9 minutes agoChaos in Turkey: Local currency down, citizens on the streets seek Erdogan's departure
Periskopi(5 years ago)
(5 years ago)Turkey is involved in economic turmoil that has caused discontent among citizens who have taken to the streets protesting. Turkish coin, lira, is overrated. Currently, 1 lira is converted to $13.54. The basic salary in Turkey has dropped to $230, down from the average salary in China. Devaluation of [...]
Turkish coin, lira, is overrated. Currently, 1 lira is converted to $13.54. The basic salary in Turkey has dropped to $230, down from the average salary in China.
The depreciation of the freedom against the dollar has caused serious crisis even in stores and pharmacys.
Major supermarkets in Turkey have warned citizens that they can buy up to two packs of coffee, sugar, oil and other food products.
Many stores lack basic goods. The population is becoming poor, causing resentment among citizens.
Protesters who voice revolt against President Erdogan and the ruling party have emerged along the streets, demanding his resignation.
Come on, real estate transactions have been cancelled due to uncertainty about changing the exchange rate.
There is an impasse in the electronics trade too. The American company Apple has suspended all online sales of Iphone and its products in Turkey due to free currency depreciation. There are reports that Samsung company has made similar decisions.
The crisis Turkey is experiencing has not been reflected in the largest domestic media, but the images of unrest have been spread on social Twitter network.
