to fall when markets reopened after the weekend on August 13.

  • Emre Tarim
  • The Conversation

The latest trigger was Donald Trump’s announcement that he would double import tariffs on Turkish steel and aluminium.

Emre 2bBut the lira has been falling consistently over the past year as markets fear for the president’s increasing control over the…

With their mammoth depth and reach, global currency markets reflect big shifts to new economic and…

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