Turkey’s Highest Electoral Body Calls for New Vote in Istanbul Municipal Election

The transcript discusses the political and economic implications of a potential election recount in Istanbul, highlighting the importance of mayoral contests for President Erdogan and the AK party. It examines the impact on Turkey's economy, particularly the lira's depreciation and the withdrawal of offshore creditors. The discussion also touches on Erdogan's political strategy and the broader economic risks facing Turkey, including negative real yields and market reactions to political instability.

What factors contributed to the loss of credibility within the urban administration?

What are the potential consequences for offshore creditors in light of the recent election results?