As economic turmoil takes a heavy toll, gunshots are fired at US embassy and Erdogan says outside forces are trying to bring the “Turkish people to their knees”.
Ankara also hit by withering note from Fitch. Lira stays steady as market was already braced for the triple-whammy.
No capital controls, no IMF, says Albayrak. But analysts warn he could be in for a rude awakening somewhere down the road.
June’s weak expansion of 3.2% y/y and currency crisis portend recession and jump in banks' non-performing loans.
Like Moscow, Ankara has fallen out of the top 30 largest holders of US T-bonds. Iran and China are also on board with the idea of settling transactions in national currencies.
Idea discussed by presidents of Serbia and Kosovo has met with international opposition and criticism from politicians at home.
As the Turkish lira rallies to stronger than 6 to the dollar, analysts debate the significance of $15bn from Doha.
EBRD tops single lender list issued amid Turkey’s currency crisis.
Vice-president speaks of "retaliation for conscious attacks on our economy ". The lira, meanwhile, continues to rebound.
Markets wonder whether President Erdogan, who notoriously opposes costlier credit, is aware of what the regulator is up to. Experts warn of “side effects”.
Former minister says the ruling PSD has “gone too far” and calls on Liviu Dragnea to resign after avalanche of criticism from the opposition over brutal intervention by riot police at August 10 protest.
Currency experiences relief rally as situation mildly stabilises, Turks nervously await Trump’s response to president’s move against American merchandise.
Survey report from New York-based Academy Securities notes Ankara’s increasing cosiness with Moscow and rows with the US.
President Iohannis accuses government of failing to take responsibility for brutal intervention by riot police at recent protest, while ruling PSD says the president incited “social anarchy”.
Economic contagion experts are sizing up Turkey’s meltdown against the 1997 Asian Financial Crisis which caused the Russian economy, and others, to collapse. With the Turkish lira in freefall should other emerging markets be feeling the jitters?
Technocrats scramble for effective remedial measures, president hits out at White House for seeking to “stab your strategic partner in the back”.
Michael Daventry recalls the torturous slog and loss of dignity that followed the country’s 2001 currency collapse—and led to the rise of a then little-known leader. Could history repeat itself?
Turkish lira crashes to astonishing all-time low of 7.24 to the dollar in early trading but if Turkey's leader is to be believed there is no possible economic explanation for it.
But the soon to be appointed minority government headed by Marjan Sarec depends on support from far-left Levica that staunchly opposes privatisation, making it unclear how Ljubljana will carry out its promise to sell off the bank.
50,000 anti-corruption protesters return to Victory Square to demand the government's registration, unbowed by lavish use of tear gas and clashes with riot police the previous night.