It's "common sense" to assume the crisis will calm, said Christopher Granville, managing director of global political research at TS Lombard in London. "If you look at Erdogan's track record, he does tend to back down in the end, although it takes time," he told CNBC's "Squawk Box Europe" Monday. But even the resolution of political tensions with the U.S. wouldn't solve Turkey's problem on its own from an investor point of view, "though of course it would help on the margin," Granville added. "Some political resolution is likely but that's not very helpful advice for investors," he said. "Because that takes a long time, which Turkish markets don't have."
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