Erdogan U-Turns: Why is the Lira Still Collapsing? [Video]

Sign up to Brilliant (the first 200 sign ups get 20% off an annual premium subscription): https://brilliant.org/tldrglobal/

For the past year, Turkish President Erdogan has refused to raise interest rates, despite the collapsing currency and soaring inflation. However, following his re-election, he seems to have U-turned on his decision that saw the banks finally raise rates. In this video, we explore the consequences of his policies, the government’s attempts to stabilise the economy, and how the recent rate increase could affect the Turkish economy.

💬 Twitter: https://twitter.com/tldrnewsglobal
📸 Instagram: http://www.instagram.com/tldrnewsglobal
🎞 TikTok: https://www.tiktok.com/@tldrnews
🗣 Discord: https://tldrnews.co.uk/discord

💡 Got a Topic Suggestion? – https://forms.gle/mahEFmsW1yGTNEYXA

Support TLDR on Patreon: http://www.patreon.com/tldrnews
Donate by PayPal: https://tldrnews.co.uk/funding
TLDR Store: https://www.tldrnews.co.uk/store
TLDR TeeSpring Store: https://teespring.com/stores/tldr-spring
Learn About Our Funding: https://tldrnews.co.uk/funding

TLDR is all about getting you up to date with the news of today, without bias and without filter. We aim to give you the information you need, quickly and simply so that you can make your own decision.

TLDR is a completely independent & privately owned media company that’s not afraid to tackle the issues we think are most important. The channel is run by just a small group of young people, with us hoping to pass on our enthusiasm for politics to other young people. We are primarily fan sourced with most of our funding coming from donations and ad revenue. No shady corporations, no one telling us what to say. We can’t wait to grow further and help more people get informed. Help support us by subscribing, following, and backing us on Patreon. Thanks!

/////////////////////////////////////

1 – https://www.duvarenglish.com/chamber-of-commerce-reports-istanbul-inflation-rate-as-73-percent-news-62137
2 – https://enagrup.org/
3 – https://www.ft.com/content/246951b4-1bcd-4144-a9c9-33f9f6c3e107
4 – https://www.france24.com/en/europe/20230529-from-inflation-to-nato-turkey-s-erdogan-has-stacked-in-tray-for-last-presidential-term
5 – https://www.bloomberg.com/news/articles/2023-05-18/turkish-fx-reserves-shrank-by-record-in-week-before-elections
6 – https://www.bloomberg.com/news/articles/2023-05-18/turkish-fx-reserves-shrank-by-record-in-week-before-elections
7 – https://www.reuters.com/world/middle-east/turkish-cenbank-data-shows-3-bln-inflow-abroad-bankers-2023-06-08/
8 – https://www.ft.com/content/246951b4-1bcd-4144-a9c9-33f9f6c3e107
9 – https://www.politico.eu/article/end-recep-tayyip-erdogan-economics-turkey-double-interest-rate-inflation/
10 – https://en.wikipedia.org/wiki/Hafize_Gaye_Erkan
11 – https://www.ft.com/content/4d6a4a42-e000-4cc7-9541-70fd15e405a0
12 – https://www.ft.com/content/4d6a4a42-e000-4cc7-9541-70fd15e405a0
13 – https://asia.nikkei.com/Economy/Turkey-raises-interest-rate-to-15-from-8.5-to-fight-inflation

00:00 – Introduction
01:03 – Turkey’s Efforts to Protect the Lira
04:09 – The U-Turn
06:34 – What Happens Next
07:19 – Sponsored Content