{"id":27783,"date":"2025-03-20T17:02:30","date_gmt":"2025-03-20T16:02:30","guid":{"rendered":"https:\/\/michelsanti.fr\/?p=27783"},"modified":"2025-03-20T17:02:30","modified_gmt":"2025-03-20T16:02:30","slug":"turkey","status":"publish","type":"post","link":"https:\/\/michelsanti.fr\/en\/interest-rates\/turkey","title":{"rendered":"The melting of…"},"content":{"rendered":"

\"\"<\/p>\n

 <\/p>\n

The Turkish overnight lending rate urgently raised to\u202646%.
\nThis move aims to contain, as much as possible, the dramatic collapse of the lira (see chart) following the arrest of the Mayor of Istanbul, a serious opponent to President Erdogan.<\/p>\n

Hence the question: Can we still trust the State?<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

  The Turkish overnight lending rate urgently raised to\u202646%. This move aims to contain, as much as possible, the dramatic collapse of the lira (see chart) following the arrest of the Mayor of Istanbul, a serious opponent to President Erdogan. Hence the question: Can we still trust the State?<\/p>\n","protected":false},"author":4,"featured_media":27786,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"give_campaign_id":0,"_crdt_document":"","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"mc4wp_mailchimp_campaign":[],"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false,"jetpack_post_was_ever_published":false},"categories":[648941278,648941926,648941925],"tags":[],"class_list":["post-27783","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-interest-rates","category-turkish-hyperinflation","category-turkish-lira"],"yoast_head":"\nThe melting of... - Michel Santi<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/michelsanti.fr\/en\/interest-rates\/turkey\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The melting of... - Michel Santi\" \/>\n<meta property=\"og:description\" content=\"  The Turkish overnight lending rate urgently raised to\u202646%. This move aims to contain, as much as possible, the dramatic collapse of the lira (see chart) following the arrest of the Mayor of Istanbul, a serious opponent to President Erdogan. 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The recently installed Syrian\u2026","rel":"","context":"In "al Charaa"","block_context":{"text":"al Charaa","link":"https:\/\/michelsanti.fr\/en\/category\/al-charaa"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/01\/Syrie.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/01\/Syrie.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/01\/Syrie.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/01\/Syrie.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":19527,"url":"https:\/\/michelsanti.fr\/en\/ecb-2\/central-banker-extinction-of-the-species","url_meta":{"origin":27783,"position":4},"title":"Central banker: extinction of the species","author":"Michel Santi","date":"July 9, 2019","format":false,"excerpt":"\u00a0 \u201cOf course our central bank is independent\u201d, the Turkish President, Recep Tayyip Erdogan, pretty much just declared, just before dismissing by presidential decree (on 7th July) the boss of Turkey\u2019s central bank, Murat Cetinkaya, stating that \u201ca central bank cannot ignore the signals sent by the President\u201d. It was\u2026","rel":"","context":"In "Christine Lagarde"","block_context":{"text":"Christine Lagarde","link":"https:\/\/michelsanti.fr\/category\/christine-lagarde"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2019\/07\/Lagarde-Draghi-300x200.jpeg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":20341,"url":"https:\/\/michelsanti.fr\/en\/capitalism\/700-years-of-interest-rates-to-predict-the-future","url_meta":{"origin":27783,"position":5},"title":"700 years of interest rates to predict the future","author":"Michel Santi","date":"June 8, 2020","format":false,"excerpt":"The bankers of Florence \u2013 the inventors of modern finance \u2013imposed a two-figure interest rate in return for their loans. The usurer Shylock, in Shakespeare\u2019s The Merchant of Venice, was happy with 8%, whereas this service charge on debt had fallen to around 4% at the start of World War\u2026","rel":"","context":"In "capitalism"","block_context":{"text":"capitalism","link":"https:\/\/michelsanti.fr\/en\/category\/capitalism"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2020\/06\/CgyAm_qW4AALCCn.jpg?fit=600%2C450&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2020\/06\/CgyAm_qW4AALCCn.jpg?fit=600%2C450&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2020\/06\/CgyAm_qW4AALCCn.jpg?fit=600%2C450&ssl=1&resize=525%2C300 1.5x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/27783","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/comments?post=27783"}],"version-history":[{"count":3,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/27783\/revisions"}],"predecessor-version":[{"id":27791,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/27783\/revisions\/27791"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/media\/27786"}],"wp:attachment":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/media?parent=27783"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/categories?post=27783"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/tags?post=27783"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}