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michael norton

Turkey’s president for life, Recep Tayyip Erdoğan, is a populist juggernaut, fond of suggesting that his leadership is the only way to protect the country from enemies both real and imagined. The coronavirus pandemic, however, is an existential crisis unlike anything he has faced before.
The economy of Turkey is taking a nosedive, the contagion is running out of control, he is fighting wars in Turkey against Kurds and in Libya and in Syria, whilst also try to harass Greece and Cyprus.
The Turkish lira dropped to a record low this week of nearly 7.27 to the dollar as central bank interest rate cuts intended to boost growth – as well as investor fears over Turkey’s depleted foreign currency reserves – began to bite.