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Court Restores Kilicdaroglu, Borsa Istanbul Falls 6%

5/22/2026

50 8 Full Breakdown

Summary

Story summary

Ankara appeals court annulled the 2023 CHP congress and restored former leader Kemal Kilicdaroglu.
The ruling sent the Borsa Istanbul index down more than six percent, triggering a market-wide circuit breaker.
CHP chairman Ozgur Ozel posted on X that he would not surrender and urged supporters to continue the struggle.
CHP deputies called the judgment an attempted coup and held an emergency meeting at party headquarters.

History

Historical Context

Since the Republic’s founding, the Turkish Armed Forces have intervened repeatedly—coup d’états in 1960, 1971, 1980 and the 28 February 1997 military memorandum that forced Islamist Prime Minister Necmettin Erbakan to resign under pressure from President Süleyman Demirel and the National Security Council. The episode, the fourth removal of an elected government, underscored the military’s self-perceived role as guardian of Kemalism.

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Story summary

Ankara appeals court annulled the 2023 CHP congress and restored former leader Kemal Kilicdaroglu.
The ruling sent the Borsa Istanbul index down more than six percent, triggering a market-wide circuit breaker.
CHP chairman Ozgur Ozel posted on X that he would not surrender and urged supporters to continue the struggle.
CHP deputies called the judgment an attempted coup and held an emergency meeting at party headquarters.

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