Cyprus-Forum.com

[repulsewarrior]

Can you update us whats happening economically in Greece and south Cyprus?

...i don't worry about that, i know that you will be gleefully (and instantaneously i might add) opening a topic if things turn down.

question is, have you any ideas about beloved Turkey that may help? at least, have you any thing which informs, to offer, for Turkey?

[Viewpoint]

Can you update us whats happening economically in Greece and south Cyprus?

...i don't worry about that, i know that you will be gleefully (and instantaneously i might add) opening a topic if things turn down.

question is, have you any ideas about beloved Turkey that may help? at least, have you any thing which informs, to offer, for Turkey?

Dont forget Turkey has been through much worse and is still standing unlike Greece and south Cyprus.

[bill cobbett]

The headline...

Turkey central bank blows through tons of cash to save Lira

News that Turkey has wasted another 650 Million Dollars today, in addition to the 2 Billion USD on Monday, trying to prop up the TL... whilst Turkish interest rates carry on edging upwards.

First para...

..."The Turkish central bank sold $650 million dollars on Wednesday, market sources said, in a test of wills with the market to hold up the lira but Turkey's borrowing rate rose sharply..."

Rest at... http://www.middle-east-online.com/english/?id=60024

[repulsewarrior]

Can you update us whats happening economically in Greece and south Cyprus?

...i don't worry about that, i know that you will be gleefully (and instantaneously i might add) opening a topic if things turn down.

question is, have you any ideas about beloved Turkey that may help? at least, have you any thing which informs, to offer, for Turkey?

Dont forget Turkey has been through much worse and is still standing unlike Greece and south Cyprus.

it is a question of confidence, can Erdogan call early elections, should he resign?

...as for Greece, and Cyprus, they will be stronger for it, overcoming their denial, unlike the regime which occupies the north, or Turkey.

[Viewpoint]

Denial is in your DNA you cannot get rid of it.

[repulsewarrior]

Denial is in your DNA you cannot get rid of it.

una fatsa una ratsa, eh vp?

...but, i am still rooting for you.

[Viewpoint]

Denial is in your DNA you cannot get rid of it.

una fatsa una ratsa, eh vp?

...but, i am still rooting for you.

Because you know deep down I am right.

[Demonax]

“I find it impossible to see that Turkey gets through this without a recession”

Without Turkish rate rise, foreign investors may cut losses and run

Foreign investors sitting on losses of 5-15 percent in Turkey are likely to cut and run without a swift and substantial interest rate rise to stabilise the plunging lira...

"Turkey is in a very dangerous situation. We haven't really seen massive outflows yet but they could become very acute," said Luis Costa, head of CEEMEA currency and debt at Citi. "And you have to remember there is a $5 billion-a-month current account deficit that needs to be financed."

Turkey's balance of payments deficit and reliance on foreign short-term capital is widely viewed as its economic weak spot.

Data on Thursday showed the funding deficit had widened almost 20 percent to year-ago levels, making the central bank's blowing in recent days of $6.3 billion to defend the lira - more than a tenth of its useable reserves - look all the more risky.

They've got a bunch of stuff going wrong at the same time," Paul McNamara, investment director at GAM, told Reuters Insider television. "They have had a big banking boom, very substantial current account deficit and inflation ticking up ... that's crying out for action to get the economy back under control, including higher rates....

But the adjustments investors want to see will be costly. A 400 bps rate rise would shock an economy, banks and population that have become used to loose monetary policy and cheap credit.

That will ultimately damp enthusiasm for Turkish equities, where foreigners hold over 60 percent of the free float.

"I find it impossible to see that Turkey gets through this without a recession," McNamara said.

[repulsewarrior]

Denial is in your DNA you cannot get rid of it.

una fatsa una ratsa, eh vp?

...but, i am still rooting for you.

Because you know deep down I am right.

yes, because deep down, i think you know what's right.

[Maximus]

Foreign direct investment to Turkey drops by 35% in the first five months of 2013 year-on-year, according to the Central Bank

http://www.hurriyetdailynews.com/35-per ... sCatID=344