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Kilicdaroglu speaks of "national debt quagmire" – voters should think about their wallets

2023-05-27T07:10:54.293Z

Highlights: Kemal Kilicdaroglu (CHP) has promised citizens financial relief. New rules to reduce the burden of credit card debt should make this possible. National Alliance candidate prevails over incumbent Recep Tayyip Erdogan (AKP) on Sunday (28 May) It is questionable whether this will help to achieve the necessary majority. In any case, only President Erdogan, who has plunged Turkey into an "economic depression", is to blame for the financial misery, writes Huseyin Akkoyunlu.



Before the run-off election in Turkey, challenger Kilicdaroglu wants to score points with the cancellation of interest rates. It is questionable whether this will help to achieve the necessary majority.

Ankara – Shortly before the run-off elections in Turkey, presidential candidate Kemal Kilicdaroglu (CHP) has promised citizens financial relief. New rules to reduce the burden of credit card debt should make this possible – if the National Alliance candidate prevails over incumbent Recep Tayyip Erdogan (AKP) on Sunday (28 May).

"I will present a final solution to your credit card debt. The interest on your credit card debt will be completely cancelled and the principal will be paid off in 36 monthly installments," Kilicdaroglu wrote in a text message he sent to citizens last Thursday (25 May). "Dear citizens, I know that you are trying to finance your budget expenditures with debt. Once I come to power, I will find a definitive solution to your personal credit card debt," it said.

In any case, only President Erdogan, who has plunged Turkey into an "economic depression", is to blame for the financial misery. In fact, the country's economy has been struggling with problems for months, and the Turkish lira has been in free fall for some time – but this had little impact on the first round of elections.

A man holds brochures of Turkish presidential candidate Kemal Kilicdaroglu in his hands. The words "I promise you!" adorn the ballot papers. © Onur Dogman/Imago

Turkey election: Kilicdaroglu is behind – and wants to score points with the cancellation of interest rates

According to Kilicdaroglu, the debts of the Turks are to be repaid within three years, while the banks are to waive interest altogether: "The interest on your credit card debt will be completely cancelled and the capital will be paid in 36 monthly installments. In this way, hundreds of thousands of our citizens will be saved from being crushed under this burden, they will breathe a sigh of relief, and their homes will not be demolished because of the debt quagmire," the campaign text message said. "Remember, the election on May 28 is a referendum to get rid of the high debt or get stuck in a national debt quagmire! Let those who love their homeland go to the polls," he added.

In the first round of the presidential election two weeks ago, Erdogan narrowly missed an absolute majority. He received around 2.5 million more votes than his challenger Kilicdaroglu, despite numerous problems in the country, such as a currency crisis. International observers consider the vote to be basically free, but criticised an unfair election campaign. Kilicdaroglu responded with a U-turn in the election campaign. Instead of being more conciliatory, he now strikes a harsh tone, especially against refugees. A small right-wing nationalist party supports him in the second round – which could deter the Kurdish electorate.

The third-placed far-right candidate Sinan Ogan has now backed Erdogan. It is unclear to what extent his voters will follow the recommendation – after all, Ogan had mainly attracted a protest electorate in the first round of voting. However, it is considered certain that the behaviour of nationalist voters will determine the outcome of the election. (nak)

Source: merkur

All news articles on 2023-05-27

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