Protests erupt in Turkey after the arrest of president Erdogan's rival
Turkey's president, Recep Tayyip Erdogan, has jailed his main political opponent, Ekrem Imamoglu


The biggest protests in more than a decade have “erupted” across Turkey after Ekrem Imamoglu, the mayor of Istanbul and main rival of president Recep Tayyip Erdogan, was arrested on 19 March, says Ben Hubbard in The New York Times.
The charismatic 54-year-old was jailed just hours before Turkey’s main opposition, the Republican People’s Party (CHP), designated him as their candidate in the next presidential election.
Imamoglu has been accused of corruption and backing the Kurdistan Workers’ Party, which is deemed a terrorist organisation, charges he denies. His university degree has also been annulled, which could disqualify him from a presidential bid.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Erdogan has ruled Turkey for 22 years and, since changing the constitution in 2017, done so with “few checks on his authority”, says The Economist. He “controls the courts, the security apparatus and almost all the media”. However, until last week, Turkey remained a so-called “competitive authoritarian regime: a flawed multi-party democracy where the opposition can, in theory, win elections”.
Imamoglu’s arrest “marks a turning point”. Last year, his party beat Erdogan’s Justice and Development (AK) party in local elections. Imamoglu has led opinion polls for months, and his popularity “promised a chance of a democratic transfer of power” at the next election, due by 2028.
Erdogan has a strong hand
This is no “simple internal crisis”, says Mark Almond in The Telegraph. Since the Arab Spring uprisings of 2011, Turkey, which has been pushing to join the EU for decades, is no longer a “supplicant of Brussels” but a “pivotal state with a big card to play” as Nato’s front line.
Erdogan plugs the border into the EU, preventing a “flood of refugees” from unstable countries. The rise of anti-immigrant Eurosceptic parties across Europe has increased the importance of this role. Countries including Germany, Sweden and Belgium also have large pro-Erdogan Turkish communities. Turning a “blind eye” to Erdogan’s domestic heavy-handedness is a “price worth paying” to keep the peace. The big question is whether the EU can afford to risk “alienating” Turkey’s next generation.
Erdogan has picked his moment well, says The Economist. As the US vacates the stage, Turkey’s army, the second largest in Nato, is “more vital than ever”. But the EU could take a tougher line. Greece and Bulgaria have strengthened their borders. Erdogan remains keen on EU membership. He would doubtless like Turkish firms to take part in the EU’s €150 billion ReArm Europe programme. Ultimately, however, only the Turkish people can prevent their country from becoming an autocracy.
Erdogan’s actions prompted a “sharp currency sell-off” due to fears of a return to “populist policies” such as “unsustainably low interest rates”, says Liam Proud on Breakingviews. The lira’s plunge could reverse falling inflation and foreign capital could take flight. There are economic as well as political questions at stake.
This article was first published in MoneyWeek's magazine. Enjoy exclusive early access to news, opinion and analysis from our team of financial experts with a MoneyWeek subscription.
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.

Emily has worked as a journalist for more than thirty years and was formerly Assistant Editor of MoneyWeek, which she helped launch in 2000. Prior to this, she was Deputy Features Editor of The Times and a Commissioning Editor for The Independent on Sunday and The Daily Telegraph. She has written for most of the national newspapers including The Times, the Daily and Sunday Telegraph, The Evening Standard and The Daily Mail, She interviewed celebrities weekly for The Sunday Telegraph and wrote a regular column for The Evening Standard. As Political Editor of MoneyWeek, Emily has covered subjects from Brexit to the Gaza war.
Aside from her writing, Emily trained as Nutritional Therapist following her son's diagnosis with Type 1 diabetes in 2011 and now works as a practitioner for Nature Doc, offering one-to-one consultations and running workshops in Oxfordshire.
-
The five insurance policies you should have
Some insurance cover will be more important than others. We look at five insurance policies you may need to have to make sure you aren’t caught out in an emergency
-
Is Donald Trump putting the US dollar in danger?
Donald Trump's administration sees one of its greatest advantages – the US dollar – as a burden. Gold is the obvious beneficiary, says Cris Sholto Heaton.
-
Israel attacks Iran – will the US join the conflict?
Opinion The two countries have been exchanging fire since Israel launched air strikes against Iranian nuclear facilities and infrastructure on Friday 13 June. But without US involvement, it may only have created a “wounded big beast”
-
Trump eyes private foundations to raise tax. Will philanthropy decline?
The picture is mixed, but philanthropy on the whole is alive and well, says Simon Wilson
-
US and China reach a ceasefire in their trade war after talks in London
The US and China's trading relationship – the most important one in the global economy – is back on track. Will the truce last?
-
Judicial elections: will Mexico’s bold political experiment come at a cost?
Mexico's historic judicial elections attracted little attention, but the implications could be far-reaching
-
What will the unravelling of US-China trade mean for the economy?
What will a US-China decoupling mean for the global economy?
-
What's next for Liberal Mark Carney after Canadian election win
Mark Carney will remain as Canadian prime minister after winning the country's election, despite falling short of a majority.
-
Could Javier Milei bring Argentina's economy back to 'normal'?
Javier Milei, president of Argentina, has been in office for more than 500 days. What will his leadership mean for the economy?
-
'Rachel Reeves' plan to force pension funds into UK assets won't work'
Opinion Hustling pension fund cash into British assets sounds like a good idea. It would be better to make Britain an attractive place to invest, says Matthew Lynn