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Date 21/09/2020 |
Bloomberg: Turkey’s economic troubles to extend across Europe
Whilst many investors believe that Turkey’s economic troubles will remain self-contained, John Floyd, Head of Macro Strategies at Record Currency Management, believes that their impact will extend across Europe in the coming months. Having previously predicted both the Asian crisis and the Argentine currency board collapse, he has commented that, as a result of the lira’s depreciation, Turkish borrowers will struggle to pay back foreign-currency debt. As a result, high exposure to Turkish loans will likely impact an already challenged Europe.
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