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A new paradigm for a post-imperial world

Posts Tagged ‘turkey looks east’

Revisiting Turkey’s debt problem

Posted by seumasach on December 18, 2018

Tom Luongo

14th December, 2018

It is increasingly clear the global economy is slowing down.  And a few months ago the epicenter for that slowdown was Turkey.

The Turkish Lira melted down as fears over its massive pile of corporate debt, most of it denominated in dollars, began selling off.  And that had contagion effects into Europe since yield-starved banks went looking for some thanks to the ECB’s negative interest rate policy.

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