Cyprus-Forum.com

[Pyrpolizer]

Now if you want to learn how Turkish Banks could of calculate a personal or corporate loan to appear as if it were on 11.5% interest rate (like VP suggests) instead of the hidden true figure of 20% have a look here
http://www.garanti.com.tr/en/personal_b ... UID3fa95ad

And if you want to check whether the article is right in saying that
"
Turkey's banks are still churning out consumer loans at a 30% annual rate, probably to capitalize the interest on loans bearing an 18% interest rate."

Check here by pressing rates & fees-Expand all panels
http://www.garanti.com.tr/en/personal_b ... id2=200492
where the e-credit is charged at 29.3% annually whereas overdraft accounts at 4.5% per month!!!

Yep, so neither the 8.5% figure given by VP was true, nor the 11.5%,

I guess at the compromise figure of 20% interest rates the economy of Turkey must be thriving then

However you dress it, its still not 30% which make the article worthless therefore not worth debating.

Make sure you understand what you read VP.
The fact is and it has been PROVEN that the article is very accurate. It says that they charge 30% on consumer spending like e-credit (what's that the visa card??) and overdraft accounts probably to make some profit because the standard loans of 18% do not seem so profitable. After all how could a 18% loan be profitable when the overnight interest rate is 8.5% compared with 0.48% in the UK.

[Viewpoint]

Now if you want to learn how Turkish Banks could of calculate a personal or corporate loan to appear as if it were on 11.5% interest rate (like VP suggests) instead of the hidden true figure of 20% have a look here
http://www.garanti.com.tr/en/personal_b ... UID3fa95ad

And if you want to check whether the article is right in saying that
"
Turkey's banks are still churning out consumer loans at a 30% annual rate, probably to capitalize the interest on loans bearing an 18% interest rate."

Check here by pressing rates & fees-Expand all panels
http://www.garanti.com.tr/en/personal_b ... id2=200492
where the e-credit is charged at 29.3% annually whereas overdraft accounts at 4.5% per month!!!

Yep, so neither the 8.5% figure given by VP was true, nor the 11.5%,

I guess at the compromise figure of 20% interest rates the economy of Turkey must be thriving then

However you dress it, its still not 30% which make the article worthless therefore not worth debating.

Make sure you understand what you read VP.
The fact is and it has been PROVEN that the article is very accurate. It says that they charge 30% on consumer spending like e-credit (what's that the visa card??) and overdraft accounts probably to make some profit because the standard loans of 18% do not seem so profitable. After all how could a 18% loan be profitable when the overnight interest rate is 8.5% compared with 0.48% in the UK.

Do you know what a free economy is?

look at the interest rates of credit cards in the UK;

http://www.money.co.uk/credit-cards/cre ... -rates.htm

[Pyrpolizer]

It doesn't change the fact that the article is very accurate

[Viewpoint]

It doesn't change the fact that the article is very accurate

Its crap, rubbish not worth the time to read it. No need to respond you obviously know nothing about economics and any further discussion will be fruitless.

[Pyrpolizer]

Yes I agree with you it's crab, it's rubbish, not worth the time to read it.
Happy now?

[Viewpoint]

Yes I agree with you it's crab, it's rubbish, not worth the time to read it.
Happy now?

Thank you.

[Pyrpolizer]

You are welcome.

[Demonax]

Turkey is just a step away from a sovereign debt crisis. A massive trade deficit, a currency crisis, high public debt leadng to high inflation and unemployment are an exact mirror of what Spain went through during the year it's real estate bubble burst.

Turkey is only being kept afloat by the Saudi banks. Once they pull the plug on Erdogan it'll all be over for the so-called Turkish economic 'miracle'.

[Viewpoint]

Turkey is just a step away from a sovereign debt crisis. A massive trade deficit, a currency crisis, high public debt leadng to high inflation and unemployment are an exact mirror of what Spain went through during the year it's real estate bubble burst.

Turkey is only being kept afloat by the Saudi banks. Once they pull the plug on Erdogan it'll all be over for the so-called Turkish economic 'miracle'.

Ho no not another doom and gloom merchant, we have been hearing this for years and years it just get real tiresome and makes you look stupid.

[Demonax]

Ho no not another doom and gloom merchant, we have been hearing this for years and years it just get real tiresome and makes you look stupid.

No we haven't. All we've been hearing for the last few years is that Turkey has built a successful economy which should be a model for other Islamic nations. Only now are people beginning to question how Turkey achieved this economic 'miracle' and it turns out it's been built on the back of an unsustainable credit bubble and huge external debts.