Wednesday's newspapers mainly covered the strong possibility that early elections be held in Turkey after efforts to form a coalition government failed


World Bulletin / News Desk

Wednesday's dailies dedicated their front pages to the strong possibility that early elections be held in Turkey after Turkish Prime Minister and Justice and Development (AK) Party leader Ahmet Davutoglu failed to form a coalition government with parties in parliament. 

"Quickly to the polls," was MILLIYET's headline. The daily reported that Turkey's Supreme Election Board (YSK) announced on Tuesday that it could hold polls in 45 days in case of an early election call.

If Turkish President Recep Tayyip Erdogan decides to call for an early election in Turkey, the country will go to polls in late October, the daily said.

After the latest attempt to form a coalition government collapsed Monday when Davutoglu met MHP leader Devlet Bahceli in Ankara, the Turkish PM returned the mandate to the president on Tuesday.

Davutoglu had been given the mandate to form government on July 9. He had since met with Republican People’s Party (CHP), Nationalist Movement Party (MHP) and Peoples' Democratic Party (HDP) for a coalition agreement.

However, the talks proved short-lived and the party leaders announced there was no agreement following the meetings. 

SABAH ran with the headline: "We will go to polls with a two-month caretaker government", citing President Erdogan speaking during a meeting on Tuesday in Ankara.

"To give the mandate to CHP leader [Kemal Kilicdaroglu] to form a government is out of the question. Turkey will go to polls with a caretaker government," Erdogan said, according to the daily.

The constitution says that only the president or the parliament may decide to hold a new election. If the president issues a decision, a cabinet of ministers will be formed and the president will appoint a temporary prime minister.

In other news, Turkish dailies covered the fall of the Turkish lira, which hit a new low against the dollar on Tuesday after the Turkish Central Bank announced that it was holding interest rates at current levels.

"Isn't there anybody to extinguish?" was VATAN's headline, referring to the irrepressible rise of the dollar. 

The Turkish lira then hit 2.888 in afternoon trading after the bank’s announcement. 

According to CUMHURIYET, the Turkish lira is about to hit 3 against the dollar. The currency has also reached 3.20 against the euro. 

The Turkish lira has slid to a series of record lows against the dollar in the past week after coalition talks between the country’s main parties ended without an agreement.

After coalition talks failed, it is expected that the likely prospect of an early election will cause further depreciation in the value of the Turkish lira against the dollar in coming days.

The Turkish central bank has not changed the current interest rates of 7.50 for the one-week repo, and 10.25 percent for the overnight lending rate since May.

Güncelleme Tarihi: 19 Ağustos 2015, 11:08