- MarketPulse - https://www.marketpulse.com -

Park Project that Ignited Turkish Protests Cancelled by Courts

A Turkish court has cancelled an Istanbul building project backed by Prime Minister Tayyip Erdogan which provided the trigger for nationwide anti-government demonstrations last month, a copy of the court decision showed.

Authorities may well appeal against cancellation of plans for a replica Ottoman-era barracks on Istanbul’s Taksim Square. But the ruling marked a victory for a coalition of political forces and a blow for Erdogan, who stood fast against protests and riots he said were stoked by terrorists and looters.

Can Atalay, a lawyer for the Chamber of Architects which brought the lawsuit, said the administrative court ruled in early June at the height of the unrest that the plan violated preservation rules and unacceptably changed the square’s identity. It was not clear why it had only now been released.

via CNBC [1]

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 [6]

Senior Currency Analyst at Market Pulse [7]
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