CHP's Yalçın Karatepe: 'There is no way out other than an early election'

Reactions to the detention of Istanbul Metropolitan Municipality (IMM) Mayor Ekrem İmamoğlu are growing like an avalanche. Republican People's Party (CHP) Deputy Chairman Responsible for the Ministry of Treasury and Finance, Yalçın Karatepe, shared his views on the process with journalists. 

According to the report by Mustafa Bildircin from BirGün, Karatepe said, "What is happening demonstrates in concrete terms the consequences of moving away from the rule of law on the economy." 

Noting that the Turkish Lira has lost value sharply following the detention of İmamoğlu and the operations targeting the CHP, Karatepe stated, "We are seeing the Central Bank intervening in the stock market in a serious way. I believe they have sold tens of millions of dollars. It is clear that this move will not yield results."

Karatepe added the following: 

"Erdoğan is making decisions to protect his power without considering any economic costs he will impose on Turkey. There is no longer any possibility for the Turkish economy to recover. The point gold prices have reached is clear. The rise in foreign currency continues rapidly. There is no place in the world where markets are controlled by selling reserves in this manner.

The cost of this process for Turkey will be quite heavy. Turkey has no economic way out. Today, everyone has clearly seen that there is no rule of law in Turkey. Even people thought to be the most untouchable can be touched. I have traveled across Turkey and I have seen that the ruling power is losing. President Erdoğan sees what I see as well. We want an early election. The only way to put a stop to this trajectory in Turkey is an early election."