AP News

News Summary: Turkish Cypriots express solidarity


WALLED OFF: Turkish Cypriots are watching with fascination — and sympathy — as the economy of their long prosperous southern neighbors implodes. Separated by a militarized border since the mid-1970s, the crisis doesn't directly affect Turkish Cypriots.

DIVERGENT ECONOMIES: The Turkish Cypriot economy is so dependent on Turkey that it uses the Turkish lira as its de facto currency. These days, that provides an element of relief for the north while the south suffers.

SYMPATHY: Turkish Cypriots say they know how the people of the south are feeling. In 2001, a financial crisis forced Turkey to overhaul its banking system. With the Turkish Cypriot economy so closely linked to that of its protector, the effects in impoverished northern Cyprus were brutal.


American Apparel's Future
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus