BCS - The Turkish Hamam Is Getting Too Hot For European Banks. Avoid The Bazaar!
Background
It was only five weeks ago, when we wrote an article about Spain (EWP) and its two largest banks - Banco Santander (SAN) and BBVA (BBVA) - being too much exposed to the Brazilian (EWZ) struggling economy. T wit:
Latin America accounts for 46% of the revenues of the two largest Spanish banks, Banco Santander (SAN) and BBVA (BBVA).
Here is the bottom line of that article dated July 4th 2018:
These are rough times for Brazil, Turkey (TUR)