5 ms·

Why don't they just sell in Euro/USD? That's what people did a few decades ago a bit further north, when the local currency wasn't trusted (even if it was rathe

by bserge 5y ago

Why don't they just sell in Euro/USD? That's what people did a few decades ago a bit further north, when the local currency wasn't trusted (even if it was rather stable). But yeah, inflation in Eastern Europe is pretty bad, and if you voted for a bunch of dumb assholes who don't care about you or the nation, you're multifucked.

pmontra 5y ago
Is like to hear about this from somebody living in Turkey but maybe shop prices must be in Lira. I don't even know if in my country it's mandatory for physical shops to display prices in Euro or if a price could be only in Dollars.
- rvense 5y ago
  Certainly in my country you have to accept our own currency. Cash is mandatory too, although that's just a matter of a years.
- School-Cotton 5y ago
  Even if you have to quote prices in lira, could they internally model the price in euros or dollars and adjust the lira price multiple times a day if necessary? I’ve heard that this is what most shopkeepers did during the hyperinflation in Yugoslavia (with German marks as the reference currency).
- mrighele 5y ago
  I don't know about shop prices, but it used to be possible to make contracts in EUR or USD, especially when loans in those currencies were involved. For example if a company would build a shopping center using loans in EUR, and then would rent the shops in EUR. This practice has been banned, I think at the time of the previous currency crisis (2018) and now prices must be in local currency
ulzeraj 5y ago
Probably some forced course laws that demands prices be defined in local currency. If you ever lived in countries with irresponsible central banks like Brazil or Argentina you'll notice there are often laws to dissuade you from using the crappy local currency.
isbvhodnvemrwvn 5y ago
Soeme of developers in Ukraine are paid in USD or EUR for this reason.
blfr 5y ago
How did Turkey find its way to Eastern Europe?
- guythedudebro 5y ago
  Through Greece and the Balkans
- cheschire 5y ago
  It bridges Europe and Asia and geographically considered a part of both, according to wiki.
  - fnord77 5y ago
    cool thing about Istanbul is it spans two continents, too.
  - AdrianB1 5y ago
    It is technically partly in Europe and in Balkans, but the common use of Eastern Europe does not include Turkey.
- davidw 5y ago
  It shares land borders with Bulgaria and Greece.
- csomar 5y ago
  Half of their "capital" is in Europe. They used to own some of the E.E. countries before the Ottoman fell.
  - yusucan 5y ago
    No it's not. Istanbul is not the capital, Ankara is.
    - csomar 5y ago
      That's why I put it in quotes. Ankara is the political capital while Istanbul is the financial, industrial, and anything really capital.
mistrial9 5y ago
you are thinking about the Ottoman times here?
davedx 5y ago
I worked for an e-commerce site that sold cars in Turkey in Euros. Sometime in 2018 I think it was, Erdogan made a new law that said everything had to be traded in Lira.
- AdrianB1 5y ago
  There are ways to go around. Last year I bought a car (not in Turkey, but very close) and the price was in EURO converted to local currency at the rate of the last payment. I ordered with a downpayment and I got it 3 months later (supply chain slowness) and I paid in local currency the converted price of that day. The car was not sold in EURO, but the price was linked to it.
lostlogin 5y ago
> pretty bad, and if you voted for a bunch of dumb assholes who don't care about you or the nation, you're multifucked. The vote tally and the resulting leader are not necessarily related in these places.
- tsimionescu 5y ago
  Where in Eastern Europe do you think elections were stolen by invalid vote counting?
  - lostlogin 5y ago
    Belarus, Russia, Turkey, Romania. There is a list under ‘Europe’ here: https://en.m.wikipedia.org/wiki/List_of_controversial_elections https://en.m.wikipedia.org/wiki/List_of_controversial_electi...
Keyframe 5y ago
Same reason you cannot pay in euros in US. Lira is a legal tender. Company can peg prices internally to a spot rate to whatever, but if exchange turns to fast volatility, what else can you do?
- AdrianB1 5y ago
  There is no law preventing one to sell in Euro in US and there is no law mandating a seller to accept USD as payment. "Legal tender" does not mean what most people think.
  - Keyframe 5y ago
    That's quite a fantasy there.
    - haneefmubarak 5y ago
      You have to ultimately pay taxes in USD and have to accept settlement for debts in USD, but otherwise you're free to accept anything else you'd like, really.
      - Keyframe 5y ago
        That's quite a difference than compared to most, if not all, european countries. There are certain exceptions for outside.of borders payments, but even then local and legal currency has to be accounted. Retail no way.
  - tsimionescu 5y ago
    A supermarket could refuse to sell you something unless you pay in Mario coins, but I beleive a restaurant is forced to accept your dollars to settle the bill you incurred for the food, and can't insist you pay your bill in Fallout Bottlecaps. Is this right?
    - AdrianB1 5y ago

by bserge 5y ago

pmontra 5y ago

Is like to hear about this from somebody living in Turkey but maybe shop prices must be in Lira. I don't even know if in my country it's mandatory for physical shops to display prices in Euro or if a price could be only in Dollars.

rvense 5y ago
Certainly in my country you have to accept our own currency. Cash is mandatory too, although that's just a matter of a years.
School-Cotton 5y ago
Even if you have to quote prices in lira, could they internally model the price in euros or dollars and adjust the lira price multiple times a day if necessary? I’ve heard that this is what most shopkeepers did during the hyperinflation in Yugoslavia (with German marks as the reference currency).
mrighele 5y ago
I don't know about shop prices, but it used to be possible to make contracts in EUR or USD, especially when loans in those currencies were involved. For example if a company would build a shopping center using loans in EUR, and then would rent the shops in EUR. This practice has been banned, I think at the time of the previous currency crisis (2018) and now prices must be in local currency

ulzeraj 5y ago

Probably some forced course laws that demands prices be defined in local currency. If you ever lived in countries with irresponsible central banks like Brazil or Argentina you'll notice there are often laws to dissuade you from using the crappy local currency.

isbvhodnvemrwvn 5y ago

Soeme of developers in Ukraine are paid in USD or EUR for this reason.

blfr 5y ago

How did Turkey find its way to Eastern Europe?

guythedudebro 5y ago
Through Greece and the Balkans
cheschire 5y ago
It bridges Europe and Asia and geographically considered a part of both, according to wiki.
- fnord77 5y ago
  cool thing about Istanbul is it spans two continents, too.
- AdrianB1 5y ago
  It is technically partly in Europe and in Balkans, but the common use of Eastern Europe does not include Turkey.
davidw 5y ago
It shares land borders with Bulgaria and Greece.
csomar 5y ago
Half of their "capital" is in Europe. They used to own some of the E.E. countries before the Ottoman fell.
- yusucan 5y ago
  No it's not. Istanbul is not the capital, Ankara is.
  - csomar 5y ago
    That's why I put it in quotes. Ankara is the political capital while Istanbul is the financial, industrial, and anything really capital.

mistrial9 5y ago

you are thinking about the Ottoman times here?

davedx 5y ago

I worked for an e-commerce site that sold cars in Turkey in Euros. Sometime in 2018 I think it was, Erdogan made a new law that said everything had to be traded in Lira.

AdrianB1 5y ago
There are ways to go around. Last year I bought a car (not in Turkey, but very close) and the price was in EURO converted to local currency at the rate of the last payment. I ordered with a downpayment and I got it 3 months later (supply chain slowness) and I paid in local currency the converted price of that day. The car was not sold in EURO, but the price was linked to it.

lostlogin 5y ago

> pretty bad, and if you voted for a bunch of dumb assholes who don't care about you or the nation, you're multifucked. The vote tally and the resulting leader are not necessarily related in these places.

tsimionescu 5y ago
Where in Eastern Europe do you think elections were stolen by invalid vote counting?
- lostlogin 5y ago
  Belarus, Russia, Turkey, Romania. There is a list under ‘Europe’ here: https://en.m.wikipedia.org/wiki/List_of_controversial_elections https://en.m.wikipedia.org/wiki/List_of_controversial_electi...

Keyframe 5y ago

Same reason you cannot pay in euros in US. Lira is a legal tender. Company can peg prices internally to a spot rate to whatever, but if exchange turns to fast volatility, what else can you do?

AdrianB1 5y ago
There is no law preventing one to sell in Euro in US and there is no law mandating a seller to accept USD as payment. "Legal tender" does not mean what most people think.
- Keyframe 5y ago
  That's quite a fantasy there.
  - haneefmubarak 5y ago
    You have to ultimately pay taxes in USD and have to accept settlement for debts in USD, but otherwise you're free to accept anything else you'd like, really.
    - Keyframe 5y ago
      That's quite a difference than compared to most, if not all, european countries. There are certain exceptions for outside.of borders payments, but even then local and legal currency has to be accounted. Retail no way.
- tsimionescu 5y ago
  A supermarket could refuse to sell you something unless you pay in Mario coins, but I beleive a restaurant is forced to accept your dollars to settle the bill you incurred for the food, and can't insist you pay your bill in Fallout Bottlecaps. Is this right?
  - AdrianB1 5y ago