Just when you thought it couldn't get any worse...
So, not only is his daughters bloke in charge of finance AND the treasury, he issued a decree that lets the president appoint the Central Bank governor, the deputy governors AND the TCB's monetary policy committee for four years at a time.
Unsurprisingly the markets responded by bombing the lira and the stock market fell by over 2%. If the lira continues its descent then its likely it'll hit another all time low against the dollar this afternoon - and probably sterling as well.
One wonders what will happen if Albayrak's (and Binali Yildirims sons) alleged involvement in tax evasion using offshore accounts as revealed in the the Paradise Papers becomes more widely known, as it stands all references to this potential scandal are being censored in Turkey. Oops, just committed a crime
JF