When central banks face sanctions

THINK OF A central bank in dire straits, and Turkey’s might come to mind. Recep Tayyip Erdogan, the president, has sacked three of its bosses in three years in pursuit of his wacky economic ideas, one result of which is inflation of 60%. Or Lebanon, where the central bank orchestrated a scheme to funnel bank deposits to the government. Riad Salameh, its long-standing governor, faces charges of corruption and money-laundering, and is reportedly in hiding.