Turkish Election Results and Implication

[AE Bravo]

This is interesting, Turkey close to a default, bad news for EU-banks who got money there. Greece is already dead can't covertely recapitalise over their backs anymre

Just strongarmed Qatar into a $15bn investment. That could reassure all those who intended to pull assets.

[Fragony]

Just strongarmed Qatar into a $15bn investment. That could reassure all those who intended to pull assets.

Might look like that but reality is that 15bn got pulled out, Qatar and Turkey are not friends right now

[Furunculus]

Just strongarmed Qatar into a $15bn investment. That could reassure all those who intended to pull assets.

$220bn needed within the next twelve months...

[AE Bravo]

Yeah, it's a lifeline at best.

[Fragony]

$220bn needed within the next twelve months...

Even that is a pretty optimistic. Still happy with the Erdo Khan. This is pretty tragic for a lot of Turks working in Europe they never expected this. Qatar probably took over their trourist-industry I can't find anything meaningful on in how much trouble Turkey is in, I heard it is very vulnerable for a little sting, we will know more monday I guess, downgrade is in but that shouldn't mean anything as there is hardly any coin to be found there

[Crandar]

Why do you say that the Qatari-Turkish alliance is in tatters? It seems as strong as ever to me. Yesterday Saudi Arabia donated millions to Kurdish Syria, so that Americans will stay and deter Syria and Iran from reuniting the country, which means that Qatari-Turkish interests will continue to thrive. By the way, Turkish tourism is on the rise. People have forgotten about the terrorist attacks, but the biggest contributor is the collapse of the lira. Here hotel owners whine about Romanians and Russians (muh orthodox brotherz!) preferring Istanbul to the beauty of Athens and Thessaloniki.

[AE Bravo]

Yeah, I don't know how Fragony got that impression. The connection between them is so strong some get completely carried away, like that guy that went viral after exchanging his half a million riyals to lira on video while reciting lame poetry for instance. From what I've read, there's no sidestepping the IMF. He will have to give in to higher interest rates and an independent central bank. The former he called evil and the latter he wants under his control.

[Fragony]

None other than an impression mind you, I really don't know

[Seamus Fermanagh]

Yeah, I don't know how Fragony got that impression. The connection between them is so strong some get completely carried away, like that guy that went viral after exchanging his half a million riyals to lira on video while reciting lame poetry for instance. From what I've read, there's no sidestepping the IMF. He will have to give in to higher interest rates and an independent central bank. The former he called evil and the latter he wants under his control.

Higher interest rates will be harder on his constituents than for the comparatively wealthy communities on the Bosporus, Dardanelles, and the Aegean. So that makes sense. As a "strongman" style leader, any powerful institution over which he has little influence would be unappealing. On the other hand, it will be a Central Bank of Turkey...sub rosa, his influence might be notable. Not sure on the IMF track record on such things.

[Fragony]

There is no central bank in Turkey anymore they are stripped, Erdogan took control of it, even replaced the pretty well respected head of it with his son in law, ouch. Erdo Khan't it's not all that liracal.

edit, that last sentence is pretty good, I can congratulate myself

[AE Bravo]

It's waxing liracal dammit.

[Fragony]

Just isn't the same thing if you beach it, offshore but different