Turkey’s credit ranking was lifted 2 levels to BB+ !!

Reproman


Joined: 05/06/2008
Posts: 252

Message Posted:
03/12/2009 20:02

http://www.bloomberg.com/apps/news?pid=20601087&sid=ahKNNkEIm6dc&pos=7





Turkey’s credit ranking was lifted two levels to BB+, the highest speculative-grade status, by Fitch Ratings, which cited the economy’s “resilience” during the global financial crisis.



“The upgrade reflects Turkey’s relative resilience to the severe stress test of the global financial crisis,” Edward Parker, head of emerging Europe sovereigns at Fitch in London, said in a statement today. “Credit fundamentals and debt tolerance are stronger than previously thought.”

LOvegod


Joined: 22/03/2009
Posts: 161

Message Posted:
03/12/2009 20:57

yeah and inflation edges up so that should stop the decline in interest rates. anybody still getting 10 % ?

loulou



Joined: 14/05/2008
Posts: 785

Message Posted:
03/12/2009 21:13

10% on what tl no probs try continental

Tootie


Joined: 28/08/2008
Posts: 2037

Message Posted:
03/12/2009 21:16

The trouble with financial markets is that they can change very quickly and unless you deal with them on a daily basis you can catch a cold. However it seems that Turkey are certainly bucking the trend, it would be interesting to find out what they are doing that Europe seem to be missing out on? It will also be very intersting where the TRNC stand in all this, being Turkish is this the sign that they will be more financially sound and perhaps the Greek End of the island is due a slump leaving the TRNC in a very strong position at the negotiating table?

They always say that "Every Dog Has His Day". Watch this space.



Tootie

scruff


Joined: 15/07/2008
Posts: 1070

Message Posted:
03/12/2009 21:32

One thing is for sure, the credit crunch hasn't affected Turkey like the UK. & the USA.

Not the TRNC either. The TRNC is the architect of its own misfortunes by & large. Bloated, overpaid Civil Service & unregulated building industry.

Geoff1131MK11


Joined: 04/04/2009
Posts: 396

Message Posted:
03/12/2009 21:32

And Finch ratings are looking at wether to reduce the uk's aaa status. It maybe better to have your money in Lira than Pounds now.

greylag


Joined: 08/04/2009
Posts: 1110

Message Posted:
03/12/2009 22:06

But not yemen Lira,

Grey.

Reproman


Joined: 05/06/2008
Posts: 252

Message Posted:
03/12/2009 22:08

Looks like Turkey isnt under as much pressure to join the EU as some posters on here have us believe.



With the likes of GREECE, Ireland, Spain (in a depression!) and Italy dragging the rest of the EU down and lets not forget the poor Eastern European block that have recently joined.



If Turkey can survive the worst global financial crisis in living memory, and still keep the the TRNC alive what makes anyone thing they are going to give up now?



With the troubles in GREECE now (see another post regarding "Greece the next Duabi?") i think Turkey are looking stronger and stronger as time goes on.

Lilli



Joined: 21/07/2008
Posts: 13081

Message Posted:
03/12/2009 22:13

just look what bo buy as done to the markets. I hope Turkey keeps strong as Greece is going the same way as Iceland Ireland Italyetc x

Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
03/12/2009 22:17

Look at NZ, AAA, maybe it's the sheep that vote!



Richard

clarets



Joined: 08/01/2009
Posts: 752

Message Posted:
04/12/2009 08:54

There are more than 5000 people "working" in UK banking, who "earn" more than £1000000 / year,and probably many 10's of thousands more who "earn" hundreds of thousands of pounds. They all did such a good job that "us tax-payers" are now share-holders,without being asked ! I would request that our impotent HM government cap such salaries/bonuses to say £250K and tax above that 100% . We are not worried about losing such people to "other markets", as failure is not a sought after commodity. Before anyone says it.......GP's do not earn anywhere near the proposed tax cut off point !Don't think the TR will pay their "bankers" anything like this and certainly not hold them in such reverence !