markets

Turkish Credit Risk Overtakes Greece’s as Drama Unfolds

Turkish Credit Risk Overtakes Greece’s as Drama Unfolds

Erdogan's Defiant Stance Sends Lira Tumbling Says Saxo Bank's Hardy

The cost of insuring against a debt default in Turkey overtook that of Greece, which is rated four notches lower by Moody’s Investor Service. The lira has slumped against the dollar to record lows this week, fueled by concern about the nation’s worsening relationship with the U.S. and authorities’ ability to anchor the nation’s assets.