Deutsche Bank AG (DB): https://www.google.co.uk/amp/amp.timeinc...

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Monday, 08/13/2018 10:21:17 AM

Monday, August 13, 2018 10:21:17 AM

https://www.google.co.uk/amp/amp.timeinc.net/fortune/2018/08/13/turkey-lira-to-usd-currency-collapse

Great article on the Turkish Lira drop, and it’s ripple effects.

Two Paragraphs... (Note DB not even mentioned, but still got hit anyway)

And then there are the European banks that have lent to Turkish businesses, big-time. These include Spain’s BBVA, Italy’s UniCredit and France’s BNP Paribas. Those debts are largely denominated in dollars and euros, and are therefore harder to pay with a weakening lira, so shares in these banks are all down.

The European Central Bank is worried about those banks’ exposure to Turkey, and the euro is also now slightly down against the dollar, due to contagion fears.

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