SHOCKER:  Journalist claims Erdogan wanted to fire Mehmet Simsek

Famous journalist Cüneyt Özdemir, in his broadcast on his YouTube channel, revealed interesting backstage information about Treasury and Finance Minister Mehmet Şimşek, alleging that President Erdoğan wanted to sack him, but was persuaded by an advisor not to.

 

In August, too, rumors of Mehmet Simsek resignation roiled the markets. Then, Presidency  and Treasury Ministry sources immediately shot down the rumors. President Erdogan, who first remained silence in the face of the controversy, began praising his Economic Stabilization Program in September.   Several sources talking to PA Turkey on conditions of anonymity, stated that Simsek meets the president regularly and looked confidence that economic program targets for 2025 will be met.

 

According to HalkTV website, a dissident news source, “It has become a known fact that the economic policy implemented by Mehmet Şimşek since he took office has created discomfort within the AKP and that there are faction which want  a change. Journalist Cüneyt Özdemir has interesting behind-the-scenes information about President Erdoğan’s desire to dismiss Mehmet Şimşek on his YouTube channel.

Özdemir conveyed the dialogue between President Erdoğan and one of his close advisors, as told by two sources who he is sure are accurate. Cüneyt Özdemir pointed out that the incident took place last month and made the following claim: “President Erdoğan complained to an advisor: ‘Mehmet Şimşek is implementing an austerity policy, okay; but it is causing us lose votes. He allegedly added that “I know politics well and know that this cannot continue.”

Upon Erdoğan’s words, one of his close advisors used a religious allegory to dissuade him:  “Mr President, suppose we woke up in the morning and began to fast (a religious ritual during the Holy Month of Ramadan), but half an hour before iftar (fast-breaking time upon evening prayer), you decided to break your fast”. “But according to Quran, you must than  fast to 61 days to atone, will you take the punishment?”

After he explained the situation using this metaphor, President Erdoğan decided to keep Şimşek in his post.

PA Turkey  failed to confirm this news from independent sources or Turkish media.  Nevertheless, if the press pounces on  the event, markets may be thrown into turmoil once again.

 

On Friday, Turkish stock exchange main index BIST-100 dropped by 2.32%, while dollar/TL   rose 0.55%,  much faster than the daily deprecation allowed by CBRT,  after a calm morning session, suggesting a sudden piece of news may have disturbed investors.

 

 

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Published By: Atilla Yeşilada

GlobalSource Partners’ Turkey Country Analyst Atilla Yesilada is the country’s leading political analyst and commentator. He is known throughout the finance and political science world for his thorough and outspoken coverage of Turkey’s political and financial developments. In addition to his extensive writing schedule, he is often called upon to provide his political expertise on major radio and television channels. Based in Istanbul, Atilla is co-founder of the information platform Istanbul Analytics and is one of GlobalSource’s local partners in Turkey. In addition to his consulting work and speaking engagements throughout the US, Europe and the Middle East, he writes regular columns for Turkey’s leading financial websites VATAN and www.paraanaliz.com and has contributed to the financial daily Referans and the liberal daily Radikal.