Investing in Turkey - Garanti?

[kayakebab]

That's what I would do Sue, this country isn't getting another lira from me til this lots sorted out!
Keeping everything crossed it's all going to blow over, but not looking good.

[JohnF]

Ok. A compromise then ...

No need for compromise   

It's your money and you can do what you want with it - but UBT is right, most folks are bailing (or have already bailed) from the lira other than for day to day stuff and paying the bills.

While the lira keeps falling, anything you change has instantly lost value against the original currency.  It's a little bit like how a new car in the UK instantly loses value as soon as you leave the showroom.

Sort your account out when you're over and then keep an eye on the rates, as Colwyn said, November will be a very important month for the Turkish economy - the lira could go one way, or the other, very quickly. 

JF

[Lotty]

Very sound advice from you guys. The marvel of CBF yet again!

[KKOB]

I have a dear friend, Solicitor General Barrister Doctor Reverend Precious Ngbotingo who has always given me good advise in the past regarding my investments. I've sent him £100k so far and haven't heard from him for ages so I'm assuming he's now found a solution to my financial worries.

If you send me your UK account numbers, PINs, home address, telephone number, mobile number, mother's maiden name, first pet's name, I'll pass them on to him. I'm sure My Friend in Jesus, Precious would be delighted to take on any troublesome investment decisions on your behalf.

[kevin3]

  It's reported today that 59 foreign pilots have resigned from Turkish Airlines due to the drop in the value of the Lira.

[KKOB]

Not quite as dramatic as it sounds. 59 pilots out of a total of approximately 700 have resigned in the last 8 months. So, it's not a mass-resignation.

http://www.hurriyetdailynews.com/59-foreign-pilots-resign-from-turkish-airlines-in-eight-months.aspx?pageID=238&nid=88222

 

[kevin3]

 It was reported as fact, not drama.   A bit more factual than your dear friend.     

[Yoshi]

I read with interest about the changes the election may have but have to be honest and say that I don't quite understand what these potential problems could be and how it will affect our finances.
I would be grateful for any explanations to enable me to understand it better.
Many thanks

[Scunner]

So from your earlier post and this one, we gather you plan to invest your money in an economy you admit you don't understand?

Good luck with that...

[JohnF]

I read with interest about the changes the election may have but have to be honest and say that I don't quite understand what these potential problems could be and how it will affect our finances.

So, what you're saying is that you have no idea what is happening in Turkey outside the perimeter of your property in Uzumlu?  I thought you always did "research"?

Read the threads on here re the lira and have a look at any of the English language Turkish newspapers.

JF