British newspaper's take on İmamoğlu: A notable Mehmet Şimşek detail

The repercussions of Istanbul Metropolitan Municipality Mayor Ekrem İmamoğlu's detention continue in the international press. The UK-based Financial Times newspaper published a notable analysis evaluating the potential effects of the ongoing process on the Turkish economy.

The analysis emphasized that İmamoğlu's detention could put recent economic gains at risk.

The Financial Times noted that the market-friendly policies implemented since Treasury and Finance Minister Mehmet Şimşek returned to office are progressing on fragile ground, and pointed out that these developments could shake that foundation.

The newspaper stated, "This process threatens the steps that have helped sharply reduce inflation and the reform process led by Mehmet Şimşek."

''DEMOCRACY AND THE RULE OF LAW OVERSHADOWED''

The report stated that İmamoğlu being taken into police custody paints a negative picture not only in terms of the economy but also regarding democratic standards.

The Financial Times assessed that "İmamoğlu's detention has raised questions about the future of Turkey's democracy and the rule of law."

INVESTORS UNEASY

The analysis also pointed out that the sharp depreciation of the Turkish Lira on Wednesday was an indicator of investor concerns. The newspaper commented, "The lira's loss of value against the dollar is a sign that investors have begun to question President Erdoğan's commitment to structural reforms."