Turkey lira contagion MAPPED: How the Turkish crisis is taking the WORLD down with it…

Monday, August 13, 2018
By Paul Martin

THE Turkey lira meltdown is causing a global economic crisis with countries across the four corners of the world becoming infected.

Mon, Aug 13, 2018

The lira slipped below 7.0 to the US dollar and was down 12 percent on Friday’s value at one point this morning.

The currency is collapsing after Donald Trump doubled import duties on steel and aluminium as part of fresh sanctions on the country.

The countries are embroiled in a diplomatic row sparked by the case of US evangelic pastor Andrew Brunson, which Turkey wants to try on terrorism charges believing he was behind the attempted coup on President Recep Tayyip Erdogan two years ago.

The euro had already plunged after the tariffs were imposed on Friday, with the currency dropping to a 13-moth low this morning.

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