“The 24 June election results are several percentage points wide of what the polls envisaged: they had implied that Erdogan might be forced into a second round vote for the presidency and his Justice and Development party (AKP)-led alliance would fail to secure a parliamentary majority,” Standard Chartered analysts note. Key quotes “Official (preliminary) results show Erdogan achieved 52.5% of the presidential vote while the AKP-led alliance achieved 53% of the vote, which will likely translate into 58% of seats in parliament.” “These elections also mark the beginning of the new constitution narrowly approved in a 2017 referendum; it eliminates the prime minister’s position, transfers considerable power to the president, blurs the separation of powers and allows the president to appoint senior judges. Turkey’s already tense relations with its Western partners will be further complicated by the implementation of the new constitution – especially those with Europe; institutions such as the Venice Commission have expressed serious concerns about the new constitution.” “The AKP’s 42% share of the vote is, in fact, one of its worst results in legislative elections, 7 percentage points (ppt) lower than last time (November 2015). Its ultimate victory is thanks to its alliance with the Nationalist Movement party (MHP), which diminishes hope of a resumption of peace talks with the Kurds and makes the MHP key to Erdogan’s future political agenda in parliament.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD Technical Analysis: Cable facing some resistance near 1.3300 level FX Street 5 years "The 24 June election results are several percentage points wide of what the polls envisaged: they had implied that Erdogan might be forced into a second round vote for the presidency and his Justice and Development party (AKP)-led alliance would fail to secure a parliamentary majority," Standard Chartered analysts note. Key quotes "Official (preliminary) results show Erdogan achieved 52.5% of the presidential vote while the AKP-led alliance achieved 53% of the vote, which will likely translate into 58% of seats in parliament." "These elections also mark the beginning of the new constitution narrowly approved in a 2017 referendum; it eliminates… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.