By showing concerns that individual banks in the eurozone may have excessive Turkey exposure in their portfolios, the European Central Bank instigated fears of monetary policy normalization being put aside as long as the economic and political crisis continues in Turkey. But "the hope of a normalization of ECB monetary policy had mutated into a long term bet some time ago anyway," the analysts say in a note. Moreover, "even in times of the euro zone crisis the single currency suffered only moderately." - via WSJ