Turkey commting assisted economic suicide?

Jul 2017
123
Europe
Turkey had been a crucial U.S. ally during the Cold war, mostly because of the shared border with the USSR and the Warsaw Pact countries. After the ColdWar ended and Germany unified, Turkey had lost its political and military leverage and became irrelevant to American interests. Turkey is desperately trying to find its place in the new geopolitical relations in the world and regain political and military influence albeit unsuccessfully. Turkey is now on a geopolitical see-saw where she trying to balance between Russia and USA (East and West) and that political adventure has negatively reflected on the Turkish economy that is plummeting with no signs of a speedy recovery in the near future.
 
Aug 2014
4,229
Australia
Two pretty serious developments: 1) Turkey has forbidden short selling of the lira. 2) Turkey has forbidden any financial transaction that isn't conducted in lira.

The result of this is that Erdogan has forced Turkish companies to meet their debt obligations in lira, but their debts are required to be repaid in dollars. At the same time, he has prevented anyone from attacking the lira through short-selling. So expect a severe liquidity crisis in the next few months.
 
Aug 2009
5,217
Londinium
Look at this travesty. What a country we live in.
Perhaps focus on the beautiful landscape that those cheap houses blight; one day those houses will crumble but the land will still be there.

I'm going to Istanbul next weekend, over the May bank holiday. Been putting off this trip for years and finally getting around to it. Can't wait to get my history-fix, if only for a few days :)
 
Mar 2016
750
Antalya
Perhaps focus on the beautiful landscape that those cheap houses blight; one day those houses will crumble but the land will still be there.

I'm going to Istanbul next weekend, over the May bank holiday. Been putting off this trip for years and finally getting around to it. Can't wait to get my history-fix, if only for a few days :)
Good luck. Make sure you get wasted in a proper "Meyhane" in Nevizade and don't let ***wits rip you off. 1 Dollar is 6 Turkish Liras. Ask for a Turkish Lira menu.
 
Likes: Ichon

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