Turkey: Capital Outflow Endangers Economic Stability
Published: August 24, 2013; 15:37 · (Vindobona)
The monetary and economic stability is under enormous pressure. Turkey´s National Bank does not have sufficient reserve to support the Turkish lira.
Turkey: Capital Outflow Endangers Economic Stability / Picture: © Vindobona.org
In the last five years, Turkey was a profiteer of the crisis in the Eurozone. Since the beginning of the year, however, more and more investors are leaving the country.
For emerging markets like Turkey, the end of the quantitative easing in the U.S. causes an increase in sovereign bond yields. Since May 2013, the emergency reserves of Turkey´s National bank were down by 13%.…
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