Turkish PM Erdogan Becomes First Democratic President

Turkish Prime Minister Tayyip Erdogan will become the country’s first directly-elected president by a wide margin of votes, according the semi-official Anadolu News Agency.

Erdogan stopped short of declaring victory when he spoke Sunday night.

“We will continue to work for our nation, we will continue to serve our homeland,” Erdogan told a crowd in Istanbul. “We will continue our fight for advanced democracy and sovereignty of democracy standards.”

With nearly 98% of the votes counted, Erdogan avoided a runoff by winning more than 52% of the votes, according to CNN Turk and Anadolu News Agency.

Diplomat Ekmeleddin Mehm Ihsanoglu came in second with 38% of the votes. Kurdish politician Selahattin Demirtas was a distant third with 9%.

via CNN

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza