The lira has lost half its value against the US dollar since Turkey first lurched into crisis in February.

BBC: IMF chief visits troubled Turkey

Looking at how the ruble had fared in comparison to the US dollar, it certainly seemed as if, before the crisis, the ruble moved in very close tandem with the price of oil while this relationship had become substantially weaker ever since.

FORBES: Connect

It was drawn up in the midst of the financial crisis in 2008, following the collapse of US investment bank Lehman Brothers and multi-billion dollar rescue of insurance giant American International Group (AIG).

BBC: Obama outlines $117bn bank levy