Note: This post was originally published on Patreon on 11 Jul 2018
Turkish bond yields are skyrocketing as the Turkish lira plummets today. This is all because of signs of poor governance to add to the existing signs of poor macro fundamentals. The question, though, is whether Turkey is an outlier or a sign of more to come.
A personal tale of Turkey's descent into authoritarianism
During the European sovereign debt crisis, before he was Deputy Prime Minister, Mehmet Şimşek and I followed each other on Twitter. He's a guy of Kurdish origin who went to a British University and worked in the City of London and on Wall Street for international investment banks back when I was there too. He only entered politics in 2007.
When he joined Erdogan's cabinet as Finance Minister in 2009, it w...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.