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☆ Erdogan criticises top Turkey court, stoking 'judicial crisis'
▼ + stars: | 2023-11-10 | by ( Ece Toksabay | ) www.reuters.com time to read: +4 min

Murat... Acquire Licensing Rights Read moreANKARA, Nov 10 (Reuters) - Turkish President Tayyip Erdogan waded into a brewing judicial crisis on Friday, criticising the Constitutional Court for "many mistakes" and backing an unprecedented challenge to it by an appeals court, as opponents marched in Ankara. In a twist - which critics said highlighted the diminished state of Turkey's legal system - the top appeals court said the Constituional Court's ruling was unconstitutional. "The Constitutional Court cannot and should not underestimate the step taken by the Court of Cassation on this matter," he said. They were headed to the appeals court and video showed they were briefly delayed by police. "The Court of Cassation's backlash (...) is an open and combative attack against the Constitutional Court," said Bertil Oder, professor of constitutional law at Koc University.

Persons: Tayyip Erdogan, Ozgur Ozel, Mustafa Kemal Ataturk, Murat, Tayyip Erdogan waded, Erdogan, Osman, Bertil Oder, intimidates, Ezgi Erkoyun, Jonathan Spicer, Emelia Sithole Organizations: Republican People's Party, Cassation, Constitutional, AK Party, Union, Koc University, Thomson Locations: Ankara, Turkey, ANKARA, Uzbekistan

☆ Not optimistic about Turkey's inflation outlook: Economist
▼ + stars: | 2023-07-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNot optimistic about Turkey's inflation outlook: EconomistSelva Demiralp from Koc University attributes the cooling of Turkey's inflation figures in June to base effects, and cautions against being too optimistic.

Persons: Selva Organizations: Koc University

☆ Turkey's Erdogan appoints a former Goldman executive as its new central bank chief
▼ + stars: | 2023-06-09 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

Exterior of the Turkish Central Bank, known as Turkiye Cumhuriyet Merkez Bankasi in Ankara. Turkey's President Recep Tayyip Erdogan has appointed a former Wall Street banker Hafize Gaye Erkan as the country's new central bank governor — another move that could potentially mark a policy pivot away from economic unorthodoxy. Erkan, Turkey's first female central bank chief, was a former managing director at Goldman Sachs and co-CEO at First Republic Bank. She is also Turkey's fifth central bank governor in four years. The caveat would lie in how much autonomy the central bank could exercise, and to what extent —something that Demiralp says investors will have to wait and see.

Persons: Recep Tayyip Erdogan, Hafize Gaye Erkan, —, Turkey's, Goldman Sachs, Mehmet Simsek's, Selva Demiralp, Demiralp Organizations: Turkish Central Bank, Wall Street, First Republic Bank, Princeton, Koç University, CNBC Locations: Ankara, U.S, Istanbul

The central bank's first female governor, Erkan is also its fifth chief in four years, underlining the challenge she may face delivering a lasting policy turnaround after Erdogan has all but stamped out the bank's independence in recent years. Analysts now expect Turkey's central bank to hike interest rates to between 20% and 25% from 8.5% as soon as this month. ORTHODOX FINANCE MINISTERErdogan, a self-proclaimed "enemy" of interest rates, has pressed the central bank to deliver stimulus in recent years and has been quick to replace its governor. The central bank slashed its policy rate to 8.5% from 19% in 2021, leaving real rates deeply negative and the lira largely managed by dozens of regulations covering credit and foreign exchange. But the last central bank governor to raise rates, Naci Agbal, was fired in 2021 after less than five months on the job.

Persons: Tayyip Erdogan, Hafize Gaye Erkan, Goldman Sachs, Erdogan's, Erdogan, Kavcioglu, Selva Demiralp, Mehmet Simsek, Simsek, Erkan, Naci Agbal, Marsh, Kathryn Wylde, Wylde, Ali Kucukgocment, Jonathan Spicer, Daren Butler, Cynthia Osterman, Hugh Lawson Organizations: Lira, First Republic Bank, Official Gazette, Koc University, U.S . Federal Reserve, Princeton University, First, JPMorgan, Analysts, FINANCE, Greystone, Partnership, New, Thomson Locations: ISTANBUL, United States, unorthodoxy, Erkan, U.S, New York City

☆ Erdogan survived the biggest test of his political career. What’s next?
▼ + stars: | 2023-05-29 | by ( Nadeen Ebrahim | ) edition.cnn.com time to read: +7 min

Official results showed Erdogan winning with 52.1% of the vote, while opposition leader Kemal Kilicdaroglu emerged with 47.9%. Murat Somer, a political science professor at Koc University in Istanbul, expects a hardened approach by Erdogan towards the opposition and his critics. “[Erdogan is] likely to continue his unorthodox economic policies because these actually serve his interests,” Somer told CNN. Becky Anderson's full interview with Turkish President Erdogan 20:52 - Source: CNNKorhan Kocak, an assistant professor of political science at New York University Abu Dhabi in the United Arab Emirates, worries about Erdogan’s moves after the election. And Erdogan is the man that delivered that to them.”Cagaptay said that Erdogan’s foreign policy is unlikely to change.

But for the next two weeks, he may become the most important figure in Turkish politics, potentially deciding President Recep Tayyip Erdogan’s political fate. Preliminary results from the YSK showed Erdogan as having received 49.51% of the vote, while Kilicdaroglu had 44.88%. Ogan, the third candidate, received 5.17%, enough to swing the runoff vote in favor of either of the candidates. But his political career began with the far-right Nationalist Movement Party (MHP), where he spent six years before splitting with it, partly due to its growing closeness with Erdogan’s AK Party, according to Turkish media. Formerly in the opposition, the MHP joined the People Alliance that is led by Erdogan’s AK Party in this election.

☆ A change in Turkish leadership might not spell the end of ties with Russia
▼ + stars: | 2023-05-08 | by ( Nadeen Ebrahim | ) edition.cnn.com time to read: +7 min

The strengthening ties between Erdogan and Putin have caused jitters in the West, with some watching the upcoming elections with anticipation of a possible Erdogan exit. That makes Russia among Turkey’s biggest trade partners. The European Union, as a bloc, however remains Turkey’s largest trade partner, with bilateral trade reaching around $219 billion, according to the European Commission. But while relations with the EU might improve if the opposition wins, the road may be longer and more challenging with the US, experts say. “When we mention Turkey’s relationship with the West… we sometimes take both ends of the Atlantic (as one),” Isci said.

☆ Analysis: In Turkey, an election reckoning for the rise and fall of Erdogan's economy
▼ + stars: | 2023-05-08 | by ( Jonathan Spicer | ) www.reuters.com time to read: +8 min

The May 14 vote, which lands during the Turkish Republic's centenary year, is Erdogan's biggest test yet. At the same time, a global reversal in market liquidity left Turkey and other emerging markets starved for funding. But the economic crisis was damaging. This trend accelerated in 2013, wiping out big gains made in 2006-2010 during Erdogan's first decade in charge. "If Erdogan wins the election and continues his economic policy it will come to a complete crash at one point.

☆ Turkey general election 2023 guide: what you need to know
▼ + stars: | 2023-05-01 | by ( Nadeen Ebrahim | ) edition.cnn.com time to read: +9 min

And even if Kilicdaroglu wins the election, some analysts say Erdogan may not hand over power to his successor without a struggle. Here’s what you need to know about the vote that could become a pivotal moment in Turkey’s modern history:How Turkey’s elections workTurkey holds elections every five years. Parliamentary elections take place at the same time as the presidential elections. Four candidates are running for this year’s presidential election. CHP Istanbul mayor candidate Ekrem Imamoglu then went on to win the election re-run, dealing a blow to Erdogan.

☆ The damage from Turkey earthquake is 'excessive,' professor says
▼ + stars: | 2023-02-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe damage from Turkey earthquake is 'excessive,' professor saysSelva Demiralp, professor of Economics at Koc University, discusses the impact of the earthquake on Turkey's economy and the need for international aid.

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