TWITTER POLL: More than three-quarters say no to failing Turkish lira

The Turkish lira has fallen by 22% since the start of the year. (File/Shutterstock)
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Updated 22 September 2020

TWITTER POLL: More than three-quarters say no to failing Turkish lira

  • Lira has lost half its value since 2017
  • Poll finds more than 80% would not invest in falling currency

DUBAI: The Turkish lira has plummeted 22 percent this year, but an Arab News Twitter poll found that most people still don’t have the confidence to invest in the tumbling currency.

About 18 percent of the 1,438 respondents said that a weak lira was worth investing in, while nearly 82 percent said the risk was too great.

Traders will buy currency when it is weak, but tend to only do so if there is confidence that it will eventually climb back up in value – thus making a profit.

The lira – already impacted by the coronavirus and President Recep Erdogan’s authoritarian style of leadership – has suffered increased problems as he printed more money to bolster spending, but instead his plan led to a further devaluation.

Turkey and Erdogan are facing widespread condemnation for their foreign policy, which has seen the country intrude into Greek-claimed waters and interference in Libya and Syria.

There is also growing concern of civil unrest inside the country.

On Monday the currency reached record lows, touching 7.6 against the US dollar – it has lost half its value since the end of 2017.


Donald Trump no fan of ‘Borat’ creator Sacha Baron Cohen

Updated 24 October 2020

Donald Trump no fan of ‘Borat’ creator Sacha Baron Cohen

  • Word of Baron Cohen’s latest outrageous ambushes on unsuspecting participants had spread like wildfire

ABOARD AIR FORCE ONE: Donald Trump said Friday he has not been a fan of Sacha Baron Cohen – even before a clip from the British comedian’s new Borat movie forced the US president’s lawyer Rudy Giuliani into an awkward explanation.
Asked about the clip – which shows Giuliani in a faked “interview” with an attractive and flirtatious young woman – while speaking to journalists aboard Air Force One, Trump said: “I don’t know what happened.”
“But years ago, you know, he tried to scam me. And I was the only one who said no way. That’s a phony guy. And I don’t find him funny.”
Trump said the incident happened about 15 years ago.
“To me, he was a creep,” Trump said.
The president did not provide further details about that encounter, but in a 2003 interview, Baron Cohen – playing the wannabe gangster Ali G – pitched a business venture to Trump: special gloves for eating ice cream.
Before the new Borat film’s release, word of Baron Cohen’s latest outrageous ambushes on unsuspecting participants had spread like wildfire.
On Wednesday, Giuliani issued an angry denial over the fake interview.
In the film, the encounter appears to leave the 76-year-old former New York mayor in a compromising situation, caught with his hands down his pants in the bedroom.
Giuliani said the scene was “a complete fabrication.”
“I was tucking in my shirt after taking off the recording equipment. At no time before, during, or after the interview was I ever inappropriate,” he tweeted.
“If Sacha Baron Cohen implies otherwise, he is a stone-cold liar.”
The comedian continued to poke fun at Giuliani.
In a video posted on social media, Borat himself leapt to his defense and accused the “fake news media” – a term often used by Trump and his supporters – of turning an “innocent” encounter into “something disgusting.”