Erdogan has appointed the Finance Minister of Turkey, his son

It is reported that Melvut Cavusoglu, appointed to the post of Turkish Foreign Minister, the Interior Minister Suleyman Soylu, the Justice Minister Abdulhamit Gul and the Treasury and Finance Minister Berat Albayrak have filed an application on the refusal from the MP mandate.

Earlier, the government issued a decree adjusting Turkey's laws to the new presidential system that comes into effect with the elections. He said it did away with a "system that heavily cost our country through political, social and economic chaos".

Turkey's Tayyip Erdogan will fulfil a long-held ambition on Monday when he is sworn in as president with sweeping new powers over a country he has dominated and reshaped during his 15-year rule.

Mr Erdogan is now the country's most powerful leader since Ataturk: modern Turkey's secular founding father, who saw Turkey as part of the west.

A ceremony at the presidential palace that will follow later on Monday was scheduled to be attended by dozens of foreign leaders and dignitaries, including Russian Prime Minister Dmitry Medvedev, Venezuelan President Nicolas Maduro and Qatari Emir Sheikh Tamim bin Hamad Al Thani. Marc Pierini, a former European Union ambassador to Turkey and a visiting scholar at Carnegie Europe, said Erdogan's new powers would effectively make him a "super-executive president".

Erdogan is also expected to form his government on July 9, shortly after he takes the oath of office.

The executive system of government that began with Erdogan's swearing-in scraps Turkey's parliamentary governance structure and boosts the powers of the formerly ceremonial presidency.

Turkish Lira, #TRY, sinks as #Erdogan Names Son-in-Law as Economy Chief...

Following the approval of constitutional changes in an April 2017 referendum allowing the president to retain his/her party membership, that May Erdogan was restored as AK Party chairman by a vote at its third Extraordinary Congress.

Investors have previously been anxious about the independence of the Central Bank of the Republic of Turkey, after President Recep Tayyip Erdogan said he wanted to take more responsibility in his country's monetary policy.

The appointment of Albayrak, the husband of Erdogan's elder daughter Esra and formerly energy minister, came as a surprise, with no place for Mehmet Simsek, the former deputy prime minister for the economy trusted by markets.

The lira, which is down some 16 percent so far this year and has been battered by concern about Erdogan's drive for lower interest rates, firmed to 4.5160 against the dollar by 1016 GMT, its highest since mid-June.

The AKP failed to win a majority in legislative elections and will need support from its allies in the right-wing Nationalist Movement Party (MHP) which could push it into more hardline policies.

(Copyright © 2015. All Rights Reserved.)
 
Recommended

Perisic hails 'dream' goal as Croatia reach final
Croatia, a country of about 4 million people, came to a standstill as fans watched the game on screens in squares and cafes. And the Liverpool defender cheekily said that it has something to do with the parents across the country.

Tour de France: Chris Froome gains on rivals as jeering fades
Thomas, who wore yellow for four days previous year , said that he was not bothered by the... "You probably won't believe me but I didn't even think about it", he said of yellow.

Ontario woman becomes accidental auto thief after key fob mix-up
The owner said he had ducked into Walmart and returned to find his vehicle missing from the parking lot, according to police. The woman drove the auto around for two weeks, then tried to return it to the rental vehicle company, police say.

Rafael Nadal edges del Potro to set Novak Djokovic clash — ATP Wimbledon
There was a look of glee in Del Potro's sometimes sad eyes, and his lumbering between-points walk had a bit more energy to it. That blip was enough for Nadal, chasing an 18th Grand Slam title, to surrender his first set of the championships.

Fernando Torres has confirmed which club he will play for next
He announced that he is joining Sagan Tosu as a free agent after leaving Atletico Madrid last month. In fact, he is one of the most experienced Premier League strikers still playing today.

Israel Aims to Launch Moon Lander in December
For the first time in its history, Israel will have a spacecraft on the moon next year, the SpaceIL corporation announced Tuesday. It will then ignite its engines and reduce its speed to allow the moon's gravity to pull it in, and will begin orbiting it.

Theresa May hopes Donald Trump visit will boost US-UK links
The issue is 'Do they have freedom to protest, freedom to assemble and should they be allowed to do so? But that could change. After the visit , Trump will decamp to Finland for a one-on-one with Russian President Vladimir Putin on July 16.

Trump brands Germany a "captive of Russian Federation ", days before he meets Putin
And after that heated exchange, the two leaders - Merkel and Trump - actually met one-on-one for a private meeting. After the two-day summit in Brussels , Trump will meet Russian President Vladimir Putin in Helsinki on Monday.

Wimbledon Roger Federer feels terrible after shock exit to Kevin Anderson
Raonic never broke Isner's serve, and while Isner broke Raonic's serve just three times, it was just enough to move on. Anderson took his opportunity, despite having to save three break points, to seal it in majestic fashion with an ace.

Tampa Bay Buccaneers: Supplemental Draft may provide answers at cornerback
Through three seasons in Kalamazoo, Beal amassed 92 tackles, 19 passes defended, two interceptions, and one forced fumble. Those first 10 teams all submit blind bids if they wish to select any of the players in the current round.

Trump rails against Germany, demands allies double North Atlantic Treaty Organisation spending
Lieu went one step further, drafting an illustrated message to mock the president for his hostile comments to USA allies. We have a fundamental disagreements on principles and objectives between Trump and the Europeans.

Jones snatches 1st Cup win in crash-filled race at Daytona
STAGE TWO: Stenhouse won the second stage over Michael McDowell as the field, decimated by two big wrecks, finished lap 80. I'll take the credit for my team, and we'll go to Talladega, and we'll wreck everybody that throws a bad block like that".

Korea approves rare screening of N. Korea films
Pompeo himself reportedly laughed when asked about the CD last week but did not confirm or deny the South Korean newspaper report. Kim has met Xi twice in the lead-up to his June summit with Trump and the third to brief Xi on the outcome of the talks.

Israeli leader Netanyahu visits Putin in Russian Federation ahead of Trump summit
On June 24, Israel's military said it launched a Patriot missile at an incoming drone from Syria , which turned away unscathed. Israel has warned Iran, which is allied with the Syrian government, against building up a military presence on its doorstep.

Croatian and English fans react to the FWC semi
Most residents are confident that the Three Lions will beat Croatia and move one step closer to a shot at silverware. Croatia, who have reached the final for the first time in their history, will play France on Sunday.


More News

News
More News