It's a fair point. If it dropped to 1% (fairly unlikely in the foreseeable) it would be absolutely devastating for many expats - but forget dropping to 1% for now, what about it dropping by 1%..? Interest rates drop a lot more than they rise (in Turkey) and 30,000 lira in an account at 10% will make (before tax) 3,000 lira per year (250 lira/month or if you prefer, £89 per month at current exchange rate). At 9%, 2700 lira - 225 lira per month - £80.35.
Now, a 1% drop may only equate to about £9 less a month, but one thing we do know is how many expats who's life in the sun was to be terminated by the (then compulsory) SGK health cover @ £20 per month. Precarious existence, living on an ever diminishing interest rate.
