Archives Turkey - Page 37 of 44 - New Eastern Outlook

During the presidential election campaign, Erdoğan’s main rival, the leader of the opposition People’s Alliance block Kılıçdaroğlu, stated in his anti-Russian rhetoric that in case of his victory he would remind the Russians about Turkey’s membership in NATO. However, nobody in Moscow has forgotten that Turkey, either with Erdoğan or without him still (since February 1952) remains a member to the North Atlantic Treaty. Kemal Kılıçdaroğlu failed to provide a well-reasoned explanation for his reminders, and now, after his defeat, he and all other leaders of the Republican People’s Party have resigned in connection to their failure…

As many experts had predicted, President Recep Tayyip Erdoğan beat his rival in the Turkish presidential elections in a second round of voting, and is set to be sworn in for his third term as president. His triumph after a close-run first round has been celebrated both in Turkey and abroad, but the 69-year old populist and Islamist leader, who has been in power for two decades, faces serious challenges as he begins his new five-year term. In effect, Erdoğan has radically changed Turkey’s political system, transforming a secular state with a multi-party parliamentary system, in which religion played…

The Turkish lira plunged to a new historic low after Erdoğan had won the second round of the presidential election, according to the Spanish daily newspaper La Vanguardia (today the dollar is worth 20 lira, but Western analysts predict that there will be another 40% drop, with the dollar equaling 28 lira). With inflation skyrocketing, Turkey’s president is pursuing a low-rate monetary policy (8.5%), which contradicts the theory of most economists. Why the Turkish lira is plummeting against the dollar as a result of the election is obviously not difficult to say. The reason is simple – the United States and the world financial institutions (stock markets)…