Turkey is experiencing a credit boom ahead of the local elections, with concerns of a potential devaluation of the Turkish Lira. Initial results indicate a significant drop in votes for the ruling AK Party, with the main opposition CHP leading nationwide. CHP is set to win major cities like Istanbul, Ankara, and Izmir, marking a historic victory. CHP leader Ozel emphasizes the party's broad appeal to different democratic factions, signaling a shift in Turkish politics.
The possibility of CHP winning in the conservative Faith district of Istanbul is leading to such jokes — although in the most recent results, AKP is ahead again https://t.co/OFNbWgZJns
NEW: Turkey’s CHP is winning a nationwide election for the first time IN 47 YEARS. Preserving 14 municipalities it has and adding 12 more municipalities to its ranks. https://t.co/HoEL8asqPz
NEW: Turkey’s CHP is winning a nationwide election for the first time IN 44 YEARS. Preserving 14 municipalities it has and adding 12 more municipalities to its ranks. https://t.co/HoEL8asqPz
“We were the social Democratic Party before but are now the party of all democrats: conservative democrats, Kurdish democrats, nationalist democrats, etc.” (What I gathered with my faulty Turkish from his speech on TV) https://t.co/Cokm8kBYMg
Turkish opposition CHP’s victorious chairman Ozgur Ozel says the electorate decided to create “a new electoral map” after 22 years of AKP rule. "Today, the voters decided to establish a new politics in Turkey,” he said. “There are no losers in this one” https://t.co/mRGynph7fN
CHP leader Ozel says election result marks a turning point in Turkish politics and shows the CHP is no longer the party of the secularist/Westernized coasts. https://t.co/FSyEyzXd0J
Powerful and unifying message from CHP leader Özgür Özel who says he doesn’t want to pit one part of Turkey against another #Turkey
Erdoğan has been fighting rampant inflation by imposing political control on the Lira, which is like pouring water on a gas flame. In Istanbul, there were so many signs of monetary escape - physical crypto shops, hotels accepting Euros by default, taxis asking for non-Lira cash. https://t.co/eJ8N6xEvTw
BIG: Turkey's ruling party is set to lose all FIVE LARGEST CITIES of the country to the Turkish opposition in mayoral elections according to the initial results: - Istanbul - Ankara - Izmir - Bursa - Adana https://t.co/Mu1RTWeBil
BIG: Turkey's opposition party CHP is extending its gains, moving 1.5% ahead of the ruling AK Party NATIONWIDE with 23% of the votes counted. CHP: 39.44% AKP: 38.09% https://t.co/S7othCIuZw
BREAKING - Turkish main opposition CHP votes surpasses the ruling AK Party NATIONWIDE. CHP: 38.71% AKP: 38.32% 19 percent of the ballots counted in municipal elections. THIS IS HUGE. Source: Anadolu Agency data https://t.co/mdLxvjwk4H
CHP, açılan sandıklara göre ilk kez AK Parti'nin önünde görünüyor. https://t.co/dSRg7peDtW
BIG: Initial results indicate Turkey's ruling AK Party is likely to post huge drop in its votes nationwide https://t.co/isKedhvSwd
Ahead of last year's elections, Argentina's gov't did massive pump-prime spending, causing imports (red) to balloon and big depreciation pressure on the Peso. Deep recession is now unwinding that distortion. None of this would be necessary if Argentina just let the Peso float... https://t.co/8szGaY2gsu
From #PKK to corridor project: Ambitious agenda awaits #Turkey’s Erdogan in Iraq By @barinkayaoglu https://t.co/RKZpC8UGUl
Recep Tayyip Erdoğan seeks to wrest control of Istanbul from Turkish opposition https://t.co/fyuK18qk5p via @ft
Recep Tayyip Erdoğan seeks to wrest control of Istanbul from Turkish opposition https://t.co/OeLpPS84yv
Erdoğan seeks to wrest control of Istanbul from Turkish opposition-ft
Istanbul top prize as Turkey votes in local polls #ARYNews https://t.co/8nhPXMJkDD
#NewsAlert | Polls open in Turkey local elections: AFP | reported by news agency AFP
From PKK to corridor project: Ambitious agenda awaits Turkey’s Erdogan in Iraq, @barinkayaoglu writes https://t.co/lXdH5ys5N0
Erdogan shows up at Hagia Sophia for prayers tonight as Turkey heads to nationwide mayoral elections tomorrow https://t.co/2kTEjqSbvt
Turkey is in a humongous credit boom. This kind of pump-priming also happened before the May '23 election, ending in devaluation of Turkish Lira. That's also what will happen now. This kind of stimulus sucks in lots of imports and widens the trade deficit. Devaluation is coming. https://t.co/2zP7DgGEJk