Cyprus-Forum.com

[EPSILON]

So you trust those who probably got Turkey into this mess to get Turkey out of it?

I trust them too.

Rome was not built in a day and Turkeys economy did not start with the current government.

Your Ottoman alliance is so easily exposed.

Ottoman?? those days are over and history we are in a strong alliance with Turkey, in fact our only real ally unlike GCs.

Unlike GCS? Any forum, any alliance membership, any international body this b.sht TRNC belongs? Any representative in UN, EU, any Ambassador somewhere -exempt of course in "DIYADIN" village in East Turkey?

[Hermes]

Oh dear...

Investors Hear Alarm Bells As Turkey Cuts Rates Again

Seriously?

That pretty much sums up sentiment in financial markets on Thursday when rate setters in Turkey – the world’s fastest growing major economy in the first quarter – unexpectedly cut the benchmark interest rate to a fresh low at an interim monetary policy meeting.

The rate cut of 50 basis points – which took the one-week repo rate to 5.75% – was accompanied by a 350 basis point hike in the overnight lending rate to 5%, and an announcement that the bank would begin buying dollars to offset selling pressure on Turkey’s currency.

The market’s initial puzzlement was quickly followed by a verdict; Sell.

The lira plunged 2% against the dollar to hover near a 2-year low, while the Istanbul stock exchange lost over 1%.

Turkey’s currency has now weakened a whopping 25% against the dollar since November; the worst performing emerging market currency in 2011 by some margin....

Several economists used words like “shocking” and “dangerous” to describe today’s central bank moves, saying investors increasingly question the bank’s policy credibility amid growing signs of a domestic credit bubble and a ballooning current account deficit expected to hit 10% of GDP this year.

“We think Governor Basci is playing a very dangerous game. The Lira is already 25% weaker from the November 2010 highs and if the trend continues it could start to trigger heavy USD buying by locals,” said Ilan Solot, an economist at Brown Brothers Harriman.

From the Wall Street Journal:
http://blogs.wsj.com/emergingeurope/201 ... tes-again/?

[Kikapu]

Oh dear...

Investors Hear Alarm Bells As Turkey Cuts Rates Again

Seriously?

That pretty much sums up sentiment in financial markets on Thursday when rate setters in Turkey – the world’s fastest growing major economy in the first quarter – unexpectedly cut the benchmark interest rate to a fresh low at an interim monetary policy meeting.

The rate cut of 50 basis points – which took the one-week repo rate to 5.75% – was accompanied by a 350 basis point hike in the overnight lending rate to 5%, and an announcement that the bank would begin buying dollars to offset selling pressure on Turkey’s currency.

The market’s initial puzzlement was quickly followed by a verdict; Sell.

The lira plunged 2% against the dollar to hover near a 2-year low, while the Istanbul stock exchange lost over 1%.

Turkey’s currency has now weakened a whopping 25% against the dollar since November; the worst performing emerging market currency in 2011 by some margin....

Several economists used words like “shocking” and “dangerous” to describe today’s central bank moves, saying investors increasingly question the bank’s policy credibility amid growing signs of a domestic credit bubble and a ballooning current account deficit expected to hit 10% of GDP this year.

“We think Governor Basci is playing a very dangerous game. The Lira is already 25% weaker from the November 2010 highs and if the trend continues it could start to trigger heavy USD buying by locals,” said Ilan Solot, an economist at Brown Brothers Harriman.

From the Wall Street Journal:
http://blogs.wsj.com/emergingeurope/201 ... tes-again/?

The loss was in fact, -3.244%



http://www.bloomberg.com/apps/quote?ticker=XU100:IND

[Viewpoint]

Turkish Exports Cheaper
Foreign imports more expensive
Narrowing trade deficit
Less dependence on foreign investment
Well done Turkey great move.

[CBBB]

They are doing so well they want our gas!

[supporttheunderdog]

They are doing so well they want our gas!

I'll give them gas

[supporttheunderdog]

and here is an even better one

[Hermes]

Well done Turkey great move.

Well that's Turkey fucked then.

[repulsewarrior]

Well done Turkey great move.

Well that's Turkey fucked then.

...he has the Army, he is the deep state, and the country's Prime Minister, turning toward some south and east, he'll close the border to the west, their
debt will be worthless in their own ruin or he will dissmiss their value, he will defend his country's integrity with allies like Pakistan, Iran and Syria, Brazil; indeed they'll build more bombs for each other, and by population they'll represent themselves as equal adversaries and markets..

...who knows, he may crack the Occidental world, but by taking the rest to the brink and in a manner, reforming Turkey in a way that they will emulate.

...i think Turkey was never not fucked, and i think it's been fucked since Attaturk was swayed by his Kemalists (see above). Erdogan will fuck us all it seems, he is in this way able to get an equal footing, great if you're "Turkish" i guess.

[Kikapu]

Turkish Exports Cheaper
Foreign imports more expensive
Narrowing trade deficit
Less dependence on foreign investment
Well done Turkey great move.

I think my dog knows more about economics than you and Erdogan put together.

Istanbul Stock Exchange National 100 Index (XU100:IND) drops another -5.159% on Friday.


These two following stories are from the same page with the same picture with different headlines. Rapidly changing situation, don't you think, VP?

Turkey confident as world shares plunge on crisis fears

http://www.todayszaman.com/news-252830- ... fears.html

Turkish shares plunge amid global worries

http://www.todayszaman.com/news-252779- ... rries.html

http://www.todayszaman.com/menuDetail.a ... tionId=105