Editorial Ta Nea: Turkey’s lonesomeness
The historic 23 November plunge of the Turkish lira was triggered by the decision of Recep Tayyip Erdogan the previous day to declare an 'economic war of independence'.
It is ironical, yet at the same time instructive.
The historic 23 November plunge of the Turkish lira was triggered by the decision of Recep Tayyip Erdogan the previous day to declare an “economic war of independence”.
The dangerously amateurish Greek government in 2015 sought to declare a similar war, and it almost sank the country.
The reason that Greece managed to stand on its feet – whereas no one can guarantee Turkey’s future – is of course our participation in the common currency.
Whether in order to avert a domino effect or in order to help our country, without which the European family would lose an important part of its identity, our EU partners hastened to support the embattled Greek economy.
Although the Greek people had to make great sacrifices, and despite the fact that the ideological extremes in the Greek political system were strengthened for some time, our country is once again secure and strong.
Turkey, on the other hand, is being held hostage to ignorance, paranoia, and fanaticism. Moreover, it stands alone.
It is characteristic that the Ruler of Dubai (photo) was received yesterday as a messiah, with the hope that investment will save Turkey from economic disaster. However, few economists believe that.
Erdogan’s insistence on keeping interest rates low, which led him to fire over time three of the country’s central bankers, will ineluctably lead Turkey, sooner or later, into the embrace of the IMF.
Naturally, Turkey’s citizens will again pay the piper.
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