The currency has lost more than 30% of its value so far this year.
Meanwhile, concerns were intensified on August 10 by a report in the Financial Times that the supervisory wing of the European Central Bank (ECB) had over the last weeks began to look more closely at eurozone lenders' exposure to Turkey. "Look at what we were 16 years ago and look at us now".
The lira pared some of its losses to trade at 5.9646 against the dollar at 0745 GMT, down 5.5 percent, after slumping as much as 14.6 percent to hit an all-time low of 6.4915 in early trade, according to Reuters data. Markets are deeply concerned over the direction of economic policy in Turkey where inflation has hit almost 16 percent while the central bank remains reluctant to raise rates in response.
Turkey will adopt a new economic approach under its executive presidency, one that will be decisive, sustainable and based on a "strategic mentality", Treasury and Finance Minister Berat Albayrak said on Friday. He has presented an economic action plan for the next 100 days.
"In most cases though, we suspect that this resilience will prove temporary", they said, highlighting expectations of rising USA interest rates and worries over growing USA protectionism.
‘Multiple fatalities’ in Canada shooting
At least four people were killed in a shooting incident in the eastern Canadian city of Fredericton, police said on Friday. Witnesses spoke of hearing four shots ring out from an address on Brookside Drive around 8.20am local time.
A new analysis by Berenberg Bank sees little long-term impact of high Turkish inflation and low interest rates on eurozone gross domestic product (GDP) growth.
European economist Carsten Hesse said Friday that even if the export of goods to Turkey falls 20 percent that would take no more than 0.1 percentage point from annual GDP in the 19 countries that use the euro currency.
In fact, TRY once again drops below the 6.0 mark after Erdogan said the country faces a wave of artificial financial instability.
An analyst at Berenberg bank in London is downplaying the risks to Europe's economy from Turkey's currency turmoil, saying the impact on trade would be small.
"Many of these European banks have their own non-performing loans and liquidity issues to deal with themselves".
Sixth seed Marin Cilic awaits in the quarter-finals following his speedy defeat of Argentina's Diego Schwartzman 6-3 6-2. Tsitsipas set up match point with a scorching cross-court victor before completing the victory in 2 hours, 17 minutes.
Skripal settled in Britain after a 2010 prisoner exchange. "The UK welcomes this further action by our US allies". These are sensitive goods that normally would go through a case-by-case review before they are exported.
The Infowars app contains only rebroadcasts of the current day's episodes, subjecting a much smaller set of content to the rules. Jones has also claimed that the September 11, 2001 attacks on NY and Washington were staged by the USA government.
So if you can find a spot away from artificial light and free of clouds, you will be in for a great show! Capturing the fleeting light show requires some luck as meteors quickly strike through the starry skies.
Many frightened villagers are staying under tents or tarpaulins dotted along roads or in parched rice fields. It struck northwest of Lombok, which is close to Bali, but the agency said it would not cause a tsunami.
China's foreign film quota allows a maximum of around 34 foreign films to be imported into the country per year. The government has not completely banned photos of Pooh from the internet, but it has restricted them.
We have a lot of respect for our opponents, No. 1, and everyone in the league. "I should've never went to Carolina". For those who haven't heard, Benjamin didn't hold back in his public criticism of his former teammate.
Jurgen Klopp's men begin their Premier League campaign against West Ham on Sunday. I'm happy that we came through the pre-season so far, so good".
French rescuers evacuate 750 campers amid flash floods
Supported by four helicopters, more than 400 firefighters and paramilitary officers were mobilized for the rescue operation. A 70-year-old German man was said to be missing after reportedly being swept away inside his van at one campsite.
Baker Mayfield’s First NFL Preseason Game Is Over
After that, it was easy pickings for Njoku, who ran past Ogletree for an uncontested 36-yard touchdown pass from Tyrod Taylor . The Browns flew to East Rutherford, New Jersey to take on the New York Giants and an offseason of hype finally hit the field.
First Lady Melania Trump's Mom & Dad Become US Citizens
Although Melania started from humble roots, she launched a successful modeling career prior to her marriage to the president. Green cards can also be obtained through employment, receiving asylum or refugee status, or in other special circumstances.