On 5 May 2016, Ahmet Davutoglu has stepped down as Prime Minister of Turkey, following talks with President Recep Tayyip Erdogan. The move is considered as a consolidation of power by Erdogan, who has been extending his authoritarian rule over the years. The Prime Minister was appointed by Erdogan back in 2014, but lost favor of the President as he increasingly acted more autonomous. Constitutionally, the Prime Minister is supposed to be the most powerful figure as in most parliamentary democracies. The President however seems to wield all power in his AKP party and the country, despite his more ceremonial role. Earlier the President had also pushed for new elections, back in November 2015, after the absolute majority of his party was narrowly lost due to the rise of the Kurdish Party. A crackdown on the party followed, and a new election re-confirmed an absolute majority for the Islamist AKP party of Erdogan. The media is also been increasingly controlled by the government, as earlier on 5 March 2016 one of the few remaining critical newspapers "Zaman" was taken over.

The step-down of the Prime Minister also threatens the EU-Turkey deal on migration. Something which was actively brokered by the Prime Minister, while the President was criticizing it. The two figures also had differences of opinion when it comes to the management of the economy, resuming peace talks with the Kurdish Workers Party and the imprisonment of academics and journalists. The new Prime Minister is expected to be somebody who is more loyal and close to the President, and somebody who will actively pursue constitutional reforms for Turkey, that include the creation of a presidential regime, something which would legally confirm the de-facto status of President Erdogan.

Following the step-down, the Lira also lost significant value compared to the Euro. Stocks also plunged

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For a profile on President Erdogan, click here.