RE:I guess our poor Turkish banker friends got caught up in theGoaweigh wrote: Same unfettered capitalism that every other bank on the planet did it's just they're a little late to the party. On no,we're all gunna die just like last time.
Isn't this a reoccurring theme, some minor set back magnified 10 fold by the economists at Goldman and Morgan a bunch of hedge funds are interviewed by Bloomberg etc. and everything is going pear shaped and we're all facked but somehow, miraculously , it isn't so bad after all, the sun came up as usual, the Lira stabilized, the Gov didn't steal our assets and the World kept turning until next time.
OMG, is that what I think it is .....sell everything and run for your lives.....
A small one day bounce in the currency is not stabalization. Past crisis have typically taken years to resolve and have involved bailouts, reforms and recessions. There appears no path forward atm and so ongoing uncertainty continues. Valeura may have a couple of years funding but this financial crisis could easily go on for much longer than that if nobody is prepared to compromise. None of the paths forward are easy but I agree with you the sky isnt falling in (yet)