Turkey should be a country with a strongly developing economy. However, the recent Turkish lira crisis indicates the opposite. This article will explore some of the contributing factors behind the lira’s sudden depreciation and the possible effects of the crisis on Erdoğan’s Turkey.
The U.S. and its allies announced new sanctions on Russia targeting foreign assets and removing several banks from the SWIFT payment system. This unprecedented financial penalization could come with unintended consequences.
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