On March 9, 2008, the currency of Turkey, Turkish lira, had the lowest rate in US Dollars of past 10 years. The conversion rate of US Dollars to Turkish Lira was moving around 1.7 for a month; however, this movement lost its stability on March 9 and increased to 1.8. This conversion rate was the worst of the past 10 years. The conversion rate could come to only 1.7 as maximum in 2000 crisis, but in 2009 the rate changed to 1.8 as maximum. However the prime minister of Turkey, Recep Tayyip Erdogan, stated that the crisis didn’t clearly affect our country, these stats prove that the affection of the global crisis is more in 2009 than it was in 2000.

In addition, this rate was moving around 1.17 and 1.18 in September 2008; besides, it increased continously since October 2008. January 2 was the alert of this recession in which the rate moved to 1,6424 from 1,5291.

Now, the government is expected to set new investment plans to minimize the effects of this recession on our country.

As we all know, the economic crisis is growing up everyday; moreover, this forces the companies to dismiss their employees. Even the largest companies of the world need to dismiss some of their employees in order to survive from crisis.

For example, Philips, Netherlands-based electronics giant, announced that 6,000 jobs would be lost worldwide.

ING is a Dutch-based finance group which would dismiss 7,000 staff to save billions of dollars.

Pfizer is an US-based medical company which will also deal with loss of jobs due to recession.

These three companies are one of the best in their industry, and even these companies are facing some problems which led them to dismiss their staff in an effort to save billions of dollars.

I wonder if all leaders around the world would come together and find a solution for the recession. It is now a common opinion that The World Economic Forum in Davos has became a place for politics more than economics; therefore, a bigger movement is needed which should make everyone involved about the crisis.