Erdogan takes on new powers, names son-in-law finance chief

Erdoğan sworn in as Turkish president with enhanced powers

Erdoğan sworn in as Turkish president with enhanced powers

Recep Tayyip Erdogan will cap his years-long drive to transform Turkey's government on Monday as he's sworn in as an executive president with vastly expanded powers. He also defended his choice of his son-in-law Berat Albayrak as finance and treasury minister, saying Albayrak had theoretical and practical experience in finance.

The cabinet was unveiled after Erdogan took the oath of office for a second term as president with enhanced powers granted in last year's narrowly-won referendum.

On the eve of Monday's inauguration authorities dismissed more than 18,000 state employees - a lot of them from the police and army - in what the government said would be the final decree under emergency rule imposed following a failed 2016 coup.

The inauguration was to be followed by a lavish ceremony at his palace on Monday evening attended by dozens of world leaders marking the transition to the new executive presidency system.

Erdogan's son-in-law, who previously served as energy minister, assumes responsibility for Turkey's finances at a precarious time. It then briefly dropped more than 1 percent after a decree removed a clause stipulating a five-year term for the central bank governor.

President Aliyev and President Erdogan reviewed the guard of honor.

Erdogan on Monday appointed former Chief of Staff Hulusi Akar as defence minister.

Turkish President Recep Tayyip Erdogan was in Cyprus on Tuesday to meet with the leader of the island nation's breakaway Turkish side, Mustafa Akinci.

He won re-election on June 24, with 52.59 per cent of votes.

"With the power granted to us by the new presidential system, we will be getting quicker and stronger results", he said as new members of parliament began to take their oath of office.

Marc Pierini, a former European Union ambassador to Turkey and a visiting scholar at Carnegie Europe, said Erdogan's new powers would effectively make him a "super-executive president".

On his turn, President Erdogan asked the Minister of Commerce and Industry to convey his utmost greetings and appreciation to His Majesty the Sultan, wishing His Majesty good health, wellbeing and a long life, and the Omani people further progress and growth. "In other words, Turkey will be an institutionalized autocracy". The sweeping dismissals bring to about 130,000 the number of people purged from Turkey's civil service since the failed coup, and come just days before the state of emergency is set to expire.

Scrapping the term would remove a shield that helps ensure the bank´s independence from politicians, former central banker Ugur Gurses said. "It is a sign that Erdogan will control economic policy even more", said Guillaume Tresca, a senior emerging markets strategist at Credit Agricole.