The events overtaking Argentina and Turkey in recent months are textbook cases of an emerging market crisis. This article reviews the build-up, the break-down, the responses and who else is at risk.
Emerging Markets
Emerging Market Debt: Dumb, Dumber and Dumbest
One of the classic signs that the credit cycle is nearing the end is that borrowers that shouldn’t be getting financed not only get funded, but get it at terms that seem crazy.