ranko: absolutely. think of christine class andeaching a crisis management, argentina is taking notes in front. you talk about imf, fiscal stimulus. anna: and still the currency falls. ranko: erdogan is the kid who skipped economic class. you have to ask how valid is that playbook? if we believe higher interest and intervention with the imf will stabilize the currency crisis, we have to believe the peso will eventually stabilize. i don't know if it will be now or in six months time. i know without the credible monetary policy, which is what you lack in turkey, currency will continue to depreciate. strengthening dollar having far more an effect on e.m. fx and what the yuan does from here? ranko: at the moment, it is that impending increasing your oil yields india not -- real yields costing this risk off sentiment in emerging markets, which has benefited from the kerry trades for a long time in does being withdrawn -- and is being withdrawn. in some cases, it looks like an overreaction. anna: ranko berich

meters away from where nordic resistance movement that is gathered there around there is another gather ranko. you can see there are just three things citizens who came here to challenge to. protest. this shouting right now no not so now its streets oh oh oh oh oh oh oh oh oh. why did you gather here today. because we are against this we're against the masses many racists and so. we think this is really really all for this is happening stuck on no they. are about in a closed society but they take the seans in the open society. quite incredible i just had a chance to speak to the leader of the nordic reasons movement and he told us that larry did a great thing for german people. there was definitely a great a very very good person for the german people definitely. here the free germany it's disgusting and he i i would say that i'm almost lacking words cannot be legal to say that the diplomacy going to go i mean that must be cause for the police to intervene or to do that took ninety five percent of my family gas and blood and so we do is go in palm until elections in two weeks a hard time for.

meters away from where nordic resistance movement that is gathered around there is another gather ranko. that you can see there are just great new citizens who came here to challenge to. protest. the shouting right now no not so now it's strange. because you have. oh. why did you gather here today. because we're against this we're against the non-system and racists and so. we think this is really really all for this is happening stuff come out they. about in a closed society but they take they shown. in an open society. quite incredible i just had a chance to speak to the leader of the nordic reasons movement and he told us that he did a great thing for german people. there was definitely a very very good person for the german people that's not for. the free germany it's disgusting and he i i would say that i'm almost lacking words here not beleaguered to say that it looks a good guy i mean that must be cause for the police to intervene or to give it to ninety five percent of my family yes and so we go in palm until elections in two weeks a hard time for any country and as they say here

joining us now is ranko berich, head of market analysis at monex europe. to give in the lira a bit of support, but for us, the issue for the lira is not liquidity in the banking network, it is the stability of it. we know inflation is out of control in turkey. the head of state has been repeatedly over the past former years questioning whether or not high interest rates are appropriate to bring inflation under control. the question is, will the central bank, though the liquidity measures are welcome, do what is necessary to control inflation and restore confidence in the lira. it will take a 5% rate hike, in our opinion. you might look at it and think that a weak lira is a good thing. why is it a concern for those of us not in turkey? the central bank depends on a certain amount of stability in the lira. inflation is the real problem. the predictability of prices and for businesses to do business internationally is being hampered by out—of—control inflation and the resulting lira weakness. it isa and the resulting lira weakness. it is a question of whether