Turkish Elections: Country Faces Capital Controls – Not Even A 100 Euro Withdrawal From ATMs

Turkish Elections: Country Faces Capital Controls – Not Even A 100 Euro Withdrawal From ATMs

Mission, Türkiye

The typhoon will hit in June“, predicted for its economy Türkiyethe famous political analyst Nturhan Bozkur, who “shoots” daily via Twitter – and from his YouTube show – that they come to Turkey irreversible capital controls and an uncontrollable derailment of the economy, with payments stopping, noting that already “credit has stopped, collections are failing and the lack of liquidity is intensifying“.

This, as the cadres of the Republican People’s Party (CHP) and the Justice and Development Party (AKP) are engaged in a race for the final victory in the second round of elections on Sunday which will elect a new president, changing even more and the executives at … halfway, with “reorganizations”. As CHP Vice President for Information and Communication Technology, Debrim Baris Celik, said yesterday, “After the elections (14 May) there was a reshuffle in our party. Chairman responsible for IT and Communications, Mr. Onursal Antiguzel, has left his post.On May 17, I was appointed to this post by our Chairman, Mr. Kemal Kilicdaroglu, from among the members of our Party Assembly, based on our constitution.”

And while the President of the Victory Party Umit Ezda said on Sunday that he would support Kilicdaroglu, unlike the presidential candidate, Sinan Oganwhich he supported in the first round, which in the meantime fell out with Recep Tayyip Erdoğan, all eyes are on the Turkish economy. Or almost everyone. However, more than it was in the May 14 election. As already the day after the elections on Sunday, the Istanbul stock market suffered an electric shock and capital controls were barely restrained, sowing panic.

Withdrawal of 100 or 300 euros (the latter was registered in a branch of Garanti Bank, in Tuzla, Istanbul), was not possible.

“Soon a chain of layoffs will begin, with unpaid loans, salaries, taxes and bankruptcies. If the banks don’t finance the market, they won’t be able to prevent this from happening. The situation is truly tragic. Believe -Me, the hardest job in Turkey right now is corporate fund management and banking,” Bozkur sums up, sounding the alarm, while listing foreign giants leaving Turkey, such as Chinese tech company OPPO, which recently closed its facilities in Istanbul and moved them to Egypt.

Analysts in Türkiye and economic factors, they worry about dollar pricesgold but also housing after the election, registering the mad rise of diesel, food and detergents.

“The cash crisis is getting worse”, comments Turkish analyst Durhan Ozkur

And even. The economy has proven to be something of a “privileged” area for Erdogan, considering the nearly 50% he secured in the May 14 election. “As far as the economy is concerned, the AKP consistently manages to postpone a major crisis or collapse. However, the latest data shows that the collapse has reached a point where it can no longer be postponed,” reports Meric Senjuz, one of the editors of the Turkish edition of the Independent, to Vima.gr.

“The reason for rushing the elections, which would normally be held in June, May, was to ensure they were completed before the expected major meltdown. Like many economists, I also believe that a major economic collapse will come from June,” he concludes.

The effect of inflation is much less noticeable in small towns in Anatolia and Erdogan has always paid attention to the fact that there has been no dramatic increase in unemployment during the crisis, despite his inflationary policy”, comments Turkish analyst Ali Tirali, closely linked to the CHP, considering that the footprint of the economy is small. parts of eastern Turkey.

“Many economists talk about the dire state of the Turkish economy, which will get worse if Erdogan wins. If he wins, some even expect bankruptcy. But I don’t think so. in two weeks, the motivation of voters will change radically and they will now vote with more regard to the economy,” underlines Turkish academic and analyst Doan Tillits.

Gasoline in Türkiye soared to 23 pounds per liter

“In recent years, we have seen many protests by workers due to the effects of the economic crisis. They have not turned into action either. However, this has been accompanied by a trend of voters who had previously voted for the AKP and Tayyip Erdogan not to vote again”, observes Özman Jokaman, a well-known trade unionist in Ankara, who points out that “some of these votes did not move to the left, but to the right-wing parties finally of the AKP “.

32 hours of Erdogan, 32 minutes of Kilicdaroglu on state television

The factors that influenced the election resultif the economy was not for everyone, were largely determined by the authoritarian regime and the “power of unilaterally pro-government mediasaid Ali Tirali. The role of Turkish media has also been a catalyst in shaping public opinion in this year’s crucial elections, as analyzed by opposition journalist Duvar Meral Jadan, who, describing his map, first recommends the digital imposition of the pro-government media party, which was also seen on the night of the elections, also dwelling on the dissemination of the results by the Anatolia Agency (AA), which, however, “has long been under the control of the government and was at the center of criticism from the opposition. It was no coincidence that Ekrem Imamoglu appeared before the press on election night and fired on the agency,” Jadan reminds us.

When the right reporter recorded the television time granted to each presidential candidate by the public broadcaster TRT Haber, the data is revealing: Between April 1 and May 1, 2023, President Recep Tayyip Erdogan’s television time on TRT was 32 hours, 42 minutes and 47 seconds. During the same period, MHP Chairman Devlet Bakhceli, a Popular Alliance partner under Erdogan, spent 25 hours, 27 minutes and 40 seconds on TRT.

However, the time that TRT Haber allotted to the other presidential candidate Kemal Kilicdaroglu, also in the same time frame, was only… 32 minutes and 23 seconds. 32 hours for Erdogan and 32 minutes for Kilicdaroglu.

For the moment, however, the Turkish journalist does not feel the pressure of the government on the newspaper for which she works during the elections. “But that could change if Erdogan wins again,” he comments. “I guess there will be pressure on the opposition media.”

Another “wound” that appeared in the run-up to the elections in Turkey was fake news and videos. “Fake news is sometimes controlled by groups like Teyit.org. A lot of fake news has been produced not only by social media but also by newspapers and TV stations close to the government,” says Meral Jadan, from her newspaper’s offices in Gezi Park, which is buzzing with life and on open television commentators. talk about Sunday’s election. “It’s very difficult to control everything. It’s not easy to tell the truth to the public, even if the checks are done. So people tend to believe what they see or hear on television. In Turkey , it is very easy to manipulate the public with the help of the media and create a perception in favor of the government.”

Leave a Reply

Your email address will not be published. Required fields are marked *