Turkey commting assisted economic suicide?

Willempie

Ad Honorem
Jul 2015
5,580
Netherlands
Isn't it more because the law itself already said in pretty crystal clear terms that you can't break off from Spain? So far Turkey's law does not say you can't vote for anyone other than Erdogan.
Not going to re-enter that debate, but no it doesn't. And it is also the reason why Spain dropped the extradition requests for Puidgemont for rebellion.
 

Dan Howard

Ad Honorem
Aug 2014
5,018
Australia
Now that's just creepy. Erdogan suffers a minor electoral defeat and the election is almost immediately declared illegal to be replaced by an outcome more to the liking of the sultan.
To be fair to Erdogan, he seemed resigned to the fact that he had lost Istanbul but Devlet Bahceli, head of the MHP (currently allied with Erdogan's party) kicked up a fuss. The really scary part is that Bahceli is supposed to be an economist.
 
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Fox

Ad Honorem
Oct 2011
3,937
Korea
Isn't it more because the law itself already said in pretty crystal clear terms that you can't break off from Spain? So far Turkey's law does not say you can't vote for anyone other than Erdogan.
Even if the Spanish Constitution, as it stands, bars secession itself, it does not follow that a referendum on secession ought to be illegal. After all, such a referendum could form the basis for a national discussion on constitutional amendment if nothing else, since it would make little sense to have such a discussion before a clear will to secede was established. It should further be noted that Erdogan also leaned on legal technicalities in framing the election in question as illegitimate, making the parallels even stronger. If anything, the Spanish government's reaction to that referendum was arguably more egregious, not less.
 

Dan Howard

Ad Honorem
Aug 2014
5,018
Australia


According to this, Turkey is going to have a lot of trouble meeting its debt obligations. Specifically, the 82 billion in FX-denominated maturing debt that is due later this year. Right now it can meet this obligation if it sells all of its foreign currency reserves and some of its gold reserves but it won't be sufficient if the Lira keeps sliding because it will be forced to spend foreign currency to prop up the Lira.
 
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Dan Howard

Ad Honorem
Aug 2014
5,018
Australia
There is only one way to get inflation and the currency under control and that is to raise interest rates. So what do Erdogan's lackeys do? They cut them by rolling back their previous tightening of monetary policy. There is only one way the Lira can go now. Looks like Turkey is going to be the next Venezuela. The next step will be a confiscation of private foreign exchange holdings. If you have any, unload them now. Buy gold or US currency and hide it. It might be an idea to stock up on bulk non-perishable staples - flour, rice, sugar, etc. With the current rate of inflation, these will hold their value more than cash in the bank.
 
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Mar 2016
819
Eindhoven
Raising the interest rates is a shor-term solution. It will not control the inflation in an economy dependent on US Dollars. What needs to be done is solving the problems that bars the flow of Dollar to the country. In short, the reasons are lack of "rule of law", and stability. These things are in direct conflict with Erdogan's interest. In other words, Turkish economy can thrive, only if Erdogan does not get to be "the man". Furthermore, widespread corruption and broken agricultural sector doesn't help too. Turkey would not need foreign investors, if she had something to sell and these days, it's tech stuff that makes the most money. We do not have that, and we do not have a stable country which rule of law is employed; we are not going to get dollars and dollar is always going to be expensive.
 
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royal744

Ad Honoris
Jul 2013
10,756
San Antonio, Tx
Assuming that so called corruption, plus myriad other misdeeds, malfeasances, power abuses etc. etc. etc. do not exist in the Trump regime.

And my best guess is that Donald is doing his darndest best to destroy the building up of momentum toward regime change in Washington.
The next US presidential election is going to be very interesting. Now that most Americans have figured out that the president is incompetent, we’ll just have to wait and see.
 

royal744

Ad Honoris
Jul 2013
10,756
San Antonio, Tx
If you had someone you cud trust, and you hv enough confidence about him really knowing what he is doing, why not. Other than the risks of rivals & adversaries using it for allegations of nepotism etc., that he happens to be closely related to you shud not matter all that much. That is why Jared is now senior adviser to Donald. It isn't becos he is a son in law, but becos he has the relevant competency & expertise for it.
You have got to be kidding. Jared Kushner knows NOTHING about anything. He is the poster boy for why it is incredibly stupid to hire family members to run a government. Good lord, get a grip.