Turkey is taking the necessary measures in response to a slide in the lira (Turkey’s currency) and was beginning to see actual results from these steps Erdogan said in a speech at a military graduation ceremony.

There’s no need to be a genius to see those behind the volatility in exchange rates, it is an operation against Turkey, Turkish President Recep Tayyip Erdogan said.

The Turkish government and central bank are taking steps to sustain the country’s currency, because the continuing diplomatic standoff with the US has damaged investor sentiment and encouraged capital outflows from the country.

 

Source: Sputnik

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Stern Daler

The decline of the Lira is a normal result of the high Turkish inflation.

Turkey has a negative foreign business balance and also needs fresh capital to sustain the economic growth. During the boom time when foreign capital flowed in the problem was covered up. When sentiment is low there is no fresh capital influx and the inflation shows in the exchange rate’s decline.

Daeshbags-Sux
Guest
Daeshbags-Sux

ROFL! This idiot took gigantic loans with usury interest rates from non-regular banks since others refused, ‘coz serious analysts said Turkey will never be able to repay. If normal state loans from the IMF have 3.5% interest rates, the interest rate in Turkey is now 18.75% while the money injected only allowed a 7.3% growth. The only reason for Lira plunge is Erdogan follies and now he’s coming with ridiculous conspiracy theories to discharge himself from his own responsibilities! What a creep. I suppose that he’s in a hurry to get S-400 in order to attempt creating a no fly… Read more »

n.md.148
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n.md.148

it is a zionist attack on those who do not sell their souls to the devil

Bob
Guest
Bob

It’s the economy, idi-ot. Following your so called “reasoning”, it seems that the devil is more proficient than god, at least with regards to economics. Do yourself a favor: study.

Daeshbags-Sux
Guest
Daeshbags-Sux

Ridiculous! n.md.148, go to school! Erdogan had totally megalomaniac building projects, patterning himself on Hitler’s mega projects. Problem : Turkish economy was too weak to get normal interests rate, so he signed in very likely with Chinese usury “banks” to inject about half a trillion $ in Turkish economy, maybe far more… But, if this money achieved a 7.3% growth, Turkish businesses have to lease money with 18.75% interest rates. Such mugs game couldn’t last for long, just like you have low earnings and take a revolving credit : you buy a house, nice cars and everything and rapidly, you… Read more »

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Stern Daler

Not from the outside – it is from inflation which is a “biblical” plague that the LORD sends to the lands of evil rulers who have transgressed HIS words.