Forget Italy, Turkey Is The Main Course

While investors are focused on Italy, Bloomberg’s Mark Cudmore warns that another Mediterranean country is poised to grab their attention very soon. A currency crisis in Turkey is rapidly deteriorating, setting the stage for dramatic and unscheduled central bank action.
The lira has weakened by more than 11% in the last six weeks against an equally weighted dollar-euro basket. This devaluation is exacerbating the situation rather than providing a relief valve.

This post was published at Zero Hedge on Dec 5, 2016.