Turkish president attends North Atlantic Treaty Organisation summit in Brussels

Turkish President Recep Tayyip Erdogan leaves his seat to address members of parliament from his ruling party in Ankara Turkey

Turkish President Recep Tayyip Erdogan leaves his seat to address members of parliament from his ruling party in Ankara Turkey

The president will also have the power to dissolve parliament, issue executive decrees and impose a state of emergency.

President Recep Tayyip Erdogan on Monday took on greater powers than any Turkish leader for decades as he was sworn in for a second presidential term, naming his son-in-law to the key post of finance minister in a revamped cabinet.

The introduction of the new presidential system marks the biggest overhaul of governance since the republic was established on the ruins of the Ottoman Empire almost a century ago.

His supporters see them as just reward for a leader who has put Islamist values at the core of public life, championed the pious working classes and built airports, hospitals and schools.

After the swearing-in ceremony, Mr Erdogan visited the mausoleum of the founder of the Turkish Republic, Mustafa Kemal Ataturk before proceeding to the Presidential Complex to make his inaugural speech.

President Recep Tayyip Erdoğan will leave for Brussels today to attend the Meeting of NATO Heads of State and Government, during which he is expected to discuss Turkey's counterterrorism efforts with ally countries and hold bilateral meetings with several leaders, including U.S. President Donald Trump. "With the power granted to us by the new presidential system, we will get quicker and stronger results".

"Erdogan, 64, says a powerful executive presidency is vital to drive economic growth, ensure security after a failed 2016 military coup and safeguard Turkey from conflict across its southern border in Syria and Iraq".

Ankara has been disappointed with North Atlantic Treaty Organisation allies for not supporting Turkey's fight against terrorism and the lack of cooperation in meeting Turkey's defense needs.In addition, the Turkish president is expected to meet with European Council President Donald Tusk, European Commission President Jean-Claude Juncker and European Parliament President Antonio Tajani.Several members of Turkey's new Cabinet will reportedly accompany Erdoğan on his visit. The Amir left Ankara later in the evening after attending the inauguration ceremony.

The post of prime minister will be scrapped.

The Turkish president also kept Mevlut Cavusoglu in place as foreign minister and named Fuat Oktay, a former Turkish Airlines executive, as vice president.

The moves have already stoked market fears that Erdogan will enact economic policies that will cause the ongoing currency crisis to spiral out of control.

A self-described "enemy of interest rates", Erdogan wants to see lower borrowing costs to spur growth.

"We will take our country much further by solving structural problems of our economy", he said on Saturday, referring to high interest rates, inflation and the current account deficit.

The lira had on Monday lost over 3.5 percent in value against the dollar after Albayrak's appointment, with markets also rattled by changes to the president's relationship with the central bank under the new system that dispenses with the office of prime minister.

But Erdogan faces immediate challenges posed by Ankara's faltering bid to join the European Union and tensions between the United States and its North Atlantic Treaty Organisation ally.

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