The “burn me” instruction was given by the Erdogan government to Turkish businessmen, as broadcast by Manolis Kostidis.
In a move of despair, the new Minister of Finance of Turkey Nureddin Nebati gathered the Fourth Group of businessmen and according to the newspaper Sabah, while assuring about the good economic situation of the country, asked to convert into Turkish pounds whatever dollars they have at their disposal!
In fact, he asked each of the 25-30 businessmen in the meeting to “waste” 100 million dollars each and convert them into pounds! But at the time of this happening, while the dollar was equal to 14.5 pounds, it reached 14.8 pounds, that is, within a short time it experienced a new devaluation, falling to new historical lows.
It is understood from the businessmen that no move was made, because things are expected to get worse (further), as on Thursday the Central Bank is expected to announce its interest rate policy, although it is already known, as Erdogan has ordered a reduction them against all logic!
“The continuing loss of value of the Turkish pound against the foreign currency has started the process that will lead to a severe economic crisis. “We, as a society, must be prepared for the state of emergency that could be declared as a result of a severe economic crisis that seems inevitable,” Erdogan’s Legal Adviser Izzet Ogens admitted at the same time.
Opposition group fire
At the same time, the opposition as a whole is attacking Erdogan for the financial crash.
“Now they will accuse the potato or onion producer, they will call them terrorists! This is how the days go by. The country is not governed. I repeat the country is not governed. “Erdogan says he is an economist but what he has done is for the Turkish pound to lose much of its value,” said Republican Party leader Kemal Kilincaroglu.
“The president is trying to explain the financial crisis through religion as well.
This hunger, poverty and inflation is not a natural disaster.
It is not an earthquake, flood or tsunami. Here we are talking about a crisis that was caused
due to the poor governance of the country by Mr. Erdogan’s government. “A report by an adviser to President Erdogan on the state of emergency has been set on fire,” said Ali Babacan, a former aide to Erdogan and DEVA leader.
The worst fears for capital controls are manifested.
“If we look at Professor Izet’s report on (imposing) a state of emergency, (then) there is concern about capital controls as well as the freezing of foreign currency deposits. This could lead to Turkey going bankrupt. I call on everyone to be serious. “While the scenarios for a government coup are increasing,” said the president of the Good Party, Meral Aksener.
At the same time, opposition MPs are carrying lentils, bread and even oranges on the podium of the Turkish Parliament, scolding the accuracy.
In 2021 the Turkish pound has depreciated 50% against the dollar, and 45% against the euro:
1 $ = 14.79 Turkish lira
1 € = 16.66 Turkish pounds
Turkish pound / US dollar
50% devaluation
Turkish lira / euro
45% devaluation
In fact, a video by the independent online newspaper Arti Gercek shows 2.5 2,500 coins – as much as the basic salary sold for 4. 4,000 in foundries.
The Turkish pound is now worth more as a metal than as a currency!
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