Meanwhile in Turkey
Discussion
Cobnapint said:
Erdogan's bodyguards displaying exactly the same tolerant, free thinking, democratic principles as every other dictator's have done throughout history.
Exporting their blood-lust and penchant for thuggery against dissenters. They (the Islamist AKP devotees) are truly horrible people, I'm surprised Trump didn't block some of them getting visas to enter the USofA.Guvernator said:
Dear oh dear, proof if any where needed that his "bodyguards" are mostly just thugs rather than trained security professionals doing a job. Can you imagine the Secret Service or any other close protection organisation getting involved in this sort of thing? What an absolute farce.
+1The concept of professional isn't in their vocabulary let alone the job description. All hail the sultan.... that is the job spec.
Likes Fast Cars said:
Guvernator said:
Dear oh dear, proof if any where needed that his "bodyguards" are mostly just thugs rather than trained security professionals doing a job. Can you imagine the Secret Service or any other close protection organisation getting involved in this sort of thing? What an absolute farce.
+1The concept of professional isn't in their vocabulary let alone the job description. All hail the sultan.... that is the job spec.
p1stonhead said:
Likes Fast Cars said:
Guvernator said:
Dear oh dear, proof if any where needed that his "bodyguards" are mostly just thugs rather than trained security professionals doing a job. Can you imagine the Secret Service or any other close protection organisation getting involved in this sort of thing? What an absolute farce.
+1The concept of professional isn't in their vocabulary let alone the job description. All hail the sultan.... that is the job spec.
king disgrace.
So the relationship between Turkey and the US continues to deteriorate with the US now having suspended all visa applications and services for Turkish citizens due to the arrest of a US Consular employee who Turkey are accusing of having links with Feto.
http://www.ecfr.eu/article/commentary_turkey_us_re...
The value of the lira has dropped massively to an all time low after this news and despite Erdogan's PR department trying to put a positive spin on things, it looks like Turkey's economy is on very shaky ground. Speaking to friends out there and and also reading some of the economic analysis by the experts, it's really surprising that Turkey isn't in full blown recession already but rumours are that Erdogan is using money from his Middle Eastern allies to falsely prop up the economy although how long he can keep this up for is anyone's guess. Feelings are that if\when it crashes it will crash HARD.
http://www.ecfr.eu/article/commentary_turkey_us_re...
The value of the lira has dropped massively to an all time low after this news and despite Erdogan's PR department trying to put a positive spin on things, it looks like Turkey's economy is on very shaky ground. Speaking to friends out there and and also reading some of the economic analysis by the experts, it's really surprising that Turkey isn't in full blown recession already but rumours are that Erdogan is using money from his Middle Eastern allies to falsely prop up the economy although how long he can keep this up for is anyone's guess. Feelings are that if\when it crashes it will crash HARD.
Things aren’t looking great for Turkey at the moment.
https://www.bbc.co.uk/news/business-45113472
https://www.bloomberg.com/news/articles/2018-08-08...
www.cnbc.com/amp/2018/08/07/turkish-lira-10-year-b...
https://www.bbc.co.uk/news/business-45113472
https://www.bloomberg.com/news/articles/2018-08-08...
www.cnbc.com/amp/2018/08/07/turkish-lira-10-year-b...
Guvernator said:
The value of the lira has dropped massively to an all time low after this news and despite Erdogan's PR department trying to put a positive spin on things, it looks like Turkey's economy is on very shaky ground. Speaking to friends out there and and also reading some of the economic analysis by the experts, it's really surprising that Turkey isn't in full blown recession already but rumours are that Erdogan is using money from his Middle Eastern allies to falsely prop up the economy although how long he can keep this up for is anyone's guess. Feelings are that if\when it crashes it will crash HARD.
It looks like the chickens are coming home to roost, great shout from October 2017!Andy 308GTB said:
It looks like the chickens are coming home to roost, great shout from October 2017!
I'd like to pretend I was really clever but anyone with a modicum of sense could see this coming a mile off. Erdogan's fiscal policy (and I use that term very loosely) is very short term and designed to line his pockets and keep him in power rather than actually help the country. Now you could argue that a lot of politicians are the same but he took it to a whole new level. You can't strip mine and sell off a countries assets to the highest bidder, kill off it's agricultural, livestock and manufacturing capability so you are beholden to foreign exporters, again to line your pockets, buy votes\popularity by using the countries money and expect things to just tick along forever. Eventually you'll run out of money and\or things to sell which is what has happened now.
The recent spat with the US also hasn't helped matters but what it has done has provided Erdogan with a perfect patsy. He is now blaming the US for the countries economic woes and his faithful followers are lapping it up. You really couldn't make it up. He is either incredibly stupid and greedy or a plant put in to deliberately destabilise the country. At the moment I can't decide which.
Yep and Trump does seem to have a real bee in his bonnet about Erdogan. From what little Turkey do export, Trump has just announced a 50% increase on tax from Turkish exports to the US.
Turkish lira has just jumped to over £8, almost double what it was a year ago. This is going to be a painful time for Turkey, there are already talks of bailouts etc except they aren't in the EU so they aren't going to be propped up by anyone else so will have to borrow money on unfavourable terms. This could make what happened in Greece look like a picnic!
Turkish lira has just jumped to over £8, almost double what it was a year ago. This is going to be a painful time for Turkey, there are already talks of bailouts etc except they aren't in the EU so they aren't going to be propped up by anyone else so will have to borrow money on unfavourable terms. This could make what happened in Greece look like a picnic!
Digga said:
Dunno. Whilst things for Turkey look pretty dire, the real damage in Greece was done by the Troika's forced austerity program.
Possibly but what was the alternative? Carry on in the way they have been? You can't expect to spend money like there is no tomorrow while constantly failing to collect taxes. There is a very weird culture in a lot of Mediterranean countries, Turkey included where the population expects the government to provide the very best public services but no one wants to pay for it. Tax avoidance is almost elevated to an art form. It's the reason why countries like Greece, Turkey, Spain, Italy will never be financially stable unless there is a big change in that culture.
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