The Brexit Blog

The Brexit Blog
News and comment on the Brexit process, as Britain tries to leave the EU.

Friday 10 August 2018

EU Exposed To Turkish Contagion

Turkey is in economic meltdown and the lira is collapsing.

What has this got to do with Europe?


Supervisors at the European Central Bank are concerned about exposure of some of Europe's biggest lenders to Turkey, including chiefly BBVA, UniCredit and BNP Paribas.

Expect defaults aplenty, this will not end well!

No comments:

Post a Comment