Cyprus-Forum.com

by **Londonrake** » Fri Dec 17, 2021 5:18 pm

You have to be careful about posting paywalled articles.

People are watching. :wink:

by **Maximus** » Fri Dec 17, 2021 5:33 pm

The Turkish stock exchange suspended trading, when stocks took a tumble after the lira fell below 17 to the US dollar on Friday.

Bloomberg reported that the authorities have applied "circuit breakers" to ease panic selling. the Turkish stock index is down about 8% today and it fell by that much in just one hour.

The currency has collapsed and inflation is expected to skyrocket.

According to S&P Global Ratings, the nation’s sovereign credit rating is to be downgraded to negative.

Erdogoon has instructed the central bank to slash interest rates and adding even more pressure on business by hiking the minimum wage by 50% or $275 to try and combat inflation.

Are you listening Bordo? Listen good. :roll:

https://www.rt.com/business/543524-turk ... halt-lira/

by **Lordo** » Fri Dec 17, 2021 5:50 pm

Maximus wrote:The Turkish stock exchange suspended trading, when stocks took a tumble after the lira fell below 17 to the US dollar on Friday.

Bloomberg reported that the authorities have applied "circuit breakers" to ease panic selling. the Turkish stock index is down about 8% today and it fell by that much in just one hour.

The currency has collapsed and inflation is expected to skyrocket.

According to S&P Global Ratings, the nation’s sovereign credit rating is to be downgraded to negative.

Are you listening Bordo? Listen good.

https://www.rt.com/business/543524-turk ... halt-lira/

You stupid boy. It has been shown that this is not connected to economic situation and connected with the dunmping of TL to force Erdogan to increase interest rates to 50% and of coure he is refusiong.

Either way the most of the population will be hit.

Let people realise what capitalist system is all about, how a few wankers can do so much damage. They may realise who they need to vote for next time.

Imamoglu is the answer. He cares about his electorate, and wil lprotect them as much as he can but he has to work under capitalism.

by **Maximus** » Fri Dec 17, 2021 5:55 pm

The nations sovereign credit rating is going to be downgraded to negative.

Even if he raises interest rates to 50%, Turkey wont have the liquidity to service such swap lines.

The smart money has realized that in the long run, their gains get wiped out and the money is leaving.

Its beyond the point of no return, Turkey needs regime change and a bail out from somewhere.

But I dont think he will leave gracefully, Do you? Turks are stuck with him at least until 2023, at the soonest.

by **erolz66** » Fri Dec 17, 2021 7:04 pm

Maximus wrote:The nations sovereign credit rating is going to be downgraded to negative.

some context here

I am just the layman here but my understanding is

there is the credit rating and then there is the outlook (within that rating)

Four days ago S&P left Turkeys rating at B+ and changed the outlook from neutral to negative. S&P rating scale has 20 gradients and B+ is 2 lower than Greece's current BB. In 2015 Greece actual did default meaning it dropped of the scale entirely (7 places lower than S&P currently rate Turkey), given that the scale represents the chance of future default according to the agency giving the rating.

by **Pyrpolizer** » Fri Dec 17, 2021 7:08 pm

Meximus deserves credit for predicting all this almost 2 years ago.
Congrats Max.
Now, where will all this end, to simple regime change, then back to normal as before via American help or to Turkey splitting in 7 again because America so decided, remains to be seen.

by **Pyrpolizer** » Fri Dec 17, 2021 7:17 pm

erolz66 wrote:
Maximus wrote:The nations sovereign credit rating is going to be downgraded to negative.

some context here

I am just the layman here but my understanding is

there is the credit rating and then there is the outlook (within that rating)

Four days ago S&P left Turkeys rating at B+ and changed the outlook from neutral to negative. S&P rating scale has 20 gradients and B+ is 2 lower than Greece's current BB. In 2015 Greece actual did default meaning it dropped of the scale entirely (7 places lower than S&P currently rate Turkey), given that the scale represents the chance of future default according to the agency giving the rating.

I guess all that is based on the books they present for which most of our educated participants in econimics , say they are cooked.. Just like Greece was cooking the books getting +ve grades...

by **repulsewarrior** » Fri Dec 17, 2021 7:25 pm

I am not sure what you are saying RW,

Turkey is simply reaping what she has sowed.

...i am suggesting that you have to think bigger because "Turkey" is not monolithic. By taking the premise that all the People, in Turkey, (and in Cyprus) are by association a "Greek", or, a "Turk", you are by such an assumption only reinforcing the power they (this elite) have to control the narrative, and Agenda. I choose to never forget that beside extremists (our leadership(s) pander to,) there exist the silenced, call them Cypriot and call them Turkish, because they don't exist in small and insignificant numbers as "they" would have you believe.

It is not what Turkey is reaping from what she has sown, it is a blight that "Turkishness" is spreading over its People to devour ('us', and) them.

by **Pyrpolizer** » Fri Dec 17, 2021 7:34 pm

Imo Turkey (under Erdogan) made a fatal mistake:
It proved it can be a threat not only to the big European powers (France and Germany) but also to the weaker ones like Greece and Cyprus. Let aside the threat to Israelis. It also proved an unreliable partner in NATO, flirting with Russia planning to go nuclear etc etc.
If such a country that hatched out of the egg just a few years ago can threaten/blackmail everybody imagine what it will do when it becomes a rooster.

I don't think the Americans/France/Germany/Isreal have not already decided what to do.

by **Maximus** » Fri Dec 17, 2021 8:19 pm

erolz66 wrote:
Maximus wrote:The nations sovereign credit rating is going to be downgraded to negative.

some context here

I am just the layman here but my understanding is

there is the credit rating and then there is the outlook (within that rating)

Four days ago S&P left Turkeys rating at B+ and changed the outlook from neutral to negative. S&P rating scale has 20 gradients and B+ is 2 lower than Greece's current BB. In 2015 Greece actual did default meaning it dropped of the scale entirely (7 places lower than S&P currently rate Turkey), given that the scale represents the chance of future default according to the agency giving the rating.

Yes something like that,

I had to check a couple of things to give you a reply but you have to also take in to account that these ratings change after the fact, with the latest data. You also have to take in to account the credibility of the data Erdo's regime publishes. Its probably a lot worse than you or anyone else is being led to believe or realize.

With that being said.

The credit rating (B, BB+, etc) is an assessment of a nations creditworthiness, or how risky it is to invest in that country's bonds. In other words, if you lend the government money, how likely are you to get repaid.

B+ is highly speculative and with a negative outlook, it means that borrowing costs, should the country seek a loan, go up immediately.

The rating can potentially slide any number of grades lower with a negative outlook. 3 more grades down, and Turkey reaches a high possibility for "imminent default".

No company or country ever wants to go on negative outlook.

But we will see.