Erdogan inaugurates Turkey's powerful executive presidency

Pedestrians walk past a poster of Turkish President Recep Tayyip Erdogan under the caption

Turkish Prime Minister Binali Yildirim will on Monday go down in history as the 27th and final holder of a post that has existed since Mustafa Kemal Ataturk founded modern Turkey, and whose origins date back to the Ottoman Empire. Under the new presidential system Erdogan will have the power to dissolve Parliament, appoint or remove vice presidents, ministers, judges and high level officials as well as issue executive decrees and lift or impose a state of emergency.

Turkish President Tayyip Erdogan arrives at the parliament to take the oath of office for a new presidential term, in Ankara, Turkey July 9, 2018.

State television channel TRT broadcast Erdogan's described Monday's swearing-in as the "first day of the new Turkey".

Erdogan, who first came to power as premier in 2003, won an outright victory in June 24 polls, defeating his closest rival, Muharrem Ince of the main opposition Republican People's Party (CHP) which is now locked in internal battles over its future direction.

Erdogan said the executive presidency would put behind a "system that heavily cost our country through political, social and economic chaos". This was met with a minute-long standing ovation by his supporters, and seated silence from those who still oppose his power grab. The prime ministry will not exist in the new system. The coup was led by military leaders who opposed Erdogan's push to make Turkey more Islamic and less secular.

He said the presidential inauguration ceremony would be held on Monday at 6.00pm local time (1500 GMT) at the presidential complex in the capital Ankara.

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He will have sweeping new powers, including over the judiciary and the ability to rule by decree. "In other words, Turkey will be an institutionalized autocracy".

The president said in the previous days that there will not be any members or parliamentarians of his Justice and Development Party (AK Party) in the new cabinet, hinting that it will be made up of former politicians and bureaucrats.

Russian Prime Minister Dmitry Medvedev will attend, in a new sign of the warm ties between Ankara and Moscow, as will Venezuelan President Nicolas Maduro, regarded with disdain by Washington but an ally of Erdogan.

Next Sunday is the second anniversary of a failed coup attempt in which 250 people were killed and 1,400 wounded.

Investors were waiting to see whether cabinet appointees would include individuals seen as market-friendly, and particularly whether Mehmet Simsek, now deputy prime minister, would continue to oversee the economy.

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