Yes, you're right. Too little, too late comes to mind.
Its falling again this morning, against all major currencies. I hate to agree with the wee fella, but I reckon some currency traders smell blood and may see opportunities to make a lot of money off a weakening lira. However, they're not doing it because its Turkey, they're doing simply to make money.
Just going back to Şimşek for a sec, he's always struck me as being a smart guy working within a government that very often doesn't let the smart guys do what they do best. Unfortunately, the markets are all spooked by the possibility of the wee fella being more hands on, they know he's a bit of a nugget when it comes to the economy. So it doesn't matter who ends up in charge of finance and the economy in the cabinet, it looks like he'll always have the final say. Not good.
Here's hoping we don't end up back where we started in a day or so, although there are some casual visitors to Turkey who will no doubt be rubbing their hands at all the extra liras to their pounds.
JF