Turkey's army may come under authority of defense ministry: Erdogan

Turkish President Tayyip Erdogan greets members of parliament from his ruling AK Party during a meeting at the Turkish parliament in Ankara Turkey

Erdoğan sworn in as Turkish president with enhanced powers

President Recep Tayyip Erdogan is all set to take an oath and announce his Cabinet under new presidential system on Monday. The government says these measures are necessary given the security situation.

Some 50 countries were represented at the ceremony, among them controversial figures like Venezuelan President Nicolas Maduro and Sudanese President Omar al-Bashir, according to official Anadolu news agency. Reuters adds: After taking the oath of office in parliament, he addressed global leaders gathered at the presidential palace in Ankara.

Parliament can ratify or reject his budget and the president needs parliamentary approval for emergency rule and decrees passed during that time.

And the emergency rule he declared after a July 2016 coup attempt has brought mass purges of political opponents and a crackdown on dissent.

Turkish President Recep Tayyip Erdogan, accompanied by his wife, Emine Erdogan, arrives for a ceremony at the Presidential Palace in Ankara, Turkey, on July 9.

The only European Union leaders are set to be Bulgarian President Rumen Radev and Hungary's strongman Prime Minister Viktor Orban.

Meanwhile Mevlut Cavusoglu remains in his post as foreign minister.

Albayrak's surprise switch from the energy ministry spooked financial markets, who were also unhappy to see there was no room for outgoing deputy prime minister Mehmet Simsek, the government's pointman on the economy.

"The pace at which he (Erdogan) is moving to tighten his grip is alarming and, in response, Turkish financial assets have come under pressure", said Jason Tuvey, senior emerging markets economist at Capital Economics, in a note to clients.

The unexpected move leaves key details on the future functioning of the central bank unanswered but signals that Erdogan intends to keep to a pledge in May to increase his control over the way monetary policy is made.

Erdogan said on Saturday that he would tackle "the structural economic problems" of high interest rates and inflation and a wide current account deficit.

The Supreme Electoral Council confirmed Erdogan's victory in the June 24 presidential race, declaring that he won 52.59 percent of the votes.

The executive system of government that began with Erdogan's swearing-in scraps Turkey's parliamentary governance structure and boosts the powers of the formerly ceremonial presidency. Erdoĝan has repeatedly clashed with strategic allies such as the USA and the European Union in recent years over the war in Syria, Turkey's accession to the EU, human rights abuses by Ankara, Europe's failure to support Turkey during the coup attempt, and rising Islamophobia in Europe.

Turkey is not a state party to the tribunal of war crimes but has the obligation as a member of the United Nations to cooperate with the court.

A powerful campaigner, he is Turkey's most successful and divisive leader in recent history.

In the local elections of March 1994, Erdogan was elected mayor of Metropolitan İstanbul.

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