Erdoğan dismisses 'primitive' snap polls: Report

Speaking to the ruling Justice and Development Party’s (AK Party) provincial heads at a meeting at party headquarters in Ankara, Erdoğan said it is "primitive" to hold elections every 15 to 20 months.

“As the People’s Alliance, we will win the presidency and have a majority in Parliament and will further break our record in 2023 June elections,” the president said, Daily Sabah reported.

Noting that the AK Party has won all elections since its foundation, Erdoğan said the party's success is rare among world democracies.

His remarks came in response to the main opposition Republican People’s Party (CHP)-led Nation Alliance’s demands to hold snap polls. The opposition alliance had also been requesting a return to the parliamentary system, the report added.

Protests held in Turkey after lira's historic crash

Protests were held in Istanbul and Ankara following the lira's historic crash. Protesters demanded the government's resignation in the face of the economic crisis.

Groups were seen marching in both cities, as they called on the ruling Justice and Development Party (AKP) to resign. 

In Ankara, protesters marched in the Çankaya district. 

There were also reports of protests in the northwestern city of Eskişehir and the Aegean province of İzmir. 

Turkey's lira nosedived 15% on Nov. 23 on its second-worst day ever after President Recep Tayyip Erdoğan defended recent sharp rate cuts, and vowed to win his "economic war of independence" despite widespread criticism and pleas to reverse course.

The lira tumbled as far as 13.45 to the dollar, plumbing record troughs for an 11th straight session, before paring some losses. It has shed 45% of its value this year, including a near 26% decline since the beginning of last week.

Many economists called the rate cuts reckless while opposition politicians appealed for immediate elections. 

After a meeting between Erdoğan and central bank Governor Şahap Kavcıoğlu, the bank issued a statement saying the selloff was "unrealistic and completely detached" from economic fundamentals.

There was no hint at an intervention to stem the meltdown. The central bank said it could only do so under certain conditions in "excessive volatility." 

MA/PR