Published: Thu, July 12, 2018
Markets | By Otis Pena

Sunaidy takes part in Erdogan's inauguration ceremony

Sunaidy takes part in Erdogan's inauguration ceremony

Following his swearing-in ceremony, Turkish President Recep Tayyip Erdogan visited Anitkabir, Ataturk's mausoleum, and penned down his comments in the memorial notebook, Anadolu Agency reported.

Following the approval of constitutional changes in an April 2017 referendum allowing the president to retain his/her party membership, that May Erdogan was restored as AK Party chairman by a vote at its third Extraordinary Congress.

On the eve of Monday's inauguration authorities dismissed more than 18,000 state employees - majority from the police and army - in what the government said would be the final decree under emergency rule imposed following a failed 2016 coup. The coup was followed by a crackdown on members of the bureaucracy, judiciary, armed forces, police, media and academia, with more than 130,000 people dismissed from their jobs or arrested.

Erdogan took the oath of office at the Turkish Parliament headquarters at the Grand National Assembly chaired by Acting Parliament Speaker Durmus Yilmaz.

No major Western leader featured on a list of 50 presidents, prime ministers and other high-ranking guests.

The office and position of prime minister, now held by Binali Yildirim, will be scrapped from Monday. In particular, the departure of former Merrill Lynch banker Mehmet Simsek, who served as deputy prime minister, has raised concerns about the lack of influencers who can monitor Erdogan's policies. An adviser to Erdogan later said that the governor's term would remain at five years.

The lira erased earlier gains after the decree was published and was trading 0.2 per cent lower at 4.58 per dollar at 5:24 Istanbul. The new cabinet will be announced on Monday evening.

North Atlantic Treaty Organisation allies should double their defense spending goals
He recently suggested that his relationship with Putin is "easier" than his relationships with U.S. allies in Britain and Europe. Trump is slated to meet with Russia's Vladimir Putin - whom he often says he wants to get along with - in Helsinki, Finland.

Mr Erdogan took oath of office to become the first Turkish President under the new presidential system of Government. The European Union affairs ministry will be absorbed into the foreign ministry, while retaining its name and apparatus.

In the aftermath of the 2016 coup, Turkey, a member of the North Atlantic Treaty Organisation military alliance and still nominally a candidate to join the European Union, has detained some 160,000 people, jailed journalists and shut down dozens of media outlets.

A powerful campaigner, he is Turkey's most successful and divisive leader in recent history.

President Erdogan invited President Lungu along with Gabonese President Ali Bongo, Jose Mario Vaz of Guinea Bissau and Equatorial Guinea President, Teodoro Obiang Nguema to his inauguration.

After his election victory two weeks ago, Erdogan said he would spare no effort to spur economic growth.

"We are leaving behind the system that has in the past cost our country a heavy price in political and economic chaos", Erdogan said in an address late on Monday.

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