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Wednesday, March 21, 2012

Turkey Peeks Under Mattress In Bid To Curb Deficit - WSJ.com

Turkey Peeks Under Mattress In Bid To Curb Deficit

-- Turkish government mulls new steps to persuade Turks to bank gold

-- Banks considering more interest-yielding gold accounts

-- Moves form one front in battle to curb current-account deficit

By Yeliz Candemir and Joe Parkinson

Of DOW JONES NEWSWIRES

ISTANBUL (Dow Jones)--Faced with a bloated current-account deficit that threatens to derail Turkey's rapid expansion, the Turkish government is foraging for savings in an old-fashioned corner of the economy: under the mattresses.

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