The Turkish question

Known unknowns of Erdogan's victory

It says much for the gap between market perception and popular opinion in Turkey that the Turkish lira sank to a new record low on Monday even as cities erupted in celebration after Recep Tayyip Erdogan secured a victory in the presidential elections. In one of the most hard-fought elections since the Turkish republic was founded almost 100 years ago, Mr Erdogan secured a four percentage point victory in the run-off against secular challenger Kemal Kilicdaroglu. He overcame one of Turkey’s worst economic crises in a generation and the mishandling of an earthquake that left over 50,000 people dead. The