All Heck Breaks Loose amid Fears of Another Currency Crisis after Turkey’s Central Bank Governor Got Sacked Following Shock-and-Awe Rate Hike by Nick Corbishley • Mar 22, 2021 • 98 Comments The Lira plunges, stocks plunge, yields jump. Capital controls expected.
On Concerns about Turkey’s Financial Health, Lira Dives to New Low, Cost of Insuring Turkish Sovereign Debt Nearly Doubles by Nick Corbishley • Sep 17, 2020 • 60 Comments The heavy weight of debts denominated in foreign currency. Borrowing in dollars & euros is cheap until it isn’t.
Turkey’s 2nd Financial & Currency Crisis in 2 Years Blossoms. Heavily Invested European Banks Look for Exit. But Not the Most Exposed Bank by Nick Corbishley • Aug 15, 2020 • 41 Comments Big Gamble that was hot for years has gone sour after Turkish lira’s plunge and surge of defaults on bank debts denominated in foreign currency.
Turkey in 2nd Currency Crisis in 2 Years. Lira Hits Record Low by Nick Corbishley • Jul 31, 2020 • 59 Comments Foreign investors are fleeing, worried about surging inflation, deeply negative real interest rates, and a central bank unwilling to crack down on inflation.
As Bad Loans Explode in Turkey, Government Tries to Recreate Debt-Fueled Boom that Led to its Financial & Currency Crisis by Nick Corbishley • Nov 17, 2019 • 31 Comments Banks are being pushed to lend with the same reckless abandon.
Turkish Financial Crisis Hammers Home Sales & Mortgages by Don Quijones • Jun 21, 2019 • 17 Comments Sales of homes of all types plunged 31% year-on-year, sales of new homes crashed 39%, and the number of mortgages written collapsed 65%
Threat of Contagion to Eurozone from Spanish Banks’ Huge Bet on Emerging Markets: UBS by Don Quijones • Apr 18, 2019 • 19 Comments Spanish banks expanded aggressively into Emerging Markets to flee the consequences of the euro debt crisis.
Turkey’s Debt Crisis Deepens, Erdogan Bails out Banks His Way by Don Quijones • Jan 15, 2019 • 13 Comments Shifting bad consumer & business debts from banks to the public, but the way this bank bailout got packaged is pretty nifty.
Loans Sour in Turkey, Inflation Hits 25%, Interest Rates Spike, Fears of Contagion Rise by Don Quijones • Oct 5, 2018 • 37 Comments The economic miracle fueled by foreign-currency debt.
Turkey, Argentina, Other Emerging Markets Hit BBVA by Don Quijones • Sep 11, 2018 • 24 Comments After the euro debt crisis, Spain’s alpha-lender sought greener pastures in the Emerging Markets. That bet is coming home to roost.
