According to a report published in the Wall Street Journal, the German government is considering providing emergency financial assistance to Turkey amid growing concerns that a full-blown economic crisis could destabilize the region.
A senior German official was quoted saying: “We would do a lot to try to stabilize Turkey and we don’t have much choice.”
Other European governments have grown equally concerned and feared that a meltdown of the Turkish economy could spill over into Europe, causing further unrest in the Middle East and trigger a new wave of immigration toward the north.
Meanwhile, the USD/TRY was quick to react to the news and eased a bit from tops, albeit has still managed to hold comfortably above the 6.00 mark, up around 1.30% for the day.
Share
