Erdogan has appointed the Finance Minister of Turkey, his son

Erdogan acquired 52.5 percent of the votes in the presidential election on June 24

Only hours after being sworn into office on Monday, Turkish President Tayyip Erdogan managed to rattle markets with a leadership shakeup, taking advantage of sweeping new powers that were decided on in a tightly contested referendum past year.

The president will also have the power to dissolve parliament, issue executive decrees and impose a state of emergency.

Fuat Oktay, a former head of Turkey's emergencies agency, has been named as the sole vice president, a newly-created post.

"We are leaving behind the system that has in the past cost our country a heavy price in political and economic chaos", Erdogan told guests Monday evening, Reuters reported.

"Turkey will write a new story", he promised.

Erdogan pledged to "reinforce the social state" in the new era and "leave behind the days that people were externalized and alienated for whatever reason".

Under the new executive presidential system, the Cabinet will be reduced from 26 to 16 while the Prime Minister's office will be abolished.

Under the new system, the president forms government, appoints ministers, vice-presidents and high-level bureaucrats.

Trump lashes Germany over Russian Federation deal
I am very happy that today we are united in freedom, the Federal Republic of Germany. The NATO chief was frank about the impact of Trump's criticism on the organisation.

Stormy Daniels arrested in OH , lawyer says
Daniels was scheduled to appear at the Sirens strip club on Wednesday and Thursday nights, the club's website says. Her attorney, Michael Avenatti , tweeted that his client was taken into custody at a strip club in Columbus.

Thailand cave rescue: colleagues praise Australian doctor who played central role
The trapped group in Thailand have now all been rescued from the cave, and are now recuperating in hospital. Former Thai Navy SEAL Saman Gunan died last Friday while putting extra air tanks along the escape path.

Erdogan argues eliminating the position of prime minister will avoid disagreements and make decision making quicker.

Erdogan has described high interest rates as "the mother and father of all evil", and said in May he would expect to wield greater economic control after the election. Erdoĝan has repeatedly clashed with strategic allies such as the U.S. and the European Union in recent years over the war in Syria, Turkey's accession to the EU, human rights abuses by Ankara, Europe's failure to support Turkey during the coup attempt, and rising Islamophobia in Europe.

Parallel to the ministries, nine councils dealing with issues ranging from social policy to security and foreign policy will develop, supervise and coordinate relevant policy suggestions.

Likewise, the departure of market-friendly ministers such as Mehmet Simsek, the well regarded former deputy prime minister, and Naci Agbal, previously the finance minister, has also undermined confidence.

Foreign Minister will remain Mevlut Cavusoglu. Investors, who fear the economy is growing too quickly, are concerned that Albayrak will pursue economic policies that aggressively prioritize growth while ignoring the dangers of rising inflation and debt.

Mr Erdogan is now the country's most powerful leader since Ataturk: modern Turkey's secular founding father, who saw Turkey as part of the west.

Before Erdogan, the role of the Turkish president was largely ceremonial.

He will then head to more challenging encounters at a North Atlantic Treaty Organisation summit in Brussels where he will meet with USA counterpart Donald Trump.

Related News:



Most liked

Trump slams anti-breastfeeding claims
In opposing the resolution , the USA was said to align with the corporate interests of formula manufacturers. Health advocates had trouble finding another sponsor who did not fear USA "retaliation".

Scrapped drill with S. Korea would have cost $14 mn: Pentagon
FILE - Security guards walk in front of containers at the Yangshan Deep Water Port in Shanghai, China, April 24, 2018. Add North Korea as an interest to stay up to date on the latest North Korea news, video, and analysis from ABC News.

Croatian players' kids delight World Cup fans with post-win scratch match
Scenes after the game were, perhaps unsurprisingly, more subdued than after the quarter-final win against Sweden . Chris Treloar, 34, said: "I'm absolutely gutted, especially with the way the goal went in".

Hopes dashed, England fans taste bitter defeat once again
England won their opening game at a major tournament for the first time since the 2006 World Cup. Belgium and England face off in the third-place match after losing in the semifinals.

Do you approve of Trump's Supreme Court pick?
Indeed, many commentators have argued that the president "outsourced" the decision to the Federalist Society entirely. Republicans have little margin of error for the final vote unless a few Democrats can be brought onboard.

Queen pays tribute to mark 100 years of Britain’s Royal Air Force
The appearance was particularly poignant as it was the time the Cambridge's appeared in public as a family of five. Kate is now in the middle of maternity leave for Prince Louis and hasn't yet returned to full-time royal duties.

Samsung Galaxy S10+ likely to feature triple-lens camera
The upcoming galaxy device is one of the most anticipated devices with such specs and the hype it is surrounded by. It has been speculated that the company may embed the speakers in the display to reduce that bezel space.

France final special for Croatia's Perisic
For England , the end still felt premature. "I reckon there's a lot we could've done better". You couldn't ask for anything more from the group of players.

Thai cave rescue: All 12 boys and their coach rescued
Medical officials told reporters that they're healthy, fever-free, mentally fit and "seem to be in high spirits". Eight of the boys were brought out on stretchers over the first two days - four on Sunday and four on Monday .

Former UCLA basketball player Billy Knight found dead on Phoenix roadway
In the video , Knight speaks about his " life of sin ", and tells the viewers that it will be his "last message on earth". Knight's death came just days after Tyler Honeycutt , 27, fatally shot himself during a standoff with police on Friday.

British police say nerve agent victims handled material's container
Police are now hunting for that container, which they believe was likely linked to the attack on the Skripals four months earlier. A bus that Ms Sturgess and Mr Rowley used the night before they collapsed has also tested negative for the deadly agent.

England coming home after semi-final defeat
Ian Broudie and co will treat fans to a live performance of their iconic football anthem before England's World Cup game. For a second there, it did honestly feel like it was coming home, but alas, it was not to be.

England hold their heads high despite pain of World Cup loss
Croatia has never advanced to the championship match. 'The World Cup may not be ours but football has come home'. Stan Chattersley, who has lived in Bournemouth for 15 years, admitted he would not be supporting England .

Tejay van Garderen misses Tour de France yellow jersey on tiebreak
Martin and his team-mates lost 2-28 minutes to Team Sky and slightly less to the other top teams and riders. He was also part of the team that won the team time trial at Tirreno-Adriatico.

Croatia become smallest nation to reach World Cup final since 1950
The victory improves Croatia's previous best showing at the World Cup , which ended in a 1998 semifinal loss to the host French. While England's top football players were on the pitch, its top golfers were sitting at home watching the game unfold.