The fall of the pound has no end in Turkey, with the Turkish president insisting on his dead-end policy.
The country’s national currency came under suffocating pressure on Monday as well, with Erdogan attributing this tragic situation to propaganda.
The images of foreigners buying products in the country in euros and dollars against degrading prices make sense.
In the queues for the “bread of the people” the dignity of the Turkish people is tested daily. So is their patience.
At the same time, at Istanbul airport, foreigners with euros and dollars in their pockets are even buying toilet paper at degrading prices, with testimonies that professionals, such as taxi drivers, refuse to be paid in pounds, but only in euros because their currency is sinking.
The downfall of the pound has no end. Today, with a dip of even more than 7%, its exchange rate reached 14.6 with the dollar to then fall to 14.1 while with the euro it even approached 16.4.
The markets, after the successive downgrades by Fitch and S&P, have lost every bit of confidence in the Turkish economy.
Asked about the turning point for the Turkish economy, an analyst said: “It would be if Erdogan lost the election and withdrew peacefully and if a new government took over and allowed the Central Bank to act independently. That would be the turning point. ”
But also inside the country, the indignant movement is strengthening. In Istanbul, thousands of workers protested against impoverishment.
“My salary has been reduced by half compared to the beginning of the year. Just enter a market to see real inflation. “The worker has no purchasing power anymore,” says a worker in the metal industry.
Artists such as the band “Flirt” with the song “Polar Bear” with which they stylize the government’s policy are also beginning to participate in the protests:
“Half a loaf of bread is left at home, and it’s stale… It’s not in the palm of your hand! Come now, who is to blame?
The Turk does not seem to be afraid. Exhibits more than… 800 scissors used to cut project ribbons in recent years!
“Social media, which was described as a symbol of freedom when it first appeared, has become one of the main sources of threat.
for today’s democracy. “Countries with developed democracies, like us, are on the lookout for rising digital fascism and a wave of fake news,” said Tayyip Erdogan.
The opposition denounces an attempt to beautify reality.
Republican People’s Party MP Gamze Tatsier appeared with big glasses: “Gentlemen ministers! You forgot your reading glasses. Otherwise you could not present us with such a pink image. The only product that resists inflation is the book by Recep Tayyip Erdogan. It cost λί 40. It now costs λί 25. “
All indications are that the Turkish lira and impoverishment will continue as, according to Reuters, the central bank, which is fully compliant with Erdoganomics, has another interest rate cut in the pipeline.
According to Manolis Kostidis, the Turkish president, the new governor of the central bank and the new minister of finance met to meet the crisis, but while talking for 3.5 hours no announcements were made. At the same time, the vice-president of the ruling party, Numan Koutroumous, called provocatively “immoral” those who buy foreign currency in place of his salary.
It is recalled that two and a half years ago Erdogan had called on citizens to sell the currency to get pounds, and those who listened to him were destroyed. People are crying and worse days are coming, as they have a basic salary of 180 euros which slides to 170 euros.
“I do not give anything to those who brought us to this situation; we have become resilient!” says a crying man.
“What can I say, those who brought the country to this situation should be ashamed,” comments another. People are waiting in line for a loaf of bread. And then they talk to us and wave their finger at us … “another comments in the queue.
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