The result of the election in Turkey it begins a phase of political uncertainty that worries the markets. After yesterday's votePAK, the president's Conservative Party Recep Tayyip Erdogan, has lost its absolute majority for the first time in the last 13 years and finds itself forced to form a coalition government, otherwise it will return to the polls.
The financial reflex was not long in coming: opening today the Istanbul Stock Exchange came to lose 8%, while the Turkish lira recorded a drop of 5% against the dollar, to 2,79. To curb the currency collapse, the Turkish Central Bank announced a cut from 4% to 3,5% of the rates applied to deposits in dollars and from 2% to 1,5% on those in euros.
Furthermore, on the institutional side, yesterday's elections also led to the failure of Erdogan's project, which aimed to establish a presidential republic.
As for the results of individual parties, thePAK it was confirmed as the first formation with 41% of the votes, but recorded a drop in preferences compared to the previous electoral round (about -10%). The 259 deputies obtained (out of a total of 550) are much less than the 330 that would have been needed to pass the presidential amendment to the Constitution.
The pro-Kurdish left-wing party hdp, on the other hand, exceeded the 10% threshold, reaching almost 13% and managing to enter Parliament with 78 seats in its first electoral attempt.
The opposition party chp got 25% of the preferences, while the nationalist Mhp it went just over 16%. High voter turnout. According to reports from the Anadolu news agency, it was 86%.
