On Geopolitics

Making Sense of Turkey's Economic Crisis

Reva Goujon
VP of Global Analysis, Stratfor
Aug 16, 2018 | 09:00 GMT
A teller holds Turkish lira banknotes at a currency exchange office in Istanbul on Aug. 13, 2018.

A teller holds Turkish lira banknotes at a currency exchange office in Istanbul on Aug. 13, 2018. Turkey's troubled lira tumbled on August 13 to fresh record lows against the euro and dollar, piling pressure on stock markets on fears the country's crisis could spill over into the world economy. (Photo by Yasin AKGUL / AFP)

(YASIN AKGUL/AFP/Getty Images)

Once again, economists and financial experts are pulling out their hair trying to understand the populist, authoritarian enigma that is Turkish President Recep Tayyip Erdogan. With the lira plunging to scary new depths, many will ask incredulously how the political steward of an $850 billion economy could be so reckless...

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