Financial Times quotes Rafik Hariri Center Nonresident Senior Fellow Aaron Stein on the Turkish electorate’s rejection of a strong presidential system and the resultant uncertainty as the country faces a potential parliamentary coalition:

Turkey’s currency fell to an all-time low against the dollar and the stock exchange was rattled amid political uncertainty as the country faced the prospect of a coalition government after an electoral rebuff to President Recep Tayyip Erdogan.

[…]

Aaron Stein at the Atlantic Council, a US-based think tank, said: “Erdogan has a lot of firepower, but so do the opposition parties.

“This election is the biggest rebuke of Erdogan since 2002, but he has amassed huge power since then . . . If — and only if — he backs off the idea of a presidential system, there’s a pathway to [an AK party-led] coalition.”

Read the full article here.