Two economists have used the biblical term in a new way
unrelated to apples or snakes: to describe the inability of
most countries to borrow abroad in their own currency, instead
having to borrow in foreign currencies.
Turkey is the most recent example of this situation, as the
country owes hundreds of millions in dollar-denominated debt,
ultimately making it harder to repay it. Fluctuations in the
exchange rate between the US dollar and the Turkish lira mean
that the country is finding it increasing...