Eaton Vance's Gaffney Says Turkey Is Running Out of Options

The video discusses Turkey's economic crisis, focusing on its lack of credibility and limited options for recovery. It explores the potential systemic risks to the financial system, particularly in Europe, and the role of central banks like the ECB and Federal Reserve. The discussion also covers the impact on emerging markets and the potential for contagion, emphasizing the need for quick action to stabilize the situation.

What role do you think the ECB should play in addressing the economic challenges faced by Turkey?

What does the term 'idiosyncratic' mean in the context of emerging market issues, and how does it apply to Turkey?

How does the current situation in Turkey compare to past financial crises, such as the Asian crisis?