Investment flooding to Turkey in face of European crisis

Investors increasingly see Turkey as a safe haven amid the crisis in Europe triggered by Greece and are voting with their wallets. Turkey's growth rate, budget deficit, and public debt make it seem more and more attractive. Portfolio investments in Turkey rose to $14.8 billion in the first five months of this year, and foreign investors bought 3.7 billion Turkish liras of bonds from the Treasury. Bond interest rates also fell from 9.5 percent to 8.5 percent.