Chronic Inflation - Examples - Turkey

Turkey

Throughout the 1990s. Turkey dealt with severe inflation rates that finally crippled the economy into a recession in 2001. The highest denomination in 1995 was 1,000,000 lira. By 2005 it was 20,000,000 lira. Recently Turkey has achieved single digit inflation for the first time in decades, and in the 2005 currency reform, introduced the New Turkish Lira; 1 was exchanged for 1,000,000 old lira.

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Famous quotes containing the word turkey:

    It has been an unchallengeable American doctrine that cranberry sauce, a pink goo with overtones of sugared tomatoes, is a delectable necessity of the Thanksgiving board and that turkey is uneatable without it.... There are some things in every country that you must be born to endure; and another hundred years of general satisfaction with Americans and America could not reconcile this expatriate to cranberry sauce, peanut butter, and drum majorettes.
    Alistair Cooke (b. 1908)

    You can make as good a design out of an American turkey as a Japanese out of his native stork.
    —For the State of Illinois, U.S. public relief program (1935-1943)

    A turkey is more occult and awful than all the angels and archangels. In so far as God has partly revealed to us an angelic world, he has partly told us what an angel means. But God has never told us what a turkey means. And if you go and stare at a live turkey for an hour or two, you will find by the end of it that the enigma has rather increased than diminished.
    Gilbert Keith Chesterton (1874–1936)