“It's got so many red flags that we've associated with economic crises-in the past.” In such a crisis, a sharp slide in a currency threatens the government and local companies' ability to pay foreign debt.
Just a Start Al-Monitor reports Erdogan Son-in-Law Takes Finance Ministry Post with Promises, Hush Orders Just when you thought he couldn't get any more audacious, Turkey's President Recep Tayyip Erdogan put his son-in-law in charge of the country's finances and issued new decrees that will radically reshape the way the country is run within hours of being sworn in on July 9 for a second term.
An emergency decree scrapping a five-year term limit on the Central Bank governor issued prior to Erdogan's inauguration had already signaled his determination to continue to meddle in the bank's affairs.
One of Albayrak's first moves, was apparently to secure the censoring of several tweets by Turkish journalist Pelin Unker of the opposition daily Cumhuriyet.
Venezuela: To fight poverty, presidents Hugo Chávez and Nicolás Maduro took over the oil industry and gave cheap gasoline to the people.