Turkish Stock Exchange collapses, while the lira plummets

Turkish Stock Exchange collapses, while the lira plummets

Ankara, June 9, 2015/ Independent Balkan News Agency

The shares of the bank of Erdogan’s enemy, Fethullah Gulen, skyrocketed

Four Christians in the Turkish Parliament

By Manolis Kostidis

Unrest in Turkey’s financial markets caused the outcome of the Turkish elections that ended the 13-year governance of the country by the AKP. The index of the Istanbul Stock Exchange fell by 5.63% while the Turkish lira was depreciated by 4.79% against the euro and 3.69% against the dollar.

The only share that had a large increase in its valuse, by 10.75%, was that of Bank Asya owned by the Movement of Hizmet of Imam Fethullah Gülen, who Recep Tayyip Erdogan considers as his greatest enemy (they used to be allies). \the Turkish State has tagged Gulen’s Movement as a terrorist organization. Besides, the Zaman newspaper that belongs to the same Movement is titled: “the people said enough to the palace, to the wastefulness and authoritarianism”.

The pro-government newspaper Sabah is entitled “ungovernable ballot box”, while the opposition newspaper speaks of a “fall”, having the photograph of Erdogan.

The atmosphere in the pro-Kurdish HDP is festive, since it broke the barrier of 10% with the help of the Turkish citizens abroad, winning 80 seats in the Turkish parliament. Thirty MPs of the HDP are women and this figure is unprecedented in the political history of Turkey.

Also after many decades, 4 Christian MPs were elected in the Turkish Parliament. Two Armenians and two Arab-Orthodox. The HDP elected a Syrian-Chaldaio Orthodox, Erol Dora, and an Armenian, Garo Paylan, who is one of the closest associates of Demirtas. The CHP is sending in Parliament an Armenian, Selina Özuzun Dogan, and so does the ruling AKP with the Armenian Markar Esayan. In 80 years of free elections there have been elected 24 Christian MPs.

Crucial for the future of Turkey is considered Tuesday’s meeting between President Recep Tayyip Erdogan and the president of the AKP Ahmet Davutoglu. The two men will have to agree how they will proceed to create the new government of the country.

Unconfirmed reports say Erdogan wants new elections while Davutoglu wants to examine the possibility of a coalition government.

The Turkish President will give Davutoglu the mandate to form a government and if he is unsuccessful the leaders of the other political parties will follow.

In Ankara many scenarios have surfaced. A cooperation of the AKP with Nationalist Action Party (MHP) was considered the most likely one. But the president of the Nationalists Devlet Bahceli with his statements excluded the possibility of a cooperation.

Selahattin Demirtas also ruled out a collaboration between HDP and AKP.

This is also why no one excludes the scenario of the three opposition parties CHP-MHP with the external support of the HDP for a salvation government with the main objective the weakening of Erdogan.

However, the Turkish president with a written statement called on all parties in this period to show a responsible attitude and stressed that “the people’s judgment is the most important”.

A scenario that is the wish of Turkey’s elite, but has a small probability, is an AKP-CHP coalition, that is a cooperation between the two major parties in Turkey.

Within 45 days Turkey has to find its new government, otherwise new election will be launched. The truth however is that after the election of June 7, Erdogan must put an end to his plans for changing the Constitution that would give him superpowers.

In Istanbul many confided in us that the in coming months will be ready the political movement that has the support of the former president of Turkey and close associate of Erdogan, Abdullah Gul, who reportedly disagrees with the policy of the Turkish president. This development might result in the future weakening of the AKP.