Politics
Turkey faces growing street protests over Istanbul mayor’s arrest, jailing – National TenX News
Turkish President Tayyip Erdogan said on Monday that protests over the jailing of Istanbul’s mayor had become a “movement of violence” and that the main opposition party would be held accountable for injured police officers and damage to property.
The detention last Wednesday of Mayor Ekrem Imamoglu, Erdogan’s main political rival, has triggered the biggest street protests in Turkey in more than a decade. On Sunday, a court jailed him, pending trial, on corruption charges that he denies.
Imamoglu’s main opposition Republican People’s Party (CHP) and its supporters say the charges against him are politically motivated and undemocratic, which Erdogan’s government denies.
Despite a ban imposed on street gatherings in many cities, the mostly peaceful anti-government demonstrations continued for a sixth consecutive night on Monday, with hundreds of thousands taking part and CHP leader Ozgur Ozel repeating a call for the nationwide protests to continue.
Speaking after a cabinet meeting in Ankara, Erdogan said the CHP should stop “provoking” citizens.
“As a nation, we followed with surprise the events that emerged after the main opposition leader’s call to take to the streets following an Istanbul-based corruption operation turned into a movement of violence,” the 71-year-old president said.
“The main opposition is responsible for our (injured) police officers, the broken windows of our shopkeepers, and the damaged public property. They will be held accountable for all this, politically in parliament and legally by the judiciary.”
Earlier, Interior Minister Ali Yerlikaya accused some protesters of “terrorizing” the streets and threatening national security. He said 1,133 people had been detained during five days of protests and that 123 police officers had been injured.
A CHP delegation met Istanbul’s governor to discuss the police crackdown on the protesters. The party’s Istanbul head Ozgur Celik said police intervention on Sunday night had been the most violent so far, with many people being hospitalized.
Addressing hundreds of thousands of people in front of the Istanbul Municipality headquarters in Sarachane again, CHP leader Ozel repeated a call to boycott media, brands, and stores he called pro-Erdogan, adding all charges against Imamoglu were baseless, unfounded and without evidence.
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“Whoever Tayyip Erdogan unjustly puts in jail, this square is defending them, for democracy and for Turkey,” said Ozel, who also called for continued protests as crowds waved flags and chanted slogans calling for the government to resign.
Ozel added his party would also appeal for Imamoglu to be released pending trial, and for his trial to be broadcast on the TRT state broadcaster. And he challenged Erdogan to a televised debate, while calling on protesters to maintain public order and avoid clashes.
Ahead of Ozel’s address, at the historic Galata Bridge in Istanbul, a sit-in protest blocked traffic on both sides of the bridge, while others gathered elsewhere in the city, in Ankara, and other cities.
Moments after Ozel finished his speech, police fired pellets and tear gas, and used water cannons to disperse demonstrators in Istanbul, while detaining several people. In Ankara, protesters stood in front of trucks carrying water canons and asked police to let them march in peace.
Protesters say mayor jailed ‘for no reason’
Imamoglu, 54, was jailed pending trial on Sunday, as the CHP held a primary election to name him presidential candidate. Some 15 million votes were cast in support of the mayor.
News of Imamoglu’s arrest covered the front pages of Turkish newspapers on Monday, with opposition media suggesting the mayor was arrested for being the most credible challenger to Erdogan.
The mayor’s supporters said the jailing of Imamoglu demonstrated a lack of justice in Turkey.
“I think there is an injustice committed against Imamoglu. They put the man in prison for no reason,” said Adem Bali, a 22-year-old construction worker.
Rights groups and European countries said Imamoglu’s arrest marked democratic backsliding and criticized police intervention. Germany said it made Turkey’s pursuit of EU membership, which it has targeted for decades, sounded “increasingly hollow.”
A meeting of the EU-Turkey Joint Parliamentary Committee was postponed on Monday after the EU side “concluded that current circumstances are not conducive” to holding the meeting, it said in a statement.
A CHP official said on Monday that the party would this week appeal a decision by the Istanbul University to annul Imamoglu’s diploma – required for eligibility in a presidential run – and added lawyers were working on appeals to the mayor’s arrest as well.
Erdogan, who has dominated Turkish politics for more than two decades and faces no immediate tests at the ballot box, said the events of the past few days showed that the CHP was not fit to run local municipalities, let alone the nation.
He also sought to reassure investors who last week sold off Turkish assets following news of Imamoglu’s detention, sending stocks, bonds and the lira currency tumbling and prompting the central bank to intervene with foreign exchange sales and other stabilizing measures.
“Our main priority is protecting macrofinancial stability. The Treasury and finance ministry, central bank, all relevant institutions, with our support, are working day and night in full coordination, taking every necessary step,” Erdogan said.
The Istanbul bourse benchmark index .XU100pared back some losses on Monday after suffering a fall of 16.6% last week, its worst drop since the global financial crisis in October 2008.
Analysts expect a prolonged period of political turmoil and uncertainty.
“The protests mark the most significant and widespread public reaction in over a decade, making the trajectory of events difficult to predict,” said Wolfango Piccoli, co-president of Teneo consultancy.
“Once again, President Erdogan’s political agenda has inflicted serious damage on Turkey’s economic outlook.”
Politics
IMF chief backs Jerome Powell, U.S. Fed independence amid Trump pressure – National TenX News
International Monetary Fund chief Kristalina Georgieva on Thursday underscored the importance of keeping central banks independent and threw her support behind beleaguered Federal Reserve Chair Jerome Powell, who is facing a Trump administration investigation for renovation cost overruns.
Georgieva told Reuters in an interview that there was ample evidence that central bank independence worked in the interest of businesses and households, and that evidence-based, data-based decision-making is good for the economy.
The IMF managing director said she had worked with Powell and respected his professionalism.
“I have worked with Jay Powell. He is a very good professional, very decent man, and I think that his standing among his colleagues tells the story,” she said, when asked about a letter of support signed by her predecessor, Christine Lagarde, now head of the European Central Bank, and other large central banks.
Powell on Sunday disclosed that the Trump administration had opened an investigation into him over cost overruns for a $2.5 billion project to renovate two historical buildings at the Fed’s Washington headquarters complex.
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Powell denies wrongdoing and has called the unprecedented actions a pretext to put pressure on him for not bowing to U.S. President Donald Trump’s long-running demands for sharply lower interest rates.
The probe has sparked widespread criticism from some key members of Trump’s Republican Party in the U.S. Senate, which must confirm his nominee to succeed Powell, along with foreign economic officials, investors and former U.S. government officials from both political parties.
Trump has repeatedly derided Powell’s leadership of the Fed and attacked him, often personally, over what he sees as the Fed chair’s slow moves to cut interest rates. On Wednesday, he dismissed concerns that eroding central bank independence would undermine the value of the U.S. dollar and spark inflation, telling Reuters, “I don’t care.”
Georgieva said the IMF looked carefully at issues such as monetary and financial stability, as well as the strength of a country’s institutions. It was specifically interested in the Fed, given the role of the U.S. dollar as a reserve currency.
“It would be very good to see that there is a recognition … that the Fed is precious for the Americans. It is very important for the rest of the world,” she said.
Trump has also attempted to fire another Fed official, Governor Lisa Cook, who has challenged her termination in a legal case that will be argued before the Supreme Court next week.
B.C. Premier David Eby spoke to reporters on Thursday morning from Mumbai, India, during his six-day trade mission.
He said that mining and energy companies in India are showing an interest in B.C.
“They are looking strongly to LNG as one of their ways of reducing carbon intensity, as well as reducing smog in the country,” Eby said.
“And so B.C. LNG has been an item of considerable interest, especially the projects that are reaching final investment decision over the next year — LNG Canada Phase 2, KSI Lisims LNG — as well as the projects that are under construction like Woodfibre LNG.”
Eby was also asked about the rise in extortion cases in B.C.
He said the province’s extortion task force will provide an update next week.
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“We have assembled a remarkable and historic task force, RCMP, CBSA,” Eby said.
“There are more police in Surrey right now than there have ever been. The RCMP has surged resources into the community.”
Eby said he has not been happy with the fact that there has been no update from the task force and he has asked them to provide one.
“There have been some important developments, people deported, an arrest here in India, cooperation between the Indian government and the Canadian government on this at the law enforcement level,” he added.
“That needs to continue, but, bluntly, we need better results, we need to see more arrests and whatever we can do to support the police to get the job done, we will do so.”
As of Jan. 12, Surrey police said there have been 16 reported extortion incidents in the city since the beginning of the year.
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Amid persistent doubts over the future of the Canada-United States-Mexico trade agreement (CUSMA), Mexico’s Economy Minister Marcelo Ebrard insisted on Thursday that the agreement remains firmly intact and that the three countries will close a deal to extend it.
“We’re already in the treaty review phase, and we have to finish by July 1; that’s our deadline,” Ebrard said during Mexican President Claudia Sheinbaum’s daily morning press conference.
“We have made good progress on all the points that concern each of the parties.”
Ebrard’s comments were his first on the topic since U.S. President Donald Trump again cast doubt on the treaty’s future earlier this week.
“There’s no real advantage to it, it’s irrelevant,” Trump said on Tuesday, as he toured a Ford factory in Dearborn, Michigan.
The trilateral trade agreement, known as USMCA, replaced the North American Free Trade Agreement in 2020 and is a backbone of Mexico’s economy.
The treaty, which was negotiated during Trump’s first term, requires the three countries to hold a joint review this year to extend the pact.
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If extended, the treaty will remain in place another 16 years. If not, it is subject to annual reviews.
Technically, July 1 is a key date in the treaty’s review process, but many analysts expect negotiations to extend late into 2026 and said Trump will likely avoid extending the treaty before the U.S. midterm elections in November.
Trump’s recent threats to pursue military action against cartels have also added a new layer of uncertainty to U.S.-Mexico relations.
“I think Ebrard is betting on a best-case scenario, but the window for a July successful review is closing fast,” said Alexia Bautista, a former Mexican diplomat and lead Mexico analyst at the political risk consultancy firm Horizon Engage.
“Given recent events and statements, the risk is that Trump injects security into the process, turning the trade review into a far more political negotiation.”
Pedro Casas, chief executive of the American Chamber of Commerce of Mexico, said he expects the U.S. will continue imposing tariffs on a wide spectrum of Mexican exports, regardless of the treaty’s future.
The Trump administration has imposed sweeping 50 per cent duties on steel and aluminum exports to the U.S., along with a 25 per cent tariff on cars shipped from Mexico, even when those vehicles comply with the terms of the trade deal.
“I think the most likely scenario is a positive review process where we agree to extend the treaty for another 16 years, but steep tariffs still remain on Mexican exports that undermine the strength of the agreement,” Casas said.
IMF chief backs Jerome Powell, U.S. Fed independence amid Trump pressure – National TenX News
B.C. Premier David Eby says province’s LNG, mining of interest to India TenX News
Mexico confident CUSMA will remain as Trump suggests it could expire – National TenX News
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