Money talks: A coup de grâce for the Turkish economy?
Money Talks from The Economist
The Economist
4.4 • 1.2K Ratings
🗓️ 19 July 2016
⏱️ 13 minutes
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| 0:00.0 | This is a passenger announcement. You can now book your train on Uber and get 10% back in credits to spend on Uber eats. |
| 0:11.0 | So you can order your own fries instead of eating everyone else's. |
| 0:15.0 | Trains, now on Uber. T's and C's apply. Check the Uber app. |
| 0:29.4 | Hello, I'm Edward McBride, finance editor of The Economist, and this is Money Talks. This week we'll be talking to Simon Rubinovich about the economics of coups after a tumultuous week in Turkey. |
| 0:35.2 | The sun has estimated that is as much as a 2% decline in income per capita every year after the coup for well over a decade. |
| 0:45.7 | And we'll be looking into what's causing turmoil in African banks. |
| 0:49.5 | There's really almost no transparency. |
| 0:51.6 | No one quite knows what those banks are getting up to. |
| 0:53.8 | I mean that is synonymous with a crisis. |
| 0:58.1 | We're now joined by Jonathan Rosenthal who's been looking at growing concerns about African banking. |
| 1:04.0 | Africa's banks have been placed under too much stress by the commodity crisis. |
| 1:08.0 | Oil-rich countries like Nigeria and Angola are seeing the economic ramifications of collapsing oil prices which have exposed weaknesses |
| 1:16.2 | in their banking systems. |
| 1:18.2 | Jonathan, first of all, how big a crisis are we talking about? |
| 1:21.6 | Well, that's the first thing that really |
| 1:23.4 | interested me and it's a question that I took to Alan Cameron he's an |
| 1:26.6 | economist at Exotics which is an investment bank that specializes in frontier |
| 1:30.7 | markets. I'm Alan Cameron and I'm an economist with Exotics focused on Africa. |
| 1:35.0 | Alan was one of the first prominent voices on African banking to call out Nigeria as being in a banking crisis. |
| 1:41.0 | Now that's something the Nigerians themselves have been denying and continue to deny. So I asked him what's going on there. |
| 1:47.0 | Well I think if you look at the sector, the biggest bank, the first Bank of Nigeria is showing us NPL that are about 18% as the last |
| 1:56.1 | results that they have reported. |
... |
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