Lira drops.

Kathimerini English - - Focus -

of 2.8 bil­lion eu­ros, has a net­work of 147 branches in Ro­ma­nia, which is one of Eurobank’s big­gest mar­kets out­side Greece. “Our tar­get is for the whole process to con­clude in a year from now,” the source said, without pro­vid­ing fur­ther de­tails of what sort of deal was be­ing con­sid­ered. Eurobank, Greece’s third largest lender by as­sets, is also present in Bul­garia, Ser­bia and Cyprus.

Turkey’s lira weak­ened yes­ter­day as com­ments from a deputy pre­mier reaf­firm­ing the cen­tral bank’s in­de­pen­dence failed to bol­ster con­fi­dence,ahead of to­day’s pol­icy meet­ing seen as a big cred­i­bil­ity test in the face of a tum­bling cur­rency. The lira has fallen some 8 per­cent so far this year, on top of dou­ble-digit de­clines in both 2015 and 2016. In­vestors have been shaken by the fall­out from last year’s failed mil­i­tary coup and wor­ries the cen­tral bank is less than in­de­pen­dent. “The cen­tral bank is an in­de­pen­dent in­sti­tu­tion. There are many in­stru­ments the cen­tral bank can use,” Deputy Prime Min­is­ter Nu­man Kur­tul­mus told a news con­fer­ence in Ankara. “We, as the gov­ern­ment, can voice our views within the frame­work of our own main pol­icy and wait for the cen­tral bank’s de­ci­sion. We are also await­ing the de­ci­sion it will make” to­day.

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