at verisk maplecroft. if erdogan continues down this path of policy that he has embarked upon, do you think turkey will be defaulting on its debts any time soon? thank ou. its debts any time soon? thank yom yes. its debts any time soon? thank you. yes, well, its debts any time soon? thank you. yes, well, the its debts any time soon? thank you. yes, well, the turkish - you. yes, well, the turkish lira partly as a result of economic policies under the current turkish government has lost about 80% of its value over the past five years. and in the lead up to the election, one of the ways in which the central bank was holding it off was drawing on its foreign exchange and gold reserves. although that props up the lira it is not necessarily sustainable in the long term and if turkey is no longer able to finance imports or to service its external debt it could end up default. there are corrective actions the turkish government can take to try and hold off that risk but we have
you just have to ever really be disrupted? well, you just have to ask ever really be disrupted? well, you just have to ask all- ever really be disrupted? well, you just have to ask all of- ever really be disrupted? well, you just have to ask all of the l you just have to ask all of the country is, essentially. we would all love to see credible alternatives. but the maths doesn t work, itjust doesn t, so you ve got to really unwind the entire middle east because thatis the entire middle east because that is pegged to the dollar. you have to really ask each country. the countries that really don t like the dollar or at the us policy, it s better the devil you know, and it really comes down to how easy it is to trade, how easy that is, and dollar it really is the number one. let sjust is, and dollar it really is the number one. let s just take the easiest option, the second most popular currency in the world, the euro, has taken well over two decades to get to around 15% to 20% of tota