Turkish Lira dropped more: country at the verge of recession

Turkish Lira has witnessed a fall of 20% last week and it has created a disturbance in the global markets. EU banks are under immense pressure with concern over the lender's exposure to Turkey while Turkish govt has denied raising interest rates in order to ease the crisis. President Recep Tayyip Erdogan lashed out at the US while the economists are worried that the country can dive into recession if lira falls even more.