The crisis in Turkey opens up new opportunities for tourists and hurting Australia

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The crisis in Turkey opens up new opportunities for tourists and hurting Australia

The Turkish Lira continued its free fall. Key financial indicators becomes critical. Investors and analysts convinced of the idea that the crisis can “infect” other world economy.

The currency fell more than 40% against the U.S. dollar this year, and relations between Ankara and Washington were irreparably damaged. In Europe, fear that the Turkish companies which have borrowed foreign currency in major banks such as BBVA of Spain, UniCredit of Italy or France’s BNP Paribas may face problems in payments in euros or dollars, or will default on these loans.

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