​Turmoil in AKP sparks currency flash

TURKEY - In Brief 25 Nov 2020 by Atilla Yesilada

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Turmoil in AKP ranks is becoming very visible, as Erdogan allows MHP leader Bahceli to dictate policy for his beloved party and regime. As Covid-19 “patient” count jumps to 7,381/day Tuesday, I witness first protests in front of overcrowded hospitals .I think the sudden jump in dollar/TL was precipitated by locals, who sense that something is badly amiss in politics, which disturbance might break up the AKP-MHP coalition or lead to early elections. Actually, I attribute the onset of turbulence in the exchange rate to statements by Presidential Advisor Mr. Fahrettin Altun, who remarked that President Erdogan’s new policy orientation envisages “reasonable interest rates, which will not oppress the citizens”, which was widely interpreted as Erdogan granting CBRT governor Agbal only limited maneuvering room. Then came the resignation of the Founding Father and the elder statesman of AKP, Mr. Bulent Arinc, whose comments to the effect that Messrs. Osman Kavala and Selahttin Demirtas ought to be released, were loudly protested by President Erdogan. More interesting were comments by MHP leader Bahceli who called Arinc “an idiot”. Thus, Arinc’s resignation was interpreted as Erdogan’s total submission to Bahceli, who is known to be against judicial reform and very hardline against HDP and CHP. Bahceli insulted CHP Istanbul mayor Ekrem Imamoglu in the same speech “for lying about Covid-19 death figures” and reiterated his demand for CHP leader Kilicdaroglu to be removed from the Grand Assembly. It is clear to most voters that Erdogan must make a choice between reforms and Bahceli, and so far he is on the side of the latter.Moreover, allegations that Arinc’s resignation could pr...