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Speaking late on Tuesday during an Iftar dinner, the evening meal with which Muslims break their daily fast during Ramadan, Erdogan said banks were growing rich on high commissions and urged people to live within their means.
"Don't get these credit cards," he said at the dinner with families of war veterans and fallen soldiers. "Who is paying this money, it is not the rich but the poor. They die to get a credit card. They show off with it. Before the month's end the money finishes ...
We have to thwart this game together." Erdogan and members of his government have accused speculators and a "high-interest-rate lobby" of stoking volatility in financial markets to make a quick profit at the expense of the Turkish economy.
Erdogan, who repeatedly said last year he wanted real interest rates of zero percent, vowed last month to "choke" speculators growing rich off "the sweat of the people", urging Turks to put their money in state not private banks."I didn't say "interest rate lobby" recently for nothing. I say these things because I know something," Erdogan said.