Erdogan Gets Emergency Powers Over the Turkish Economy 

President Recep Tayyip Erdogan was granted emergency powers that give him broad authority to act when Turkey’s financial stability is deemed to be under threat.

Parliament voted late Wednesday to authorize Erdogan to take all the necessary measures in case of a “negative development” that could spread across the entire financial system. It also approved the formation of the Financial Stability and Development Committee that will work to coordinate efforts against risks to financial stability and security, according to the law, set to go into effect following the president’s approval.