Why Turkey’s Lira Crisis Matters Outside Turkey

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  • Investors are fretting about emerging markets again.

Turkey is the front-burner concern at the moment, but what really is getting people’s attention is the prospect that the financial problems there could spread to other fast-growing but risky countries.

  • By Matt Phillips
  • The New York Times

If history is any indication, that has the potential to quickly turn a local crisis into a global one.

Or maybe not.

Elep 2bWhat’s happening in Turkey?

Over the last week the value of the Turkish lira collapsed by more than 20 percent, shocking financial markets

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