Erdogan's Turkey

FILE PHOTO: The President of Turkey, Recep Tayyip Erdogan, speaks at Chatham House in central London, Britain May 14, 2018. REUTERS/Henry Nicholls/File Photo
FILE PHOTO: The President of Turkey, Recep Tayyip Erdogan, speaks at Chatham House in central London
Thomson Reuters
By Dominic Evans and Birsen Altayli

ISTANBUL (Reuters) - President Tayyip Erdogan is driving Turkey "to the cliff" through ideological politics and a determination to control the central bank, the main opposition party's presidential candidate said on Wednesday as the lira hit new record lows.

Muharrem Ince, who seeks to end Erdogan's 15-year hold on power in next month's elections, said the central bank and other economic institutions must be able to operate independently.

Erdogan said this week he plans to take greater control of the economy after the June 24 presidential and parliamentary polls, comments which drove the lira to fresh record lows. It is down 15 percent against the dollar this year.

"He's taking the country to the cliff. The central bank needs to be independent, and the other economic bodies need to be autonomous. The rules need to operate," Ince told Reuters in an interview.

The victor in next month's election, held under a state of emergency imposed after a failed coup in 2016, will exercise sweeping new executive powers after Turks narrowly approved a constitutional overhaul in a referendum last year. The changes come into effect after the June vote.

Polls show Erdogan is comfortably the strongest candidate, though he could face a challenge if the presidential vote goes to a second round in July and his opponents rally around the other remaining candidate.

Ince, 54, a combative parliamentarian and former physics teacher, has energized his secularist opposition Republican People's Party (CHP) since he started campaigning and may emerge as the leading opposition candidate - although he faces competition from former interior minister Meral Aksener.

Aksener's nationalist Iyi (Good) Party and the CHP have joined with two other smaller parties in an opposition alliance for the parliamentary election. She and Ince are competing separately in the presidential vote.

"WIND OF CHANGE"

Ince said the president was driven by "ideological obsessions" and pushing Turkey in the wrong direction.

Erdogan, a self-described "enemy of interest rates", wants lower borrowing costs to boost credit and new construction, and has said the central bank will not be able to ignore the president's wishes. That has fueled concerns about the bank's ability to fight double-digit inflation.

Source : http://www.businessinsider.com/r-erdogans-policies-driving-turkey-to-the-edge-challenger-says-2018-5

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