Erdogan Recovers From Earlier Setback Wins Turkish Elections

Turkey’s ruling AK party surged to victory in national elections on Sunday in a triumph for President Recep Tayyip Erdogan after his setback at the polls five months ago.

With more than 99 per cent of the votes counted by late evening, the AKP had secured a clear majority of parliamentary seats, more than reversing the losses it suffered in a previous election in June.

The party’s 49 per cent of the vote marked an increase of 8 percentage points on its share in June and came close to its record high.

The result, which defied a series of polls predicting a hung parliament, vindicated Mr Erdogan’s decision to call early elections after the June contest interrupted the 13-year single-party rule of his Islamist-rooted party.

“This victory is not ours, it is our nation’s,” Ahmet Davutoglu, AKP prime minister, told a rally of cheering supporters in the party stronghold of Konya.

via CNBC

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 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