The week ahead | Calamatta Cuschieri

The Turkish referendum

On Sunday, the Turkish population went to the polls to decide whether or not they would give their president, Recep Tayyip Erdogan, more authoritative power. The election results were close, but ultimately, the Yes vote won by the slimmest of margins over the No camp with a 51.4% majority. The ramifications of this vote would mean that the Turkish political system would now change from a parliamentary system to a presidential system, grant the president executive powers and the authority to publish decrees.

Previously, the role of the Turkish president was purely ceremonial as he served as the country’s head of state. Erdogan was previously the country’s Prime Minister between 2003 and 2014 representing the AKP party, after which he sought the Presidency. There have been outcries of foul play by those who opposed the referendum’s result, with some suggesting that there may have been some element of fraud within the voting system.

The North Korean threat

Over the weekend, North Korea held a military parade in which they showed off their military’s might and strength by showcasing their arsenal and troops to its people and to the world through foreign media outlets that were allowed to record and televise the event.

The hermit kingdom, led by their young and unpredictable dictator Kim Jong Un, are once again in the spotlight as US President Donald Trump has vowed deal with the North Korean threat with or without China. The communist dictatorship has continued to pursue their ambitions to develop nuclear arms and unlike his predecessor, Trump has promised to take a different approach when dealing the North Korean regime and has deployed American Aircraft carriers close to North Korean waters as a way of sending a message to the country that further nuclear testing and provocations will not be tolerated.

Disclaimer:

This article was issued by Simon Gauci Borda, Trader at Calamatta Cuschieri. For more information visit, www.cc.com.mt. The information, view and opinions provided in this article is being provided solely for educational and informational purposes and should not be construed as investment advice, advice concerning particular investments or investment decisions, or tax or legal advice. Calamatta Cuschieri Investment Services Ltd has not verified and consequently neither warrants the accuracy nor the veracity of any information, views or opinions appearing on this website.