Cyprus-Forum.com

[CBBB]

Ok lets test how much you claim you know why did he cut rates and allow the TL to fall which has now slowed down?

I'll give you the short version, since I don't have the time for the long version and also you will not understand it even if i did, so what's the point.

The intent was to reduce "Hot Money" coming in from outside, which has increased the debts held by the Turks with their ongoing buying frenzy of foreign goods, which has caused the Imports to rise twice as much as Exports, which has created a huge Foreign Trade Deficits. The idea was to discourage foreign "Hot Money", which Erdogan was recently asking the Turks not to spend too much money they did not have. Personally the Turks are hungry for foreign quality goods, therefore they will continue to buy and get further in debt and the Imports will continue to rise and so will the Foreign Trade Deficit, and the further the TL goes down against other major currencies, the greater the FTD will increase, regardless if Turkey's Exports also rise some as a result of the devalued TL. This will also cause higher inflation. While Turkey is importing quality products at higher price, their Exports at lower price will always create a huge differences in the Import-Export exchange, hence the continual FTD, which at some point will worsen the TL more than it already is. By cutting the rates, Erdogan thought he can solve the FTD problem without knowing he was going to make things worse by the TL going down, which the ISE reacted immediately, since it will also effect growth in Turkey.

I believe Turkey is now on a slippery slope heading "south" as far as her economy, currency and the stock market goes. You won't be hearing from Erdogan telling the world what great GDP results they have achieved for a long time to come from now on, or that the EU needs Turkey more than Turkey needs the EU !

PS. The above was dictated to me by my dog.

any chance of a translation into English, oh and is your dog as Greek as you are ?

Oh, look people, Kuntish is back!

How can I make it any simpler than the above explanation, when idiots like you still can't distinguish the differences between Greeks in Greece from the Greek Cypriots /Turkish Cypriots in Cyprus?

You can now crawl back into your den !

oh my, how clever greek boy,you changed one letter of my name and shunted a huge unexpected insult at me.

I thought that was your name, but you couldn't spell.

[Pyrpolizer]

Oh, look people, Kuntish is back!

How can I make it any simpler than the above explanation, when idiots like you still can't distinguish the differences between Greeks in Greece from the Greek Cypriots /Turkish Cypriots in Cyprus?

You can now crawl back into your den !

oh my, how clever greek boy,you changed one letter of my name and shunted a huge unexpected insult at me.

And now even your dog will laugh at you

[Pyrpolizer]

Oh, look people, Kuntish is back!

How can I make it any simpler than the above explanation, when idiots like you still can't distinguish the differences between Greeks in Greece from the Greek Cypriots /Turkish Cypriots in Cyprus?

You can now crawl back into your den !

oh my, how clever greek boy,you changed one letter of my name and shunted a huge unexpected insult at me.

This guy suggests that it's impossible for Kikapu (or any other person) to be a Kibrisli if he is so clever. He must be GREEK!!

[Kikapu]

Here are two other charts which shown what Turkey's problems are

Chart.png

Chart1.png

About 12.5% in about 3 months on the dollar.

This probably represents what the world thinks of the Turkish Economy.

Only the carpet b*ggers might get some short term joy as the Lira falls in value so they got more for their pounds but inevitably there will be inflation so prices will rise and the benfits will go: this will particularly apply to imported goods, both in Turkey and the occupied area, and both raw materials and finished items.

Turkish Lira's direct percentage losses against major currencies over the last 12 months to August 5th 2011.

TL down 22% against the Euro for the last 12 months

TL down 37% against the Swiss Franc for the last 12 months

TL down 12% against the US Dollar for the last 12 months

TL down 17% against the British Pound for the last 12 months

[kentish]

keep cut and pasting greek boy ,i can see it keeps you happy and allows others a hive of useful information

[supporttheunderdog]

keep cut and pasting greek boy ,i can see it keeps you happy and allows others a hive of useful information

I have just looked at the great days of the early 90's when the old Lira went from about 23000 / £ to 48000 / £ in about four months or 2001 when it passed the million mark and the two million mark....are we about to see the same? Will we see a flight to foreign currency once again as Turkish investors avoid the Lira?

[Viewpoint]

With 9% return on your money investment continues.

[CBBB]

With 9% return on your money investment continues.

Depends on inflation!

[Kikapu]

With 9% return on your money investment continues.

VP, the "great" economist.

While the TL is/was paying 9% (actually less) for the last 12 months, it lost;

a) 22% against the Euro, plus additional 6% for inflation for a grand total of = 28%

b) 37% against the Swiss Franc, plus additional 6% for inflation for a grand total of = 43%

c) 12% against the US Dollar, plus additional 6% for inflation for a grand total of = 18%

d) 17% against the British Pound, plus additional 6% for inflation for a grand total of = 23%

VP, the "great" economist.

PS, My dog says, Hi!

[Viewpoint]

With 9% return on your money investment continues.

VP, the "great" economist.

While the TL is/was paying 9% (actually less) for the last 12 months, it lost;

a) 22% against the Euro, plus additional 6% for inflation for a grand total of = 28%

b) 37% against the Swiss Franc, plus additional 6% for inflation for a grand total of = 43%

c) 12% against the US Dollar, plus additional 6% for inflation for a grand total of = 18%

d) 17% against the British Pound, plus additional 6% for inflation for a grand total of = 23%

VP, the "great" economist.

PS, My dog says, Hi!

havent you put that mut out of its misery yet?

Can you also confirm the performance of the Turkish Lira in terms of return on investment in comparison to other currencies for the years 2002 to 2010