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Content:
2 Top Stories
7 The Regions This Week 10 Chart
12 Central Europe
14 Southeast Europe
16 Eastern Europe 19 Eurasia
21 Opinion
23 Lists24 Lists
May 25, 2018 www.intellinews.com
Turkish lira turbulence returns despite emergency hike
Will Conroy in Prague
The Turkish lira (TRY) weakened more than 4% on May 24 as the previous day’s emergency interest rate hike of 300 basis points (bp) began to look like little more than a temporary fix for Turkey’s bruised and battered currency.
The TRY had sunk to 4.7867 to the dollar by 18:20 Istanbul time having started the day on
Gazprom escapes EU fine in antitrust probe over market position in CEE
Wojciech Kosc in Warsaw
Russian gas giant Gazprom will not be fined for abusing its market dominance in Central and East- ern Europe but will have to comply with EU rules ensuring a more competitive gas market in the re- gion, the European Commission said on May 24 in a settlement decision ending a seven-year probe.
Erdogan is seen as having surrendered to the markets with the emergency rate hike, but if re-elected will he keep his hands off the monetary policy steering wheel?
4.5791 following the long-awaited central bank tightening that was brought in on May 23 with the currency headed for five-to-the-dollar: the regulator sat up when it got as far as 4.9294 in overnight Asian markets trading after Japanese traders gave up on their long lira positions.
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The decision will come as a disappointment in a number of CEE member states of the European Union, which had lobbied for the Commission to fine Gazprom for what they said – and the Com-
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