Turkey: Erdogan appears to have won controversial constitutional referendum - Rabobank

Michael Every, Head of FMR at Rabobank, notes that in Turkey, President Erdogan appears to have won his controversial constitutional referendum to switch to a presidential political system with a surprisingly narrow 51.4% of the total vote.

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“Opposition protests about voting irregularities and a statement from the OSCE about an “unlevel playing field” have been brushed aside, and President Trump has now offered his congratulations to Mr. Erdogan. The reaction in TRY has not been as warm, however: it slipped to 3.70 from 3.64 yesterday. Meanwhile, the state of emergency already in place in Turkey before the vote has been extended further.”