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Bloomberg website of the world's largest business chain, "Erdogan New Dynasty Turkey's investment can not be a title document" has been released.
Bloomberg European market specialist, thirty years of work in the banking sector Marcus Ashworth 'analysis of' bearing the signature 'Erdogan, the fate of Turkey is entirely in the hands. Investors worry about it "was commented on.
" Deputy Prime Minister Mehmet Simsek and Finance Minister Naci Agbal both left the post. It is the authorities that have adopted global financial management and standard economic principles, such as what global investors would like to see. Erdogan has done a lot to ease the tension of investors while increasing sovereignty over the country. It seems that there is no one left to fulfill this role, "said Monday the president, Berat Albayrak, who will lead the newly merged Ministry of Finance and Finance.He consumes all the hopes that common sense and responsibility will prevail in financial matters.
The Bloomberg analysis of Sputnik's translation is as follows: The analysis of Bloomberg by Sputnik is as follows:
Erdogan's n & # 39; No word During the election campaign, he promised that he would take more control over his monetary policy and he did not waste time to do it.It has the security of Turkey was torn the last links in the network and the nation become all the investment can be.
Lightning and breakdowns of Deputy Prime Minister Ağbal's Cabinet
Mehmet Simsek and Minister of Finance Naci AĞBAL are both left the office. who have adopted global financial management and standard economic principles, such as what global investors would like to see. Erdogan has done a lot to ease the tension of investors while increasing sovereignty over the country.
In a statement he made Monday, Berat Albayrak, his son-in-law, said he would head a new unified Ministry of Treasury and Finance. It consumes all the hopes that common sense and responsibility will prevail in financial matters.
"The brave are just playing"
The painful market reaction on Tuesday is probably only a one-off event. to start. With the weakening of the lira against the dollar, 10-year yields exceeded 17%, credit default swaps increased and inventories declined. The banking sector was down 3.7%. credit rating agencies to the new political realities and negative conclusion of Turkey rating more difficult to turn away. The best route for investors is almost certainly to stay out of the way. There is nothing to fix the value of the currency. This is not a good short term target. Borrowing money in Lira and then cheaper to buy will cost at least 17.75 percent.
"It seems normal that the dollar is 5 dollars."
Is it a traffic crisis? It depends on how you describe it. There is very little liquidity and the USD / TL rate of 5 pounds seems to be a new normal. Such a fundamental change in a tight market certainly seems to be a crisis, especially at this moment, only an official intervention is supposed to appease investors' fears.
It is difficult to see that this will happen anytime soon. The normal developments that investors can look for security seem desperate. Any budget announcement will likely involve the opening of the mouth to increase spending in election-sensitive areas, such as the big cities where Albayrak has less support from the ruling AKP. The next meeting of the central bank on July 24 is an opportunity to raise rates and limit price increases. It is difficult to see Erdogan approve of an increase and it is possible that demand will be reduced. Inflation reached 15.4 percent in June, government policies and a weaker currency as it will further increase.
"Turkey's large current account deficit, made dependent on countries in dollars"
decision to overthrow the president still works he can give. Has allowed 500 basic interest rate hikes since April. In this case, a large current account deficit of Turkey, the country became dependent on the dollar shows that the funds have brought little sensitivity to the effects of depreciating pounds. But now that you have ridiculous opinions and sides on clear monetary policy, this does not seem possible.
"The fate of Turkey is all in Erdogan's hand, investors fear that this"
banking system the weakest link. Lenders have invested in cheaper short-term dollars and in the financing of the euro, which is largely immune to rising rates. Most creditors are Western European banks and any sign of their serious withdrawal will raise questions about the stability of Turkish financial institutions. Such a change will surely impress large Turkish companies, since most of them will pay large debts in dollars next year. The fate of Turkey Erdogan is entirely in the hands. This is what worries investors.
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