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Népszabadság - Hungary | Saturday, February 1, 2014

Turkish lira drags down forint

The Hungarian currency, the forint, has seen its value plunge in recent weeks. The left-liberal daily Népszabadság points out that this is connected to the dramatic drop of the Turkish lira: "The financial markets function pretty mechanically: all emerging nations are grouped together. If there's a problem in one of these countries, all of them suffer. ... The markets are very sensitive to politics. The decline in value of the Hungarian forint was preceded by that of the Turkish lira as a result of domestic developments in Turkey. ... The reason for the lira's nosedive is that Prime Minister Recep Tayyip Erdoğan is currently leading a crusade against the independent judiciary in Turkey. But whenever the rule of law is in danger, international investors also keep their distance."

» To the complete press review of Monday, February 3, 2014

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