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The Turkish lira is a new currency - only in existence since 2005. Turkey had a pretty strong military in the 80s and 90s, enough to crush the Kurds, keep Gree
by iso1631 6y ago
The Turkish lira is a new currency - only in existence since 2005.
Turkey had a pretty strong military in the 80s and 90s, enough to crush the Kurds, keep Greece at bay, and prevent Cyprus reunion.
Its currency devalued 35% per year from 1985 to 1990, 70% per year from 1990-1995, 170% a year from 1995-2000, and 20% a year from 2000-2005
The same thing is happening again.
- ginko 6y agoThe new Turkish lira was simply a redenomination that got rid of six zeros compared to the old Turkish lira that goes back to 1923. It's not really a new currency.