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Inflation in Turkey Soars to 36%; Experts Say Could Reach 50%

Inflation in Turkey soared to 36%, the highest in Erdogan era, and it may be headed for the stratosphere, up to a possible 50%, some experts say. With prices for food and drink up nearly 44% annually, Turkey's economic status...

Stock Market Sees Double-Digit Gains in 2021 in Pandemic Rebound

The stock market is ending 2021 with near-historic highs after the slings and arrows thrown at it from yet another year of the pandemic. After a slight dip, the market is set to close at near-record high levels after an...

Greeks Rush to Turkey for Shopping, Property as Lira Collapses

Greeks and Bulgarians are rushing to the border city of Edirne (Andrianoupolis) in Turkey to shop -- and even buy property -- as the nation's currency, the lira, is collapsing, Turkish daily Hurriyet reports. The lira dropped as much as...

Turkish Lira Hits New Low Point, Plunging 5.6%

The Turkish lira dipped another 5.6%, hitting record lows against the US dollar on Thursday after the country's central bank slashed its policy rate in line according to the unorthodox economic scheme created by President Tayyip Erdogan. The currency hit...

Greece and Cyprus Leave Eurozone, Adopt Dralira

Saying they would no longer put up with being told what to do and to keep imposing pay cuts, tax hikes, slashed pensions and seizing bank accounts so that foreign bankers putting up bailout loans could be paid back,...