With the expiry of this century-old treaty in 2023, Turkey will itself enter a new era by drilling oil and dug up a new canal linking the Black Sea to the Marmara Sea to recover the costs of passing ships. This seismic evolution, combined with Turkey`s recent military adventurism, suggests that the geographical contours of the region will certainly undergo a gigantic metamorphosis after the end of the Treaty of Lausanne. As U.S. commentators debate whether Turkey will join U.S. President Barack Obama`s coalition against the Islamic State, some Turkish experts expect more serious foreign policy challenges, such as what will happen in 2023, when the Lausanne Treaty expires and Turkey`s modern borders become obsolete. According to secret articles signed nearly a century ago by Turkish and British diplomats in a Swiss maritime zone, British troops will reocquire fortresses on the Bosphorus and the Greek Orthodox Patriarch will revive a Byzantine mini-state within the walls of the city of Istanbul. On the positive side for Turkey, the country will finally be allowed to draw on its huge oil reserves, which were not limited before, and perhaps to reclaim Western Thrace. It`s a thing of the day. The Ottomans had sovereignty over the two holy sites of Makkah and Madina and ruled over Cyprus, Iraq, Syria, Libya and Greece. The date on which the Treaty of Lausanne expires on 24 July 2023 is near. The end of the treaty will mark the resumption of Turkey`s regional hegemony, as it can be drilled in the Black Sea, in the eastern Mediterranean. The Turkish lira is the world`s second-worst currency this month, down more than 4 percent against the dollar, and extending its losses for the year to more than 18 percent, Goldman Sachs said.
The U.S. dollar now buys 7.30 Turkish pounds, which is significantly higher than the so-called psychological point of 1 dollar per 7.00 lira. Turkey`s official unemployment rate for the month of May, which has just been published, is 12.9%, which means that the August rate is most likely higher, especially due to the massive devaluation of the Turkish lira.