Home Page >> Columnists Rasıh REŞAT | 27 August 2015, Thursday
Lay back and think of the picture of HRH

I know my international readers won’t understand much about this piece, due to the possibility that they aren’t aware of the special circumstances of this Island that we are all stuck on.

But I am going to write it anyway. It is about time they got to understand Cyprus, as it is the centre of the universe. Or at least we tend to make ourselves believe it is.

Cyprus has been divided into two parts after 1974 when a bunch of silly bastards in uniforms sitting in Athens decided that they could overthrow, Archbishop/President Makarios off his thrown and annex Cyprus to Greece. The other bunch of opportunist men in uniforms from Ankara decided that they should save the Turkish Cypriots from the Greek atrocities, with the proper paperwork in their pockets dating back from 1960 as guarantors of the Republic, which another bunch of silly men, this time in suits and gowns, decided to dissolve in 1963.

Dear readers with the silliest background of the Cyprus problem now under your belt, I hope you will be able to understand the rest of this piece.

So read on.

Because another silly sod called Ziya Muezzinoğlu decided one morning that the Cyprus pounds in the Turkish Cypriot people’s bank accounts after1974 was to be converted to Turkish Lira on a 1/36 ratio, the Turkish Cypriot people started using the Turkish Lira instead of the Cyprus pound which was one of the most valuable currencies in the world until the silly bunch in the South decided to get into the Eurozone and let the Troika force itself on them in everyway you can imagine.

Today the situation is like so;

The Greek Cypriot side is using Euros as the official currency and we in the North are using Turkish Lira as our official currency.

With one difference of course; The Greek Cypriots earn Euros and spend Euros. We earn Turkish lira and spend Sterling, Euros and sometimes US Dollars.

So when there is devaluation in the Turkish Lira we indirectly lose money.

The devaluation of the Turkish Lira is not a complicated issue you know.

One time Turkish President Ahmet Necdet Sezer tossed the Constitution booklet to the Prime Minister at the time, Bulent Ecevit and the people using Turkish Lira became 50 Per cent poorer overnight.

Same happened when the Gezi protests started in Turkey last year. The average guy in North Cyprus like myself lost a few bob. Then the elections came to the agenda the idea of AKP not being able to form a government on its own lost me a few quid as well. Then the PKK attacks the instability in Turkey made me lose some more of my hard earned cash.

Don’t get me wrong I am not an international investor nor do I have stocks in Turkish companies or anything. I don’t even live in Turkey and have no personal or financial ties to it.

I am just an ordinary guy who is earning Turkish Lira paying school fees in Sterling, paying loan instalments for his house in Sterling and paying instalments for a car that he had should never bought in the first place in Euros.

At the end on the day using a currency that you have no say in whatsoever and the value of the currency is vulnerable to the political instability of another country, you are screwed every which way.

So you might as well lay back and think of the picture of Her Majesty’s picture on the 50-pound Note.

That’s what I am doing at the moment…

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