x

Society

Turkish Cypriots Protest Price Hikes from Turkish Lira Woes

September 8, 2018

NICOSIA (AP) — Hundreds of Turkish Cypriots took to the streets of ethnically divided Nicosia on Thursday to protest huge hikes in the prices of electricity, fuel and other goods sparked by the sharp devaluation of the Turkish lira.

Holding banners and chanting slogans decrying the hardship besetting blue-collar Turkish Cypriots, protesters ended a march organized by a coalition of trade unions near the breakaway Turkish Cypriot north’s parliament to voice their disgruntlement.

Turkish Cypriots use the lira as their official currency and its devaluation at around 40 percent against the dollar has hit them hard by severely diminishing their purchasing power. For example, electricity prices have shot up 50 percent since February while the price of imported goods has almost doubled.

Protester Kemal Gucveren told The Associated Press that the crisis is Turkey’s doing and no fault of Turkish Cypriots who should be left to decide their future for themselves.

Turkish Cypriots declared independence nearly a decade after the island was split in 1974 when Turkey invaded following a coup by supporters of union with Greece. Only Turkey recognizes the breakaway north, and has propped up its economy to the tune of 500 million euros annually to cover a budget shortfall.

Turkey also keeps more than 35,000 troops in the north. Although Cyprus joined the European Union in 2004, only the internationally recognized south enjoys membership benefits.

Turkish Cypriot Chamber of Commerce President Turgay Deniz said Turkish Cypriots have no choice but to depend on Turkey and to use its currency since Ankara bankrolls all major infrastructure projects and acts as a conduit for trade and commerce with the rest of the world.

“Everyone was in shock because no one expected the devaluation of the Turkish Lira to be at this level,” Deniz told The Associated Press in an interview. “Everyone expected a quick recovery and now they’re waiting to see how low it will go.”


By MENELAOS HADJICOSTIS , Associated Press

RELATED

NICOSIA, Cyprus  — Cyprus said Saturday it’s suspending processing all asylum applications by Syrian nationals because large numbers of refugees from the war-torn country continue to reach the island nation by boat, primarily from Lebanon.

Top Stories

Columnists

A pregnant woman was driving in the HOV lane near Dallas.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

Video

Russian Missiles Slam into a Ukraine City and Kill 13 People as the War Approaches a Critical Stage

KYIV, Ukraine (AP) — Three Russian missiles slammed into a downtown area of the northern Ukrainian city of Chernihiv on Wednesday, hitting an eight-floor apartment building and killing at least 13 people, authorities said.

SANTA ANA, Calif. (AP) — Visitors to Disney's California parks could one day walk through the snow-covered hamlet of Arendelle from “Frozen” or the bustling, critter-filled metropolis of “Zootopia” under a park expansion plan approved by the Anaheim City Council.

PARIS (AP) — With the Paris Olympic Games 100 days away, police carried out a large-scale eviction at France's biggest squat in the south of the capital.

NEW YORK (AP) — Four people were shot — one fatally — on a street corner in the Bronx by shooters who were riding on scooters, police said.

WASHINGTON (AP) — Senate Democrats could end the impeachment trial of Homeland Security Secretary Alejandro Mayorkas on Wednesday before arguments even begin.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. [email protected]

You may unsubscribe at any time using the link in our newsletter.