Turkey is going to hold snap elections in November. My piece on the outlook of the Turkish economy:
The recent general elections held in Turkey have left the AKP, the Justice & Development Party, without the possibility to form a one-party majority as it has happened since its first electoral victory back in 2002. Most notably, the HDP, a left-leaning party and strong advocate of the right of minorities – Kurds in particular – gained the sufficient amount of votes needed to enter the Turkish Assembly: there’s a 10% electoral threshold. We have already discussed the domestic consequences of the vote; on this occasion, we would like to tackle the important economic consequences that the elections might have, considering the recent development in the region i.e. the Turkish intervention against both the Kurdistan Workers’ Party (PKK) and the Islamic State (IS). After the elections, the Turkish lira slumped 5% and the Borsa Istanbul 100 Index opened with a 8.2% loss.
Read more @ http://bit.ly/1U3QHxD.