If you follow business news around Europe this morning, you might note that the Turkish Central Bank raised its key interest rate from 17.75 percent.....to 24-percent.
Here's the thing.....no one around Turkey is really thinking about expansion or growing a business, or building hotels right now. So this interest deal, while it might sound BIG.....it's really not that big.
Business people will sit around and laugh over the conditions because the country is stalled and unable to project out any positive news for the next twelve months. Basically, people are sitting on their capital and limiting their costs as much as possible.
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