Economist Podcasts A cut-rate theory: Turkey’s currency spiral
Nov 26, 2021
Join Piotr Zalewski, The Economist’s Turkey correspondent, as he unpacks the turmoil in Turkey fueled by President Erdogan's radical economic policies. Sarah Burke sheds light on the political tensions in Honduras ahead of a critical election, exploring historical unrest and army involvement. Anne Rowe shares the inspiring story of Rossana Banti, a fearless anti-fascist whose secret missions during the Nazi occupation highlight resilience and bravery. These compelling narratives showcase the intertwining of economics, politics, and human spirit.
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Shopkeepers' Protest
- Turkish shopkeepers are burning symbolic money to protest President Erdogan's economic policies.
- They express desperation over unpaid rent and economic hardship.
Economic Crisis in Turkey
- Turkey's economy is in crisis, with soaring inflation and a sinking lira.
- President Erdogan's unconventional economic policies are exacerbating the situation.
Erdogan's Economic Strategy
- President Erdogan defends interest rate cuts and a weaker lira to drive growth.
- This approach, contrary to conventional wisdom, has led to a 15% drop in the lira's value.