TheBalticWord
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of this site. This site does not give financial, investment or medical advice.
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of this site. This site does not give financial, investment or medical advice.
A Turkish Belt and Road Initiative. Fascinating synergy there.
I’d say that cooperative effort should last at least through breakfast tomorrow, maybe even lunch.
You have to understand that turkish men are very keen on going to a country where the women are not wrapped up in cloth with only a small space left open for the eyes because they might otherwise keep bumping into their husbands’ belongings like his car or their children. He definitely would not want that to happen to his car or his sons !
Turkey can’t help itself, never mind poor deluded Balts. Erdogan has been borrowing money recklessly for decades, as well as using up nearly all its foreign currency reserves. The collapse of the Turkish economy will shortly transpire as a result. Here’s a better idea. Lithuania needs Russia’s help. Lithuania needs the help of Belarus. It should stop the petty persecution of ethnic Russians in Lithuania. It should stop its Russophobic foreign policy and try to reach a modus vivendi with Moscow. Russia, in that case, might want to use Lithuania’s ports and increase trade. Likewise, it should stop interfering in… Read more »
I agree that the Turkish economy is in very bad shape, but not sure whether it’s due to Erdogan’s borrowing money or rather the result of the pandemic. Turkey’s economy has long depended on global tourism, which ended with the pandemic. Here some figures: “While the government has predicted a rebound this year, slumping tourism has dimmed economic growth and exacerbated the current account deficit. Turkey’s tourism revenues slipped 40.2% from a year earlier to USD 2.45 billion in the first quarter of 2021.” And from another source: Tourism dollars in 1919: $34.52 Billion – in 2020: $12.15 Billion.I think… Read more »
Alexander Mercouris has covered Turkey’s economic difficulties several times. Certainly, loss of tourist income is a factor, but other things are much more important, as this article underlines. https://commodity.com/data/turkey/debt-clock/ These factors are: (1) Low foreign currency reserves – because Erdogan has used them up supporting the lira. (2) An economy reliant on one sector – construction- for growth. (3) The Turkish private sector’s over-reliance on foreign currency loans (4) the balance of trade deficit. ( 5) The inflation rate. This would be even higher but for the fact that most of the foreign currency reserves have been used to buy… Read more »
I just cannot take this seriously!