Cyprus-Forum.com

[Kikapu]

Turkey has started importing more Vaseline for the Turkish Lira!

[bill cobbett]

lordo bey... yu bein beeg merchant banka...

if sumone haveeng plentee tergish lires, wat he doing... ???

wat yu say to heem ...???

[kurupetos]

lordo bey... yu bein beeg merchant banka...

if sumone haveeng plentee tergish lires, wat he doing... ???

wat yu say to heem ...???

you say to him... vardestogolosu.

[Kikapu]

When Turkey was saying that by 2023 it will become the 10th largest economy in the world and taking CEBR's predictions at face value (which I don't because the Turkish lira is fundamentally a weak currency against the USD, therefore it will be very hard for Turkey's GDP to climb the world ranking ladder when the index is based on USD), at best according to CEBR, Turkey will become the 14th largest economy in the world in the year 2030. If that isn’t going backwards, then I don't know what is. But even taking the 2019 predictions putting Turkey back at 17th place according to CEBR, that is a backward loss of 5 years from it’s 2013 position if nothing else, so I don't know why Erolz can't accept Turkey's backwards economic trends for the foreseeable future as fact.

My point is you were happy to use the CEBR report 'at face value' when it matched what I suspect you want to believe, that Turkey is going backwards. That it had Turkey going from 17th in 2013 to 19th in 2014, you used this report from the CEBR to declare 'Turkey is going backwards'. Yet the SAME report's predictions place Turkey back at 17th by 2019, 16th by 2024 and 14th by 2030 and you choose to dismiss this on the basis that first they are scared or arrest and now that Turkey has somehow 'bullied' them into saying that. To me going 17th, 19th, 17th, 16th and then 14th is not a trend that is 'going backwards' ? 2023?

I am sorry Kikapu and I really am not trying to be obtuse here but when I see someone take one aspect of a report as evidence of something and dismiss the rest of the same report using the most spurious of reasons, then I suspect that they may well be more interested in reaching a pre determined conclusion rather than an interest in what the evidence of that report suggests. When I see someone take a trend of 17,19,17,16,14 and proclaim that they can not understand how anyone could deny the 'fact' that this is a backwards trend, I end up with pretty much the same suspicion.

My point is you were happy to use the CEBR report 'at face value' when it matched what I suspect you want to believe, that Turkey is going backwards.

Yes of course I can take CEBR's report at face value on something that has already happened and has become fact, that Turkey's position on world GDP ranking has gone from 17th to 19th position in one year from 2013 to 2014, but the future predictions cannot be taken at face value because they are just that, predictions, assumptions, proposals, forecasts, assurances, belief, calculations, confidence, hope, probability, conjecture, likelihood, suppositions, presumptions, looking forward, prospects, outlook, expectations, computations, prognosis, judgments, estimations, reckoning, figuring and premonitions!

Erolz, you are welcome to come back earliest in 2019 and tell me that I was wrong about CEBR's future figures on Turkey's world GDP ranking and continue saying I was wrong all the way to 2030, but not before, because Turkey's main Achilles heel is it's currency, the Turkish Lira when it comes to world GDP rankings that is indexed in USD. Any currency that loses almost 50% of it’s value against the USD in just 3 years and counting, doesn’t stand much of a chance to climb the world GDP ranking very high. In fact, the opposite is expected.

I hate to be the bearer of the bad news to my good friend Erolz, but it was predicted long ago here cyprus35104-430.html. You just didn't want to believe it..

Falling lira threatens Turkey’s G-20 membership

August 20, 2015, Thursday/ 14:28:41/ TODAY'S ZAMAN / ISTANBUL

A shocking fall in the value of the Turkish lira against the US dollar may risk the country's seat in the G-20, the world's 20 major economies by national output, market experts have warned.
The 17th-largest economy of the world in 2013, Turkey slid one spot to 18th last year amid poor growth rates. As the country has been maintaining nothing more than sluggish growth for a long time along with a freefall in its currency, Turkey could be left out of the “Group of 20” bloc at the end of the year.

After achieving high rates for many years, Turkey's economy grew by only 2.9 percent in 2014 based on its domestic currency. The first quarter of this year saw a further drop in growth when GDP increased by a mere 2.3 percent and prompted market analysts to put their year-end forecasts at 3 percent at best.

Recent depreciations in the value of the lira against the greenback, however, have put Turkey in more trouble internationally, with its economy shrinking and thereby facing the risk of relegation from the G-20 in 2016.
In 2013, Turkey's GDP was TL 1.57 trillion, the equivalent of $823 billion at then-dollar/lira parity of 1.904. With the 2.9 percent growth rate, GDP rose to TL 1.75 trillion in 2014 but dropped to $800 billion in the dollar basis since the lira weakened to 2.1875 to the dollar.

According to the most recent data from the first quarter, the nation's total output rose to TL 1.78 trillion, or dropped to $794 billion at then parity. Yet, the country could miss even the $794 billion level by the end of 2015 as the lira has been continuously losing value amid expectations of a rate hike by the US Federal Reserve, violent terrorist attacks and political uncertainty since the June 7 general election, which ended the overwhelming parliamentary majority of 13 years of Justice and Development Party (AK Party) governments.

The Turkish economy lost its position of having the 17th largest economy to the Netherlands in 2014, when the Dutch GDP slightly surpassed the Turks' $800 billion mark. Below Turkey, Saudi Arabia and Switzerland sit at the bottom of the G-20 with $746 billion and $685 billion worth in national income, respectively.

Over the past 12 months, the Turkish lira has depreciated as much as around 30 percent to the US dollar, and reached its historic low of 3.0035 on Thursday morning. If Turkey meets expectations and grows by only 3 percent from TL 1.75 trillion to TL 1.8 trillion at year's end, its dollar equivalent would have dipped to as low as the $600 billion mark should the dollar exchange rate remain at around TL 3. French bank Société Générale analysts Phoenix Kalen and Roxana Hulea speculated on Wednesday that the currency could slump to 3.2088 against the dollar in the coming months.

Turkey chairs the G-20 presidency for 2015 and will host leaders at the yearly summit from Nov. 15-16. Yet, for the time being, the county's agenda seems to be quite far from focusing on the summit, as an early election is likely to coincide with the meeting date.

http://www.todayszaman.com/business_fal ... 97011.html

[Kikapu]

Hey Lordo dude, how does the Turkish Lira depreciating 8% in one week grab you?

Trust me for God’s sake: Minister assures citizens economy stable

Turkish economy Minister Nihat Zeybekci ruled out the possibility of an economic crisis in Turkey, saying his knowledge should be considered a guarantee against any concern.

During his speech at an official ceremony in the western province of Izmir on Friday, Zeybekci dismissed widespread criticism regarding the economic management of the country, saying: “Turkey is a powerful country. [They say] a crisis will emerge if this or that doesn't happen. It doesn't emerge, friends. For God's sake [believe me]; I'm telling you.”

The minister's remarks came a day after the Turkish lira plummeted to its lowest level against the US dollar, losing as much as 8 percent of its value in one week alone.

http://www.todayszaman.com/business_tru ... 97194.html

[Lordo]

shitface your country needs you. i am certain you have plenty of stock and can spare some for your fellow cousins both in terggy and greace. no?

[Kikapu]

shitface your country needs you. i am certain you have plenty of stock and can spare some for your fellow cousins both in terggy and greace. no?

Errr, NO!

Since when did Turkey and Greece became my country????????

[Lordo]

i am only using your gc friends' logic here. they believe that all tcs are terggs. you being a turncoat tc only qualify you as being tergg by the skin of your teeth. and your obsession with the said material is such that you must have stock piled up in your where abouts where ever that may be. so give it up for your compatriots. you know it makes sense.

[Kikapu]

i am only using your gc friends' logic here. they believe that all tcs are terggs. you being a turncoat tc only qualify you as being tergg by the skin of your teeth. and your obsession with the said material is such that you must have stock piled up in your where abouts where ever that may be. so give it up for your compatriots. you know it makes sense.

How can a Cypriot be called a "turncoat" when it comes to wanting True Democracy in Cyprus for ALL Cypriots??

Unlike you, I do not stick my head up Turkey's butt so far that you get a ring around your neck. That's why people like you are called TURKS and not Cypriots.

I'm not a TC who is a Turk by any skin of any teeth. I'm a Cypriot, a TC one at that.

[Kikapu]

Hey, Lordo dude. Here is a report on basic economics for you, as to why the Turkish Lira uses so much Vaseline.

Whatever happened to the Turkish Lira?

Turks are now acting as if it came as a surprise. The Turkish Lira has lost around 9 percent of its value against the dollar in a single month. If you take January of this year as the starting point, the lira has lost around 27 percent of its value. Why?

There are two types of countries in the world: Those where the government determines the value of the currency and those where the markets do it. Turkey is in the second category. We are no Venezuela when it comes to the currency regime, nor are we China. The lira has been fully convertible since the late 1980s and it has been freely floating since the 2001 crisis. This means that it acts as a barometer for market forces, and the government keeps a close watch on its movements.

What happens whenever the authorities do not take the “necessary” measures? The exchange rate adjusts. What happens if the Central Bank is seen as a lame duck and not in a position to raise interest rates when necessary? The exchange rate adjusts. What happens when the investment environment in the country is not conducive? The exchange rate adjusts. What happens when the direction of fund flows changes due to external reasons? The exchange rate adjusts. What happens when the security situation in the country deteriorates? The exchange rate adjusts. What happens when policy uncertainty in the country grows? The exchange rate adjusts. What happens when political uncertainty bubbles up? The exchange rate adjusts. You get the point.

http://www.hurriyetdailynews.com/whatev ... sCatID=403