Erdogan's opposition will ask for a vote review

The political rivals of Turkish President Recep Tayyip Erdogan were Monday preparing to file formal objections to a closely-contested vote that, should results stand, would centralize governing powers in his presidential office and radically alter Turkey’s democracy.

Mr. Erdogan and his supporters described the preliminary totals from Sunday’s referendum, giving him a narrow victory, as the will of the people.

According to unofficial results, Turkey approved constitutional amendments with a tight “yes” vote garnering 51.2% of the vote, and 48.8% opposed, with 100% of the ballots counted, the state-run Anadolu news agency reported Sunday.

Turkish markets rallied on opening as investors cheered the victory with the main stock BIST-100 index up 0.6%. The lira initially strengthened by almost 3% to 3.6371 against the dollar.

International observers who monitored the referendum are scheduled to give a preliminary summary in Ankara of their reports on the election on Monday afternoon. Members of the European parliament who were in Turkey to monitor the election reported several allegations of violations and irregularities in southeastern provinces and supported the Turkish opposition’s contention of an unfair vote.

Opponents of the changes had argued otherwise. They believe the constitutional changes would deliver a serious blow to a democratic system already under intense strain and set Turkey on a path to authoritarianism.

They complained that the campaign was unfair in part due to the restrictions caused by the continuing state of emergency called after last summer’s failed coup. Since then, authorities have arrested more than 40,000 people, including dozens of opposition lawmakers and local elected officials, dismissed more than 120,000 civil servants and other government employees and closed roughly 140 media outlets.

The sizable number of dissenters in Sunday’s contest signaled the depth of unease with the government’s post-coup crackdown and revealed the deep polarization in a nation of 80 million. Many secularists, liberals and ethnic minority Kurds opposed constitutional changes that they fear will enshrine a majoritarian practice of democracy that marginalizes millions of Turks from political life.

A majority of voters in Turkey’s major urban centers rejected the changes, including Istanbul and Ankara.

Source: Wall Street Journal

Jr Trader Petar Milanov

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