Source: International Business Times
Chaos after Istanbul mayor Ekrem Imamoglu's arrest has battered the Turkish lira AFP The arrest of Turkish President Recep Tayyip Erdogan's leading political opponent has sparked a financial firestorm and thrust the hardline leader's economic policies under scrutiny. The stock market has plunged, the lira has plummeted and economists warn the ensuing panic will drive Turkey's sharp inflation rate back up just as it had started to rein it in. The arrest of Istanbul's mayor Ekrem Imamoglu on March 19 in a graft and terror probe sparked fierce street clashes that have since seen more than 1,000 others detained.
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