Sanctions Threat Sends Lira to Low

The transcript discusses the recent depreciation of the Turkish lira and the potential for capital controls. It explores the role of the Central Bank in stabilizing the currency, emphasizing the need for significant action. The market's negative reaction to minor measures is highlighted, along with the challenges posed by Turkey's debt and exposure. The discussion underscores the economic pressures facing Turkey and the critical decisions required to address them.

What does the term 'catharsis' imply in the context of the current economic situation in Turkey?

Discuss the significance of the $100 billion debt coming due in the Turkish economy.