Money talks: Crumbling currencies
Money Talks from The Economist
The Economist
4.4 • 1.2K Ratings
🗓️ 4 September 2018
⏱️ 20 minutes
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| 0:00.0 | May I have your attention please you can now book your train tickets on Uber and get |
| 0:08.0 | 10% back in credits to spend on your next Uber ride so you don't have to walk home in the brain again. |
| 0:16.5 | Trains now on Uber. T's and of the Economist. Welcome to Money Talks. |
| 0:30.0 | Coming up on the programme. Britain's peer-to-peer lender funding circle is |
| 0:35.1 | going public. We hear from the CEO and co-founder. Financial services |
| 0:39.4 | businesses uniquely are really about trust and you know being a public company we believe will |
| 0:46.8 | increase trust in our platform. In just 10 years smartphones have risen to be large parts of several countries economies. |
| 0:55.4 | What happens when people stop buying new ones? |
| 0:57.6 | This is a system that were a big trade dispute or problem to emerge is actually quite fragile and that's something |
| 1:05.2 | to worry about and I think also probably something all of the companies involved are wrestling |
| 1:09.0 | with and thinking about. |
| 1:13.0 | First we turn to Argentina, which is in the full throes of a currency crisis. |
| 1:18.0 | Its peso has lost roughly half its value this year. |
| 1:20.0 | That pushes up inflation. |
| 1:22.0 | It means that the country has had to raise interest rates, |
| 1:24.4 | that makes it harder for it to repay its debts, all in all a really nasty situation for the government. |
| 1:29.4 | Mauricio Macri, the president, has turned to the IMF, which had already arranged a bailout |
| 1:34.4 | and asked it to give Argentina money faster. |
| 1:37.5 | Simon Cox, our emerging markets editor, is on the line from Hong Kong. |
| 1:41.1 | Simon, it's a job that you have to be used to crises coming |
| 1:44.0 | along every now and then and right now Argentina and Turkey are rivaling |
| 1:47.5 | each other for the bigger crisis. Who's ahead at the moment in that race? |
... |
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