After the flare-up in Turkey which saw its currency drop 25% in a week, major tensions with the US, and even talk of its entire economy collapsing, things appear to have quietened down over the past few days, as the country settles in to try and solve its problems.
Just because things have calmed down, however, doesn’t mean Turkey is out of the woods yet, and a recent note from HSBC shows just why.
Writing to clients this week, HSBC’s Melis Metiner, an economist for central and eastern Europe, the Middle East, and Africa, said that there are still several signs that things could get worse before they get better in the stricken nation.