On the eve of a public holiday the average Turk will rush to the bank to stock up on cash and then queue up at ATMs to replenish supplies. Keeping dispensers stocked with notes is a logistical problem of gigantic proportions that keeps even the central bank awake. And Turkey has very long public holidays. Probably because civil servants are so badly paid, Turkish governments are inclined to be generous with time off. On occasions when bayrams, which are fixed through the lunar calendar and advance every year, coincide with national holidays, public holidays have been known to run to two weeks.
Schools close down.
The stock market stops functioning. Although private businesses and factories are under no obligation to close, most do anyway. GNP growth declines because exports fall and manufacturing activity declines. Spending sprees are a shot in the arm for inflation in which Turkey holds the world endurance record. The last bayram in March was a mere nine days and one banker who was not on holiday was Yapi Kredi Bank's new general manager, Naci Sigin.