WorldSpontaneous protests took place in Turkey after the collapse of the lira exchange rate

Spontaneous protests took place in Turkey after the collapse of the lira exchange rate

In a number of Turkish cities, spontaneous protests took place after the collapse of the national currency – the lira. This was announced on Tuesday, November 23rd by the Halk TV channel.

It is noted that in Istanbul and Ankara, protesters chanted slogans “Government to resign”, some held banners demanding to remove the ruling Justice and Development Party from power.

As a result, the demonstration in the capital turned into clashes with law enforcement officers.

Students from the Middle East Technical University (METU) took part in a protest in Ankara. They gathered in the dormitory area and set off for the procession.

Students shouted slogans such as “Leaving the government”, “The burden of the crisis on the bosses”, “Turn on the light, let the light bulb explode.” Some of the participants came to the march with pots and pans and beat the dishes.

The Turkish authorities have not yet reported the arrests, but the footage captured by eyewitnesses shows how the police detain one of the students.

In addition, the residents of Izmir joined the protests. Videos posted on social networks show that the participants in the processions are mostly young people.

Earlier on the same day, it became known that the collapse of the Turkish lira was 18%, the currency fell from 11.37 to 13.21 lira per dollar.

According to financial analyst Arda Tunca, such a drop in the Turkish national currency per day has become a record over the past 20 years. According to him, the situation was influenced by the speech of Turkish President Tayyip Erdogan, who on the eve spoke in support of lowering the discount rate. The analyst added that the most pessimistic forecast for the country is a slowdown in the entire economy, rapid inflation, bankruptcy of companies in the real sector, as well as a sharp jump in unemployment.

On Friday, November 19, the Turkish Central Bank cut its discount rate from 16% to 15%.