UNCRY - A Turkish Italian Domino If Not Now Then By December
I bet the top European Union bureaucrats are counting their lucky stars that the European Parliament suspended talks with Turkey on EU membership back in 2016. Now Turkey can collapse without taking the rest of the EU with it. Maybe.
On the other hand, the Financial Times came out with an article while the Lira had its epic collapse last week (that may yet continue this week) implicating debt-ridden Spain and Italy as having the most exposure to Turkish debt. Not much of a surprise there. Spain is far ahead with $80 billion in exposure,