Lira Lifesaver Became $124 Billion Gamble That Now Haunts Turkey bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
(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