In a bold move that’s ruffling feathers in economic circles, Turkey has hatched a plan to combat inflation by simply destroying part of its currency. “If there’s less money, it has to be worth more, right?” reasoned the Finance Minister, while shredding a pile of banknotes.
The “Great Turkish Lira Bonfire,” as it’s been dubbed, will see millions of liras turned to ashes in what the government describes as a “fiery fiscal reset.” Citizens are encouraged to contribute to the blaze, with the promise of a tax deduction for every note they toss into the inferno.
Economists worldwide are scratching their heads at this unconventional approach, with some calling it “economic chicken” and others labeling it “fowl play.” Meanwhile, the Turkish public is divided, with some warming up to the idea, while others simply feel burned.
As the first flames flicker, the world watches with bated breath. Will Turkey’s cash conflagration send inflation up in smoke, or will it just be money to burn? Only time will tell, but for now, the Turkish economy is certainly heating up.