Turkey's Best Solution Is Capital Controls, Says Commerzbank's Nguyen

The video discusses the challenges faced by the Turkish Central Bank in supporting the lira amidst a credibility crisis. It highlights the skepticism around interest rate hikes as a solution, drawing parallels with the EMS crisis where similar measures failed to stabilize the Swedish krona. The speaker suggests that capital controls might be a more effective approach to contain the current crisis.

In what way does the current situation of the Turkish crisis resemble the past EMS crisis?

What alternative solution is suggested to contain the Turkish crisis?