Wednesday November 25, 2020

Jitters in Turkey, Hungary

First Iceland. Now Turkey. And Hungary is looking wobbly. Europe is increasingly encircled by financial woes.

8th July, 2006

First Iceland. Now Turkey. And Hungary is looking wobbly. Europe is increasingly encircled by financial woes. Its emerging markets are being hit by a wave of speculative selling, pushing currencies into freefall, and prompting big increases in interest rates.

The worrying questions now are: Will those crises turn out to be contagious, as they did in Asia in the last decade? And, if that is a risk, is there anything the rest of Europe should...

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