On the brink
It’s too often said that Turkey stands at a crossroads but this may well be a deciding day for its democracy. Ankara’s Grand National Assembly is debating the nuances of an executive presidency that provided it gets the votes required for a referendum, would deliver near-absolute powers to its president Recep Tayyip Erdogan. Today’s session will debate whether the president should have the power to bypass parliament and rule by decree in a new constitution. Observers are worried: there have been fistfights in parliament this week and whispers of dissent in the ruling party. Turkish democracy may not have always run smoothly in the past 70 years but to roll back now, at a moment when investors are recoiling, could prove a disaster.