Can TURKEY go BANKRUPT? - VisualPolitik EN
Turkey is in the middle of a debt crisis that goes way beyond the economic sanctions imposed by America. The all-mighty Turkish president, Recep Tayyip Erdogan, believes that concepts like economic orthodoxy and fiscal responsability are Western conspiracies to end with Turkey.
This explains why, in the latest three years, the Turkish Central Bank has flooded the market with cheap credit, with almost no interest, and the Turkish Lira has been devaluated until losing two thirds of its value four years ago. Inflation is growing day after day. And there is a real risk for this country to enter in a hyperinflation scenario.
This wouldn’t be anything new. Turkish economy used to be famous for their inflation. Nonetheless, in this case, a financial collapse of Turkey would transmit to the rest of Europe pretty quickly. Turkish companies owe more than 300 billion USD to foreign banks. So a Turkish default would mean a gigantic hole to the European financial system. But… how did we get here? In this video, we tell you the story.
*Script written by Javier Angulo
Other videos from VisualPolitik:
Why do Kurds want to break with Iraq
https://www.youtube.com/watch?v=GWY1Do1ZRSM
Is Qatar defeating Saudi Arabia?
https://www.youtube.com/watch?v=w5kAnECELxU
Interesting links:
A Turkish miracle with Government money (Spanish): https://elpais.com/economia/2018/02/0...
How Turkey went from investment darling to junk bond:
https://www.economist.com/finance-and...
Turkish president deserves losing: https://www.economist.com/leaders/201...
Support us on Patreon!
www.patreon.com/visualpolitik
And don't forget to visit our friend’s podcast, Reconsider Media:
http://www.reconsidermedia.com/
Видео Can TURKEY go BANKRUPT? - VisualPolitik EN канала VisualPolitik EN
This explains why, in the latest three years, the Turkish Central Bank has flooded the market with cheap credit, with almost no interest, and the Turkish Lira has been devaluated until losing two thirds of its value four years ago. Inflation is growing day after day. And there is a real risk for this country to enter in a hyperinflation scenario.
This wouldn’t be anything new. Turkish economy used to be famous for their inflation. Nonetheless, in this case, a financial collapse of Turkey would transmit to the rest of Europe pretty quickly. Turkish companies owe more than 300 billion USD to foreign banks. So a Turkish default would mean a gigantic hole to the European financial system. But… how did we get here? In this video, we tell you the story.
*Script written by Javier Angulo
Other videos from VisualPolitik:
Why do Kurds want to break with Iraq
https://www.youtube.com/watch?v=GWY1Do1ZRSM
Is Qatar defeating Saudi Arabia?
https://www.youtube.com/watch?v=w5kAnECELxU
Interesting links:
A Turkish miracle with Government money (Spanish): https://elpais.com/economia/2018/02/0...
How Turkey went from investment darling to junk bond:
https://www.economist.com/finance-and...
Turkish president deserves losing: https://www.economist.com/leaders/201...
Support us on Patreon!
www.patreon.com/visualpolitik
And don't forget to visit our friend’s podcast, Reconsider Media:
http://www.reconsidermedia.com/
Видео Can TURKEY go BANKRUPT? - VisualPolitik EN канала VisualPolitik EN
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