Erdogan Moves Closer to Tightening Grip on Power

Turkey edged closer to adopting a constitutional bill extending President Tayyip Erdogan’s powers overnight, with parliament approving four more articles of a reform which opponents see as a step towards an authoritarian state.

Erdogan, who could rule the European Union candidate country until 2029 if the legislation is passed, says it will provide stability at a time of turmoil and prevent a return to the fragile coalitions of the past.

During the evening debate an independent lawmaker, Aylin Nazliaka, handcuffed herself to the podium in protest against the stronger presidency, triggering a scuffle between MPs of the ruling AK Party and opposition parties.

Reuters

GBP/USD – Pound Pushes Above 1.23, British Retail Sales Next

Race For French Left Candidate Heats Up

MS

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.