Lira getting Stronger - Why?

[JohnF]

Sounds like he's getting his jotters.

JF

[kevin3]

  There's an interesting piece on the BBC News website about the troubles between the President and the PM.

   Not good news for Turkey.   

[JohnF]

The word on the pavey is that his fecking son in law, Berat Albayrak, is a favourite to replace Davutoğlu.

Nepotism on the grandest scale.


JF

[kevin3]

  I said a while back that the cabinet members would become obsolete and everything would be run from the Palace.

  Well I think it's under way. A dynasty is on the cards.

[JohnF]

A dynasty is on the cards.

Aye, and not the Joan Collins one either.

I'm hearing that the fallout, which has been rumbling along for some time, came to a head over the EU deal (and of course the power stripping) and that the final few laws that have to be passed to make it happen may now not go forward.  Even though EU insiders have said its a done deal, thats been on the basis they've been dealing with Davutoğlu...  and that appears to be an issue thats put little reginalds nose out of joint. 

At the end of the day, whoever ends up as PM has a short shelf life anyway - I mean, when the prez becomes the overall head of everything in Turkey what's the point in having a prime minister?

JF

[JohnF]

Ah well, looks like little reginald has basically told the EU to feck off.

http://www.bbc.co.uk/news/world-europe-36229468

JF

[Colwyn]

Nice to see the £ creeping up in advance of our holiday next month. Go sterling Go!

[JohnF]

Not just the pound Colwyn, the lira has been steadily weakening for the past week or so.  It's almost back to 3 to the USD and heading towards 3.4 to the EUR - pre Nov election rates.  As regards sterling, the pound has been losing ground to most major currencies recently - makes you wonder what the lira rate would be against a rising pound!

A lot to do with the political uncertainty I suspect.

JF

[Colwyn]

Not just the pound Colwyn

I know. It was a bit of a selfish post. I've only got £s to spend! [P.S. Plus the 50TL I have treasured since last year].

[JohnF]

Aye well, your bullseye is now worth £11.60 at the current rate - by the time you get over it might be enough for a couple of beers, no kebab and certainly no taxi home  

JF