Erdogan's Party Sweeps Back to Power in Turkey With Surprise Win
Isobel Finkel Selcan Hacaoglu Onur Ant
Turkey’s AK Party swept back into office in Sunday’s parliamentary elections, strengthening President Recep Tayyip Erdogan’s 13-year grip on power after a divisive campaign scarred by violence.
The Islamist-rooted group that Erdogan founded took about 49 percent of the vote and probably won 316 seats in the 550-member legislature, regaining the majority it lost in elections five months ago, according to official news agency Anadolu. It said all votes have now been counted, though the results aren’t official yet. The lira rose 3 percent against the dollar in early trading, and analysts said stocks and bonds will likely post gains too, as markets welcome an end to the political standoff.
It’s another triumph for a leader whose dominance in the Middle East’s biggest economy has polarized Turks and antagonized many allies. Since the inconclusive June vote, Turkey has resumed its war with Kurdish separatists and suffered a wave of Islamic State attacks. The violence alarmed investors, yet it appears to have persuaded voters to seek stability in a return to single-party government.
“Erdogan’s emphasis on security and instability is paying off,” Anthony Skinner, a director with U.K.-based forecasting company Verisk Maplecroft. “So more polarization, confrontation and no end in sight to intervention by the president.”
more:
http://www.bloomberg.com/news/articles/2015-11-01/turkey-s-ak-party-set-to-regain-majority-early-results-show
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