After last week’s failed coup, Turkey will be the focus of the financial markets for the next few weeks. The long-term investability of the country has now been thrown into question as political turmoil coupled with economic uncertainty, and currency volatility is almost sure to scare investors away.
Despite Authoritarian Turn In Turkey, UBS Still Bullish; Other Banks Not So Sure
Luckily, most US companies have limited exposure to Turkey’s economy; most European companies also have limited exposure. However, European banks are more exposed than most to the now volatile region. A report from Deutsche Bank released the beginning of this week picked out Spanish banking giant BBVA and Italy’s UniCredit as the two European banks with the most exposure...
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