The Presidential Daily Brief


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    Top Turkish Official Quits Ruling Party

    Former Deputy Prime Minister Ali Babacan, credited with spearheading Turkey’s financial boom in the 2000s, has resigned from the Justice and Development Party (AKP). He cited “deep differences” in values for his departure, which analysts consider a major blow to President Recep Tayyip Erdoğan, especially with the Turkish lira plummeting and another recession looming.

    What will Babacan do next? Sources say he might team up with former President Abdullah Gul to face Erdoğan in the next election — an alliance that could cut into AKP’s fragile support in a spiraling economy.

    Check out this OZY story about Turkey’s growing ties with Latin America.

This story is part of The Presidential Daily Brief

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