Turkish lira rockets after Erdogan’s promise to protect deposits (Al Jazeera)

December 21, 2021

The Turkish lira rocketed off record lows on Tuesday after President Recep Tayyip Erdogan announced new measures to safeguard local currency deposits against severe market volatility.

In a speech late on Monday, Erdogan said if lira losses against foreign currencies exceed banks’ interest rates, the government will cover those losses for lira deposit holders.

Turkish lira rockets after Erdogan’s promise to protect deposits | Business and Economy News | Al Jazeera

Marco Emanuele

Marco Emanuele è appassionato di cultura della complessità, cultura della tecnologia e relazioni internazionali. Approfondisce il pensiero di Hannah Arendt, Edgar Morin, Raimon Panikkar. Marco ha insegnato Evoluzione della Democrazia e Totalitarismi, è l’editor di The Global Eye e scrive per The Science of Where Magazine. Marco Emanuele is passionate about complexity culture, technology culture and international relations. He delves into the thought of Hannah Arendt, Edgar Morin, Raimon Panikkar. He has taught Evolution of Democracy and Totalitarianisms. Marco is editor of The Global Eye and writes for The Science of Where Magazine.

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