Friday, April 1, 2011

In Turkey Gold Beats Banks as Erdogan Fights Inflation Worries

Turkish Prime Minister Recep Tayyip Erdogan is struggling to persuade fellow Turks that their banks are as good as gold.

For every Turk who saved in a deposit account last year, three opted for gold or cash, a December MasterIndex survey showed. Those who deposit their lira at banks refuse to do so for more than a few months, according to the survey commissioned by MasterCard Worldwide.

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