Best of the Week
Most Popular
1. Gold vs Cash in a Financial Crisis - Richard_Mills
2.Current Stock Market Rally Similarities To 1999 - Chris_Vermeulen
3.America See You On The Dark Side Of The Moon - Part2 - James_Quinn
4.Stock Market Trend Forecast Outlook for 2020 - Nadeem_Walayat
5.Who Said Stock Market Traders and Investor are Emotional Right Now? - Chris_Vermeulen
6.Gold Upswing and Lessons from Gold Tops - P_Radomski_CFA
7.Economic Tribulation is Coming, and Here is Why - Michael_Pento
8.What to Expect in Our Next Recession/Depression? - Raymond_Matison
9.The Fed Celebrates While Americans Drown in Financial Despair - John_Mauldin
10.Hi-yo Silver Away! - Richard_Mills
Last 7 days
JOHNSON & JOHNSON (JNJ) Big Pharama AI Mega-trend Investing 2020 - 25th Jan 20
Experts See Opportunity in Ratios of Gold to Silver and Platinum - 25th Jan 20
Gold/Silver Ratio, SPX, Yield Curve and a Story to Tell - 25th Jan 20
Germany Starts War on Gold  - 25th Jan 20
Gold Mining Stocks Valuations - 25th Jan 20
Three Upside and One Downside Risk for Gold - 25th Jan 20
A Lesson About Gold – How Bullish Can It Be? - 24th Jan 20
Stock Market January 2018 Repeats in 2020 – Yikes! - 24th Jan 20
Gold Report from the Two Besieged Cities - 24th Jan 20
Stock Market Elliott Waves Trend Forecast 2020 - Video - 24th Jan 20
AMD Multi-cores vs INTEL Turbo Cores - Best Gaming CPUs 2020 - 3900x, 3950x, 9900K, or 9900KS - 24th Jan 20
Choosing the Best Garage Floor Containment Mats - 23rd Jan 20
Understanding the Benefits of Cannabis Tea - 23rd Jan 20
The Next Catalyst for Gold - 23rd Jan 20
5 Cyber-security considerations for 2020 - 23rd Jan 20
Car insurance: what the latest modifications could mean for your premiums - 23rd Jan 20
Junior Gold Mining Stocks Setting Up For Another Rally - 22nd Jan 20
Debt the Only 'Bubble' That Counts, Buy Gold and Silver! - 22nd Jan 20
AMAZON (AMZN) - Primary AI Tech Stock Investing 2020 and Beyond - Video - 21st Jan 20
What Do Fresh U.S. Economic Reports Imply for Gold? - 21st Jan 20
Corporate Earnings Setup Rally To Stock Market Peak - 21st Jan 20
Gold Price Trend Forecast 2020 - Part1 - 21st Jan 20
How to Write a Good Finance College Essay  - 21st Jan 20
Risks to Global Economy is Balanced: Stock Market upside limited short term - 20th Jan 20
How Digital Technology is Changing the Sports Betting Industry - 20th Jan 20
Is CEOs Reputation Management Essential? All You Must Know - 20th Jan 20
APPLE (AAPL) AI Tech Stocks Investing 2020 - 20th Jan 20
FOMO or FOPA or Au? - 20th Jan 20
Stock Market SP500 Kitchin Cycle Review - 20th Jan 20
Why Intel i7-4790k Devils Canyon CPU is STILL GOOD in 2020! - 20th Jan 20
Stock Market Final Thrust Review - 19th Jan 20
Gold Trade Usage & Price Effect - 19th Jan 20
Stock Market Trend Forecast 2020 - Trend Analysis - Video - 19th Jan 20
Stock Trade-of-the-Week: Dorchester Minerals (DMLP) - 19th Jan 20
INTEL (INTC) Stock Investing in AI Machine Intelligence Mega-trend 2020 and Beyond - 18th Jan 20
Gold Stocks Wavering - 18th Jan 20
Best Amazon iPhone Case Fits 6s, 7, 8 by Toovren Review - 18th Jan 20

Market Oracle FREE Newsletter

Nadeem Walayat Financial Markets Analysiis and Trend Forecasts

Turkey's President Wins Sweeping Powers in Cliffhanger Vote

Politics / Turkey Apr 17, 2017 - 05:41 PM GMT

By: STRATFOR

Politics

In an apparent cliffhanger victory, with challenges from the opposition still outstanding, the ruling Justice and Development Party (AKP) and President (and now party leader) Recep Tayyip Erdogan are claiming a hairline victory in a decisive referendum that will greatly empower the presidency. Some 48 million of 55 million eligible voters cast ballots on a raft of 18 constitutional amendments that will fundamentally alter the Turkish government, taking effect in the next scheduled election in 2019. With nearly all votes counted, the "Yes" vote garnered 51.34 percent of the vote with the "No" vote coming in close behind with 48.66 percent of the vote, according to state-run Anadolu Agency.


Though the main opposition Republican People's Party (CHP) is not conceding the vote and is contesting at least 37 percent of the votes counted, the AKP is claiming victory. Still, the poll has shown just how deeply polarized the Turkish electorate has become: Erdogan has eked out a victory despite losing the three largest cities in the vote — Istanbul, Ankara, and Izmir. The AKP's razor-thin lead is a big reason why Erdogan feels compelled to resort to extraordinary measures to consolidate power.

Constitutional referendums are common in recent Turkish history, with six notable polls having taken place since 1961. The tug of war between granting powers to the parliament, the judiciary, the executive and the military is a decadeslong struggle in Turkey. But the April 16 referendum enables the most sweeping changes yet to the division of power between the executive and legislative branches, heaping additional powers on the president in an unprecedented way in Turkey. The vote is a culmination of a yearslong effort by Erdogan to formalize some of the powers he had already encroached upon as president. He will absorb the powers of the now-eliminated prime minister — historically the more powerful of the two positions — and will be able eschew nonpartisan rules and lead his own political party, dismiss parliament, choose judges that were once selected by their peers, announce a state of emergency, and enact some laws by decree. Overall, the legislative and judicial branches of the Turkish government will have diminished oversight on the presidency. The changes also allow Erdogan to run for two more terms, setting him up for possible rule until 2029.

It is highly unusual for an electoral victory in Turkey to be claimed without winning the largest metropolises. Istanbul and Ankara have been reliably in the AKP camp for years and Izmir, once an opposition CHP stronghold, has been trending toward the AKP in recent elections. According to results from state-run Anadolu Agency, in Istanbul, the "No" vote led with 51.34 percent against 48.66 percent "Yes;" in Ankara, 51.14 percent "No" to 48.86 percent "Yes;" and in Izmir, 68.78 percent "No" to 31.22 percent "Yes." The "No" vote was unsurprisingly ahead in predominantly Kurdish districts in Turkey's southeast, but the margin was smaller than expected. In the Mediterranean city of Antalya the results were: 59.06 percent "No" to 40.94 percent "Yes" and in Mersin, 64.01 percent "No" to 35.99 percent "Yes." Meanwhile, in overseas voting, 59.06 percent voted "Yes" while 40.94 percent voted "No," according to Anadolu Agency.

While "No" campaigners are casting suspicion on Turkish Electoral Board's decision to count unsealed ballots, this has been a common occurrence in recent Turkish polls. Opposition parties supporting the "No" vote, CHP chief among them, publicly doubt the legitimacy of the polls. Considering the state of emergency in place since last July's coup attempt in Turkey, there was concern among "No" voters that the government would use its institutional influence to secure victory in the April 16 poll. Should the ruling party feel the need to take a stronger hand in quelling opposition to the results, it could also leverage the ongoing state of emergency. Turkey's National Security Council is expected to decide on whether to extend or end the state of emergency shortly after the poll. It has been renewed in three-month increments since last July.

Turkey's shift toward a more authoritarian system under Erdogan will no doubt elicit further condemnation from the European Union, but European powers also understand that they still need Turkey's cooperation in containing migrant traffic and in keeping a check on Russia. Turkish Prime Minister Binali Yildirim said last week that the government will revisit the stalled issue of EU visa liberalization for Turks and further threatened that Turkey's government could reassess the migrant deal with the bloc after the referendum. A more emboldened AKP following the vote will mean more friction in Turkey's already fragile negotiation with the European Union. As weather conditions improve and migrant traffic picks up, this will be a pressing concern for the European Union to manage with Turkey.

While the vote points to dramatic change for Turkey domestically in the long term, Turkey's foreign policy will remain largely unchanged. Regardless of a victory or defeat in the referendum, Turkey will still deepen its focus and presence in northern Iraq and Syria in an effort to contain Kurdish expansionism and face off with Iran in a broader proxy battle.

"Turkey's President Wins Sweeping Powers in Cliffhanger Vote is republished with permission of Stratfor."

This analysis was just a fraction of what our Members enjoy, Click Here to start your Free Membership Trial Today! "This report is republished with permission of STRATFOR"

© Copyright 2017 Stratfor. All rights reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis.

STRATFOR Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules