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Erdogan buying time and won’t avoid crisis

By Bloomberg
12 August 2018   |   9:30 am
Jacob Kirkegaard, Peterson Institute for International Economics senior fellow, discusses collapse of the Turkish lira with Bloomberg's Shery Ahn and Kevin Cirilli on "Bloomberg Markets

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Turkish President Recep Tayyip Erdogan and his wife Emine lay a wreath at a memorial for the victims of the July 15th, 2016 failed coup against him. That night, a rogue faction in the military tried to take over the country, using warplanes and tanks to attack government buildings. Some 250 people, in addition to at least 24 plotters, died and more than 2,000 were injured in the ensuing chaos as Erdogan rallied his supporters out on the street.
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Turkish President Recep Tayyip Erdogan has defended his "economic vision", even as the lira continues to hover near record lows. The plunge in the value of the currency has left many families struggling to make ends meet. Also in the show: the EU outlines a new trade strategy to give it more leverage against countries that try to coerce the bloc for economic or political gain.