Turkey at economic precipice – revolutionary events on the horizon
The Turkish economy has entered a state of organic instability. A sharpening political conflict with the US, which has imposed punitive tariffs on Turkish steel and aluminium imports, has caused the Turkish Lira to plummet in value. At its nadir, the currency was worth 40 percent less than in January. The ‘stabilisation’ of the currency that followed merely meant that, for the past week, dollars could be exchanged for 30 percent more Liras than before the crisis began.