Turkish Markets Plunge on Army Threat Over Election

[Guest guest]

Dear friends,Yesterday, warned that the tranists were difficult for a couple of days for countries with Taurus, Cancer and Capricorn ascendants. The likely authentic chart for Turkey has 24° Cancer rising. In this chart, Mo/Su period is running. L8 Saturn is currently exactly conjunct H1 MEP under exact aspect from L6 Jupiter on H5 MEP. Transit L1 Moon in Virgo H3 was weak and fell under aspect of transit Saturn, while transit L2 Sun was weak in Aries H10. Today, the financial market plunged in Turkey due to threat of the military to intervene in the political system, due to a perceived threat from a religious candidate for President to the secular "western" order established by Ataturk in 1920.The chart is attached in gif file.Best wishes,ThorTurkish Markets Plunge on Army Threat Over Election (Update9) By Ayla Jean Yackley and Steve

Bryant April 30 (Bloomberg) -- Turkey's lira fell the most in seven months and bonds and stocks slumped after the military threatened to block the ruling party's presidential candidate because of his support for Islamist causes. The lira fell 2.43 percent, trading at 1.3678 to the dollar at 6:16 p.m. in Istanbul. Yields on lira-denominated government debt maturing in February 2009 rose 81 basis points to 19.14 percent. The benchmark stock index declined 4 percent, erasing $7.8 billion in stock market value. Hundreds of thousands of people rallied in Istanbul yesterday to protest the candidacy of Foreign Minister Abdullah Gul, who was a member of the pro-Islamic Welfare Party ousted from government by the army in 1997 and subsequently banned. The army, which has forced four governments out of office since 1960, accused Prime Minister Recep Tayyip Erdogan's

administration of using the presidential election to undermine the country's secular tradition. Gul has refused to back down from his candidacy. ``We're experiencing a dilemma of democracy,'' said Baris Sozen, who helps manage about $10 billion of Turkish bonds at Akbank TAS in Istanbul. ``We're seeing a reaction from foreign investors because they weren't expecting anything like this.'' Erdogan stressed his government's economic achievements in a pre-recorded televised address to the nation today, calling for national unity and making no reference to the army's criticism or the presidential election. ``We have taken a step forward greater than any in our country's experience,'' Erdogan said. ``Let's not destroy the stability that we worked so hard to achieve.'' Since taking power in 2002, Erdogan's Justice and Development Party has reduced government debt as

a proportion of economic output, narrowed the budget deficit, broadened freedom of speech and eliminated the military's chairmanship of the National Security Council, all measures aimed at strengthening the economy and meeting conditions for European Union membership.

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[Guest guest]

Dear friends,

 

The political problems in Turkey have continued.

 

Best wishes,

 

Thor

 

Last Updated: Tuesday, 1 May 2007, 20:59 GMT 21:59 UK

Turkey PM to ask for early poll

 

Mr Erdogan announced a package of reform proposals Turkey's Prime

Minister Recep Tayyip Erdogan has said he will ask parliament to

approve an early general election. He also said he would ask for a

change in the constitution to allow the president to be chosen by the

people. Mr Erdogan was speaking after the country's constitutional

court annulled last Friday's parliamentary vote to elect a new

president. Secularist opposition parties had challenged the vote in

court to prevent the foreign minister from winning. The parties accuse

Abdullah Gul of having a hidden Islamist agenda and say his election

would threaten Turkey's secular tradition. Mr Erdogan, the leader of

the AK party, which has Islamist roots and had put forward Mr Gul as

its candidate, said he would apply for new polls on Wednesday and they

could be held as soon as 24 June. The polls are currently scheduled

for 4 November.

Army role

Mr Erdogan announced a package of reform proposals that included

reducing the term of parliament from five years to four. He was

speaking after the constitutional court annulled last Friday's vote in

which Mr Gul failed to win the required majority amid a boycott by the

opposition. The constitutional court backed the opposition's argument

that a quorum of two-thirds of the 550 lawmakers was not present. A

total of 361 lawmakers voted - 357 for Mr Gul - but 367 were needed to

make a quorum. Mr Gul and Mr Erdogan deny there is any hidden Islamist

agenda. But the BBC's Sarah Rainsford in Istanbul says the army had

made it clear it would not tolerate Mr Gul as president. It warned it

would defend the separation of state and religion, the legacy of the

state's founder Mustafa Kemal Ataturk. Our correspondent says the

court is officially independent but had been under immense pressure to

reach precisely the verdict it did. It is one that is likely to divide

Turkey further, she says. On Sunday, hundreds of thousands of people

rallied in Istanbul in support of secularism.

 

SAMVA , Cosmologer <cosmologer wrote:

>

> Dear friends,

>

> Yesterday, warned that the tranists were

difficult for a couple of days for countries with Taurus, Cancer and

Capricorn ascendants.

>

> The likely authentic chart for Turkey has 24° Cancer rising. In this

chart, Mo/Su period is running. L8 Saturn is currently exactly

conjunct H1 MEP under exact aspect from L6 Jupiter on H5 MEP. Transit

L1 Moon in Virgo H3 was weak and fell under aspect of transit Saturn,

while transit L2 Sun was weak in Aries H10. Today, the financial

market plunged in Turkey due to threat of the military to intervene in

the political system, due to a perceived threat from a religious

candidate for President to the secular " western " order established by

Ataturk in 1920.

>

> The chart is attached in gif file.

>

> Best wishes,

>

> Thor

>

>

> Turkish Markets Plunge on Army Threat Over Election (Update9)

> By Ayla Jean Yackley and Steve Bryant

> April 30 (Bloomberg)

-- Turkey's lira fell the most in seven months and bonds and stocks

slumped after the military threatened to block the ruling party's

presidential candidate because of his support for Islamist causes.

 

> The lira fell 2.43 percent, trading at 1.3678 to the dollar

at 6:16 p.m. in Istanbul. Yields on lira-denominated government debt

maturing in February 2009 rose 81 basis points to 19.14 percent. The

benchmark stock index declined 4 percent, erasing $7.8 billion in

stock market value.

> Hundreds of thousands of people rallied in Istanbul

yesterday to protest the candidacy of Foreign Minister Abdullah Gul,

who was a member of the pro-Islamic Welfare Party ousted from

government by the army in 1997 and subsequently banned. The army,

which has forced four governments out of office since 1960, accused

Prime Minister Recep Tayyip Erdogan's administration of using the

presidential election to undermine the country's secular tradition.

Gul has refused to back down from his candidacy.

> ``We're experiencing a dilemma of democracy,'' said Baris

Sozen, who helps manage about $10 billion of Turkish bonds at Akbank

TAS in Istanbul. ``We're seeing a reaction from foreign investors

because they weren't expecting anything like this.''

> Erdogan stressed his government's economic achievements in

a pre-recorded televised address to the nation today, calling for

national unity and making no reference to the army's criticism or the

presidential election.

> ``We have taken a step forward greater than any in our

country's experience,'' Erdogan said. ``Let's not destroy the

stability that we worked so hard to achieve.''

> Since taking power in 2002, Erdogan's Justice and

Development Party has reduced government debt as a proportion of

economic output, narrowed the budget deficit, broadened freedom of

speech and eliminated the military's chairmanship of the National

Security Council, all measures aimed at strengthening the economy and

meeting conditions for European Union membership.

 

> Ahhh...imagining that irresistible " new car " smell?

> Check outnew cars at Autos.

>