POLITICAL RISK - Elections Set For November 2007

The Turkish parliament has set November 4, 2007 as the date for the next national election. The decision means that the current, AKP dominated, parliament will elect the next president in May, much to the frustration of secularists who had advocated an early election to provide 'greater legitimacy'. Though BMI had earlier thought that the AKP may have opted for an early election in the wake of the currency's sharp depreciation in May, that looked less likely once it became clear that - barring a new currency crisis - the economic deterioration would be most marked in H206 and H107.

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