Turkey: what next for Erdoğan?
Almost all the contenders in Turkey’s elections can claim to have won from Sunday’s results. The ruling Justice and Development (AK Party) has a bigger share of the vote and a third term in power.

The reinvigorated CHP opposition has more seats, and the nationalist MHP has at least held on to its parliamentary presence. The pro-Kurdish BDP has gained too. Investors are also happy, it appears. The lira strengthened, bond yields fell and the Istanbul Stock Exchange’s main equity index rose on Monday morning, as markets judged the result good for stability. “This, arguably, is the most “balanced” outcome to this general election that one could possibly imagine: a single-party government backed by an exceptionally strong popular mandate and extensive legislative powers, but still subject to parliamentary checks and balances,” said Ahmet Akarlı, economist at Goldman Sachs.

2011-06-13