Turkey’s financial turmoil

The lira has had a tumultuous week as the markets punished an already struggling economy. Yet President Erdogan clings to his strategy, urging Turks to turn their gold into lira and boycott US goods. Here’s the best of this week’s opinion and analysis

© FT montage; Getty Images; Bloomberg

Critics say the roots of the crisis lie in the sidelining of critics and the weakening of institutions

For him, economics is an accessory to politics, to drape around the election calendar

After a run-up in dollar debt, other emerging markets face pressure

Inadequate policy response from Ankara is inflicting damage on other countries

Thanks to US sanctions, the Turkish leader can claim there is an effort to sabotage him

The lira has lost more than 40 per cent of its value since the start of the year

More from this Series

Brussels would do well to encourage the democratic values many Turks subscribe to

Spreading bond bear market means appealing alternatives are disappearing

Trump has broken with US tradition to cheer on the looming crisis

To seasoned EM watchers, echoes of the Asian financial crisis are unnerving

The key issue is not solvency but liquidity, and access to global debt markets