Postby md0 » 2018-08-30, 10:49
I haven't followed the preacher story, I don't have any clue what's about, but the effects the whole thing had on the Turkish Lira is destroying northern Cyprus. The financial crisis here is several orders of magnitude worse than in Turkey. The T/Cypriot administration is on the brink of bankruptcy and unable to pay for essential services.
Good to see that the Turkish government is trying to de-escalate this, by warming up to the EU again (judicial reforms, releasing some European political prisoners). But for northern Cyprus, abandoning the TL is necessary even if the exchange rate reverts to normal.