Turkey's President Erdogan calls snap elections for June

Turkey's President Erdogan calls snap elections for June

Turkey's President Erdogan calls snap elections for June

Deputy Prime Minister Bekir Bozdag on Wednesday said Turkey will enter a "new era" with the implementation of the presidential system after early elections planned on June 24.

Erdoğan announced the snap polls after a meeting with Nationalist Movement Party (MHP) chairman Devlet Bahçeli at the presidential complex in Ankara, a day after the latter called for snap elections to be held in August. Erdogan's Justice and Development Party, or AKP, and Bahceli's MHP are seeking to forge an electoral alliance.

"The state of emergency needs to be lifted immediately; you can not hold elections during an emergency rule".

"Even though the president and government are working in unison, the diseases of the old system confront us at every step we take", Erdogan said.

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"By calling snap elections for June, Erdogan is signaling that he believes his support, at least for the near future, has peaked".

Turkey has been continuing military operations in that country.

A government spokesman made the announcement on Wednesday and the vote will be the first after last year's referendum approved a change to the constitution and creation of an executive presidency. The yield on Turkey's benchmark bond fell some 10 basis points and the main stock index jumped more than 3 percent.

The idea of an early poll was initially proposed by nationalist allies. Such a slowdown could hurt Erdogan, who has built much of his reputation on his stewardship of the economy, above all his record of delivering roads, hospitals and public services to millions of pious poor and middle-class people. Amid double-digit inflation and a surging current account deficit, a sinking Turkish lira (TRY) and Erdogan's strictures on why the country should defy orthodox thinking by resisting interest hikes-leading observers to question whether the central bank de facto still has monetary independence-anxiety has built that the good times may soon no longer roll. "We came to the agreement that we should approach this early election positively".

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