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    Turkey’s Currency Crisis Raises Cost of Living, Threatens Financial System

    ISTANBUL—Turkey’s currency crisis is driving up the cost of food, medicine and other essentials for average Turks, and poses a threat to the country’s banks and large companies if the lira’s slide isn’t arrested, economists said.

    The steep drop in the lira, which has lost more than a third of its value to the dollar in eight months, is shaking a Turkish society that had long prided itself as an ascendant economy that rivaled its European neighbors. Ordinary people are now struggling with a decline in their living conditions, with rampant inflation putting pressure on wages and eating into savings.

    Turkey’s Currency Crisis Raises Cost of Living, Threatens Financial System Source link Turkey’s Currency Crisis Raises Cost of Living, Threatens Financial System

    The post Turkey’s Currency Crisis Raises Cost of Living, Threatens Financial System appeared first on Eminetra.

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