World

Turkey's Erdogan appoints his son-in-law as finance minister

Turkey's Erdogan appoints his son-in-law as finance minister

Turkish President Tayyip Erdogan's son-in-law and newly appointed Treasury and Finance Minister Berat Albayrak (L) and Interior Minister Suleyman Soylu stand next to each other during a presser at the Presidential Palace in Ankara, Turkey July 9, 2018.

He won last month's election with 52.6 per cent of the vote, ushered in the executive presidency that ends parliamentary governance and boosts the powers of the formerly ceremonial presidency.

President Recep Tayyip Erdogan Tuesday promoted Turkey's army commander to overall armed forces chief in a radical military shake-up after the outgoing top general was given the post of defence minister.

Erdogan´s supporters see the changes as just reward for a leader who has put Islamic values at the core of public life, championed the pious working classes and overseen years of strong economic growth.

Speaking to journalists after the ceremony, Erdogan said: "Everything was good in front of the nation, I hope it will be better in the future".

The introduction of the new presidential system marks the biggest overhaul of governance since the Turkish republic was established on the ruins of the Ottoman Empire almost a century ago. "With the power granted to us by the new presidential system, we will get quicker and stronger results".

The crackdown has gone beyond the alleged perpetrators of the coup - followers of the US-based exiled cleric Fethullah Gülen - to encompass dissidents of all stripes.




Dundar played a key role in thwarting the coup attempt.

ECONOMIC CONTROL Erdogan will take the oath of office in parliament at 4 pm (1300 GMT), before attending a ceremony two hours later at the huge presidential palace he has constructed in the capital. Previously, the prime minister -now a defunct post- formed the government by making elected members of parliament ministers.

Erdogan will this week immediately turn to foreign policy, visiting northern Cyprus and Azerbaijan, followed by more challenging encounters at a North Atlantic Treaty Organisation summit in Brussels where he will meet US President Donald Trump and other leaders. The president will be able to select his own cabinet, regulate ministries and remove civil servants, all without parliamentary approval.

"If we see market-friendly names being appointed (to the cabinet) we might see an even more positive response for the lira and the opposite is true as well", said Inan Demir, senior emerging markets economist at Nomura International.

"Most powers will be concentrated in his hands, there will no longer be a prime minister, and nearly none of the checks and balances of liberal democracies will be present".

"We will take our country much further by solving structural problems of our economy", he said on Saturday, referring to high interest rates, inflation and the current account deficit.

The country officially switched to a new presidential system of government on Monday. Erdoĝan has repeatedly clashed with strategic allies such as the United States and the European Union in recent years over the war in Syria, Turkey's accession to the EU, human rights abuses by Ankara, Europe's failure to support Turkey during the coup attempt, and rising Islamophobia in Europe. Ties with the United States and other North Atlantic Treaty Organisation partners also frayed, but Turkey remains crucial for any hope of stability in Syria and Iraq and curbing refugee flows to Europe. He also promised to "leave behind a system that cost the country heavily because of the political, social and economic chaos it caused in the past", according to Hurriyet Daily News.


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