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EU; that's gotta hurt. Turkey unhappy.

Benefits and problems from the EU membership.

Re: EU; that's gotta hurt. Turkey unhappy.

Postby Cap » Sat Jun 15, 2019 3:24 pm

If turkey sneezes, the north catches pneumonia.


:lol: :lol: :lol:
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Re: EU; that's gotta hurt. Turkey unhappy.

Postby Cap » Sat Jun 15, 2019 3:40 pm

I hope he (Erdocunt) continues along this path, only such a destruction of Turkey can strengthen our case.


I was thinking the same thing.
Clearly The Mad Man of Anatolia is unpopular with everyone in the Middle East and the West.
We need this lunatic to change the status quo.
The crazier he gets, the stronger our case..

A prominent US politician commented about the United States and Israeli foreign policy concerning Cyprus. (Can't remember his name, it was political interview)
He said, more or less about the US and Israel.
They're like a massive, heavy ship on course in the ocean.
It takes a very long time to turn that massive ship around and alter course.
But once it starts turning around there's no going back.
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Re: EU; that's gotta hurt. Turkey unhappy.

Postby Maximus » Sat Jun 15, 2019 3:53 pm

This is a great article for anyone who wants to learn about the current state of the Turkish economy.

It is a slightly lengthy read because the authors go in to great detail.

By the time you finish reading it, you will understand what the AKP inherited when they came to power and what they have turned the Turkish economy in to today.

https://jacobinmag.com/2019/03/erdogan- ... -elections

The AKP created a veneer of prosperity for some time through a credit bubble. To help them stay in and shore up power. However, now, people are literally hungry, unemployment is mushrooming and inflation is running in the 20's to 30% for the basics of life. At this rate , their cost of living will double every 3 to 5 years and real wages are not moving in line with it. Actually, less people are working.

The lira is losing value at an average rate of 30% per year too. This is a disaster for an economy that is reliant on imports and capital inflows to help with short term financing.

Soon, a fight will break out about who is going to pay for it all.

The intention and spirit of capital could not have been better expressed than by the chair of the Union of Chambers and Commodity Exchanges of Turkey, who said: “Our economy is intertwined like a cobweb. The debt of the private sector has now become the debt of 81 million people [the whole population].”


They were gloating when Greece and Cyprus had to face austerity and an imposed haircut but the reality is - Turks will have to face something 10x worse.

It might just take the US sanctions and the EU's 'appropriate measures' to blow Turkey over like a house of cards.

it does not seem that there is any turning back from the brink, they will have to face reality sooner or later, with or without Erdogan.
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Re: EU; that's gotta hurt. Turkey unhappy.

Postby Kikapu » Sat Jun 15, 2019 4:47 pm

This has been going on for long time as a practice, but when Turks take a holiday, they pay for it in instalments over 12 months. It is the only way they can afford it, which means, the population is in constant debt.
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Re: EU; that's gotta hurt. Turkey unhappy.

Postby Maximus » Sat Jun 15, 2019 7:23 pm

The private sector were doing the same thing but now the debts will be socialized and everyone will pay.

Only severe austerity spanning the lifetime of generations and a complete reform of domestic and foreign policy will help it recover.

This might mean a complete restructure or the breakup of the country.
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Re: EU; that's gotta hurt. Turkey unhappy.

Postby Kikapu » Sat Jun 15, 2019 9:06 pm

And by the way, most workers in Turkey who are not civil servants work 6 days a week 10 hours a day and receive only two weeks UNPAID vacation, vacation to be taken only one week at a time.
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Re: EU; that's gotta hurt. Turkey unhappy.

Postby Maximus » Sat Jun 15, 2019 11:19 pm

Moody’s cut turkeys credit rating on Friday, maintaining a negative outlook.

Saying the risk of government default is high.

Turkey is now officially non investment grade according to Moody’s.

The Turkish finance ministers response was that Moody’s decision to downgrade turkey conflicts with the positive economic indicators. And the agency is not neutral.
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Re: EU; that's gotta hurt. Turkey unhappy.

Postby Paphitis » Sun Jun 16, 2019 6:23 am

B25 wrote:Its just hot political air RW, don't raise any hopes on this. If the EU really meant business they would have already cancelled Turkeys Application and imposed economic sanctions like they did to the Russians. They are just pure hypocrites.

The property issue is deliberate, because they don't really have the balls to do anything about it and want to keep the GCs under the thumb.

The EU needs to be disbanded, since we joined we have nothing but gypsies and refugees come to our shores.


I agree! The EU is the biggest fraud in human history.

Down with these criminals already! :roll:

The Americans already have the Turks in their scopes but the EU Turkophiles are just traitors now.
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Re: EU; that's gotta hurt. Turkey unhappy.

Postby Kikapu » Sun Jun 16, 2019 11:40 am

I can understand Erdogan wants to punish if few Bloomberg financial staff caused the huge fluctuations in the Turkish Lira last year by 40% into depreciation, but such actions can only last for a day or two before the TL goes back to where it was before the fluctuation. Almost a year later, the TL only recovered very slightly from lasts year’s lows, so obviously, it’s the market stupid that has brought the TL down and not few guys with their calculators. :roll:
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Re: EU; that's gotta hurt. Turkey unhappy.

Postby Lordo » Sun Jun 16, 2019 12:11 pm

last i read we had food banks on baf where people who could not afford to buy food can have it for free. at the same time we have griiks who give food to the people who cannot afford it in grrrrik lands but only to griiks others should starve to death.

let those with no sin cast the first stome is christian i think.

you asslick assholes get life and let the terggs sort their own problems out but mindful that if you srep out of line regarding rights of tcs in kibris there will be hell to pay and 1974 will be like a tea-party.
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