One euro is now worth 11.90 liras. Erdogan is a financial genius. *edit well, its been an hour. It is now at an even 12 liras per Euro.
Now, Erdogan has the choice of accepting to lose power or suspending elections indefinitely. I don’t think there is any way he can turn around the economy.
It the best time to buy apartments in Turkey, I wish I had money:(
Maybe he should invade a few more countries to help the economy.
How long until Turkey turns into Venezuela? My guess is no longer than 2-3 years
Just look how Putin “solved” economical issues of Russia. With more aggresion …
Cheaper currency makes Turkish goods cheaper to produce, and stimulates exports while stifling internal consumption of imported goods. China was doing that thru currency manipulation, all while Turkey gets it “organically”
How are people in Turkey protecting their wealth? Stocks/foreign currency/gold/crypto, what is the mix like?
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One euro is now worth 11.90 liras. Erdogan is a financial genius. *edit well, its been an hour. It is now at an even 12 liras per Euro.
Now, Erdogan has the choice of accepting to lose power or suspending elections indefinitely. I don’t think there is any way he can turn around the economy.
It the best time to buy apartments in Turkey, I wish I had money:(
Maybe he should invade a few more countries to help the economy.
How long until Turkey turns into Venezuela? My guess is no longer than 2-3 years
Just look how Putin “solved” economical issues of Russia. With more aggresion …
Cheaper currency makes Turkish goods cheaper to produce, and stimulates exports while stifling internal consumption of imported goods. China was doing that thru currency manipulation, all while Turkey gets it “organically”
How are people in Turkey protecting their wealth? Stocks/foreign currency/gold/crypto, what is the mix like?
Who needs money when you have Allah?!
In March 2021, and many times before, Erdogan urged Turks to sell their foreign exchange assets and gold and buy lira-based financial instruments: https://www.cnbc.com/2021/03/24/erdogan-calls-on-turks-to-support-lira-investors-fear-monetary-crisis.html
His supporters must be very happy, I suppose…
In all advanced economies, the central bank is independent for a very simple reason: politicians don’t know anything about monetary matters.
Some Turks used to say they voted for Erdogan for his economic gains…