Literally the first two paragraphs (hell, the first two sentences) of the article
Almost every month, Mr Cihan Citak gets into his car, passport in hand, and sets off from Istanbul to Alexandroupolis, a Greek seaside city 40km from the Turkish border.
After a roughly four-hour drive, he walks the crowded aisles of the local supermarket, filling his cart with wine, cheese and other groceries that cost a fraction of what they do back home.
He’s not starting from the border, he’s starting from Istanbul, which is not anywhere near the border.
If Turks buy in Greece, doesn’t that make the Euro the weak currency? If the Turkish Lira is devaluating so much, they shouldn’t be able to exchange it into strong Euro to their advantage.
The central bank said on Nov 7 it expects inflation to close this year above 30 per cent,
How do they do this? 30% inflation means they are printing money. How do they manage to create the demand for Lira that they can buy Euros for cheap? Usually people would want to buy Euros and the value for Lira would fall.
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Does the cost of a travel really beat the added cost?
For a third of the price, at scale, I think that’s an easy yes. It’s only 40km.
40km from the border. 4 hours total each way
On foot uphill in the snow
What? I stige 45 km one way to work every day and it takes me 43 minutes. Where’d you get 4 hours from??
In the snow, uphill both ways, carry an old granny across the ravine on a tightrope.
Also traffic jams more likely.
Alexandropolis is 45km from the border, Istanbul is another 200km on a straight line (thus more).
There’s an international border crossing in between and probably potential for heavy traffic around Istanbul.
Edit: stupid math mistake
Literally the first two paragraphs (hell, the first two sentences) of the article
He’s not starting from the border, he’s starting from Istanbul, which is not anywhere near the border.
Hmm, yeah that’s rough. I guess if he lads up and reduces number of trips it might be worth it. It’s definitely a run-the-numbers calc.
Greece has some really good cheese. I would make the drive too haha
Turks buying Greek cheese? A feta worse than death!
I thought Turks didnt like curds
Did somebody forget to tell them? There’s no whey they can’t know.
This is a bot ^^
If you read their comments one after the next it’s so obvious.
Border shopping isn’t different anywhere else
In Denmark we drive hours to Germany to buy cheap beer and tobacco
In Greece they travel(ed) to Turkey for cheap leather clothing
We Finns travel to Estonia (and to Latvia) for cheap booze. Russians used to come to Finland for cheese which always makes me lol
thank to our GREAT LEADER ERDOĞAN’s ECONOMIC GENIOUS…!
You had your chance to over throw him
I used to order my cheese from Constantinople but I eventually picked it up in Istanbul.
Why did Constantinople get the works?
That’s nobody’s business but the Lithuanians.
If Turks buy in Greece, doesn’t that make the Euro the weak currency? If the Turkish Lira is devaluating so much, they shouldn’t be able to exchange it into strong Euro to their advantage.
I think this is an example of purchasing power vs currency swap value.
How do they do this? 30% inflation means they are printing money. How do they manage to create the demand for Lira that they can buy Euros for cheap? Usually people would want to buy Euros and the value for Lira would fall.
The Turkish central bank artificially holds the value of the Turkish Lira at great cost. Turks take advantage of that.
How do they do it?
They buy shittons of Lira with their foreign currency reserves.
They import more than they export. The foreign exchange reserves are stable at about $80 billion, besides one dip.
Where do those reserves come from?
Last time I heard about it were the Turkish elections where they decimated their reserves. Situation apparently has changed now, you know more than me