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Politics : High Tolerance Plasticity

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To: upanddown who wrote (858)	3/3/2001 11:44:40 AM
From: Edmond Katonica	Read Replies (1) of 23153

Turkey is in a political and financial crisis. The Turkish lira is at 1.2 million to the dollar. The lira has been floated, and is off its peg. Banks are failing, and some are being take over by the government. Any Turk holding lira lost between 30 to 50% overnight. The Turkish military may step in. The makings of a financial panic are there. What this may do to other countries in the region is a question. They need a lot money to hold on, more than the World Bank will provide. If things get worse in Japan, we may see a world wide problem that spreads. I wonder how much of a role this is playing in our down moving market If your interested in speculation try The Turkish Fund NYSE. I think the syb is TKY

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