ITALY
Is Naples on the brink of a new future?
Page 22 →
The Turkish lira hit a new low on Monday after the election win of the president, Recep Tayyip Erdoğan, in a renewed sign of the economic troubles his country is expected to face in the third decade of his rule.
The lira fell against the dollar as Erdoğan pronounced victory. On Monday, investment bank Morgan Stanley predicted that the currency would drop further this year, reaching 26 or even 28 to the dollar more quickly than