"We must be prepared for the declaration of a state of emergency due to the crisis in the Turkish economy"
"We must be prepared for the declaration of a state of emergency, due to the crisis of the Turkish economy"! This warning does not come from an opponent of President Erdogan, but from his close associate, law professor Dr. Izet Ezgens, who advises the Turkish President on legal issues.
In a post on twitter, Professor Ezgens writes: "The continuing devaluation of the Turkish pound against foreign currencies has begun a process that will lead to a 'HEAVY ECONOMIC DECLINE. "Therefore, we must be prepared as a society to declare a state of emergency, due to the severe economic crisis that seems inevitable."
Professor Ezgens's post has caused a stir in the Neighborhood, as it is considered to echo the inward views of the Turkish president, in order to deal with the expected social explosion. Well-known journalist Murat Getkin says that "Erdogan allows the pound to fall freely to declare a state of emergency and find a way to silence the opposition."
"Burned" 2,5 billion. Dollars in a few days
In the last three months alone, the pound has lost more than a third of its value. The Central Bank has "burned" $ 15 billion in the last 2,5 days to support the pound, to no avail.
At the same time, real wages are falling and the cost of living is rising. The Municipality of Istanbul estimated that the cost of living in the metropolis increased by an average of 50% last year. For example, the average consumer has to spend about 15% of his or her net monthly income to fill his or her car tank once. However, Erdogan insists on his failed policy and tomorrow the Central Bank is expected to announce a new reduction of interest rates from 15% to 14%.
Early elections and in the background… IMF
The well-known Turkish professor of Economics, Korkut Boratav, estimates that "if the reduction of interest rates continues, the situation will get completely out of control". As he emphasizes, "there are signs of dissolution in power. "The economy has reached such a dead end that if the government can create a very short period of economic respite, it will go to early elections."
Recalling that the share of employees in the national net value added decreased by 6,2 points from 45,3% to 39,1% in the last five years, according to official, Professor Boratav, adds: "There is an unprecedented collapse in economic history of Turkey. The government dragged the country into social misery. "Whether the government changes or not, in 2022, Turkey has been doomed to a process that includes austerity and an IMF program."