ISTANBUL -- The Turkish parliament on Thursday approved placing the
entire country under a three-month
state of emergency, granting President Recep Tayyip Erdogan added powers to pursue post-coup crackdowns on political opponents.
The move is raising concerns that the suppression will reach the economic arena, scaring away foreign investment the country desperately needs. Ankara last announced a state of emergency in 2002, but only over the Kurdish rebel stronghold of southeastern Turkey.
The order expands the president's power, allowing him and his cabinet to bypass parliament and rule by decree. The constitution allows the government to suspend basic rights and freedoms during a state of emergency.
Erdogan blames U.S.-based cleric Fethullah Gulen for the failed putsch that began Friday night. He had been cracking down on financial institutions and newspapers linked to his political rival even before the incident, and the government on Monday halted operations of Islamic lender Bank Asya, which it seized last year.
The government could also take over businesses owned by the military pension fund, including a steel company and an auto assembly plant, in the name of structural reforms. The armed forces made a number of blunders during the failed uprising, such as letting the rebellious faction rise up in the first place and capture the chief of the military.
Foreign investors, who value the rule of law and transparent policy, will likely flee Turkey if the government continues to arbitrarily seize private property. The country has a current-account deficit amounting to about 4.5% of gross domestic product. With a low saving rate, it relies heavily on foreign funds to fuel consumption and investment needed for economic growth.
The lira hit its weakest level on record against the dollar Wednesday as foreign investors dumped the Turkish currency.
"This measure is in no way against democracy, the law and freedoms," Erdogan said Wednesday, stressing that the state of emergency will have no impact on free economic activity. Deputy Prime Minister Mehmet Simsek also sought to dispel investor concerns, explaining Thursday that the government will not bypass parliament for normal laws.
But most Western countries remain skeptical. The state of emergency must be "limited to the absolutely necessary duration and then ended immediately," German Foreign Minister Frank-Walter Steinmeier said on Wednesday.
Ankara is conducting a massive purge of suspected Gulenists from the military and government agencies, and over 60,000 have either been detained or sacked so far. It has also issued a travel ban for university professors and researchers, while demanding those abroad return home as soon as possible. Some 22,000 educators have been fired.
Source: http://asia.nikkei.com/Politics-Economy/Policy-Politics/Turkish-parliament-approves-sweeping-powers-for-Erdogan
state of emergency, granting President Recep Tayyip Erdogan added powers to pursue post-coup crackdowns on political opponents.
The move is raising concerns that the suppression will reach the economic arena, scaring away foreign investment the country desperately needs. Ankara last announced a state of emergency in 2002, but only over the Kurdish rebel stronghold of southeastern Turkey.
The order expands the president's power, allowing him and his cabinet to bypass parliament and rule by decree. The constitution allows the government to suspend basic rights and freedoms during a state of emergency.
Erdogan blames U.S.-based cleric Fethullah Gulen for the failed putsch that began Friday night. He had been cracking down on financial institutions and newspapers linked to his political rival even before the incident, and the government on Monday halted operations of Islamic lender Bank Asya, which it seized last year.
The government could also take over businesses owned by the military pension fund, including a steel company and an auto assembly plant, in the name of structural reforms. The armed forces made a number of blunders during the failed uprising, such as letting the rebellious faction rise up in the first place and capture the chief of the military.
Foreign investors, who value the rule of law and transparent policy, will likely flee Turkey if the government continues to arbitrarily seize private property. The country has a current-account deficit amounting to about 4.5% of gross domestic product. With a low saving rate, it relies heavily on foreign funds to fuel consumption and investment needed for economic growth.
The lira hit its weakest level on record against the dollar Wednesday as foreign investors dumped the Turkish currency.
"This measure is in no way against democracy, the law and freedoms," Erdogan said Wednesday, stressing that the state of emergency will have no impact on free economic activity. Deputy Prime Minister Mehmet Simsek also sought to dispel investor concerns, explaining Thursday that the government will not bypass parliament for normal laws.
But most Western countries remain skeptical. The state of emergency must be "limited to the absolutely necessary duration and then ended immediately," German Foreign Minister Frank-Walter Steinmeier said on Wednesday.
Ankara is conducting a massive purge of suspected Gulenists from the military and government agencies, and over 60,000 have either been detained or sacked so far. It has also issued a travel ban for university professors and researchers, while demanding those abroad return home as soon as possible. Some 22,000 educators have been fired.
Source: http://asia.nikkei.com/Politics-Economy/Policy-Politics/Turkish-parliament-approves-sweeping-powers-for-Erdogan
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