If JohnF had been rather less pithy he might have said it ain't the smartest thing to decide on investing £25k based on what people on a forum might say.
I've been called many things Colwyn, but "pithy" is a first.
I thought I was being humorous but making the message clear. I could simply have said "are you effing nuts?"
After reading about the CHP's plan to
build a "mega" city in Malatya, I tried to come up with some pro's & con's for a non resident chucking a wedge into a Turkish savings account just now. I failed miserably on the pro's, mainly due to your excellent illustration which highlighted the reality of high interest rates and inflation.
The con's... in addition to your points, where do you start?
- The increasing volatility of the lira
- The likelihood of lower interest rates shortly
- Currency exchange fees
- Oh, did I mention the volatility of the lira?
Couldn't be arsed writing any more.
JF