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Lira Lifesaver Became $124 Billion Gamble That Now Haunts Turkey

Lira Lifesaver Became $124 Billion Gamble That Now Haunts Turkey
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Lira Lifesaver Became $124 Billion Gamble That Haunts Turkey

(Bloomberg) As the lira was approaching a decade of continuous losses, Turkish policymakers hit on an idea that promised a quick fix, and it helped stave off another currency crisis.Most Read from BloombergBorrowers With $39 Billion in Student Loans Finally See ReliefBond Bulls at JPMorgan, Allianz Keep Piling Into a Bet Gone BadPutin Turns to Ruble and Ballot to Shore Up Shaken AuthorityCargill Tests 123-Foot-Tall Sails in Effort to Slash Fuel BurnBut nearly two years on, a government-backed

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