The Turkish central bank defended the lira over three days by spending up to $25 billion (£19.3 billion) to stabilize the currency. This is a major step against backsliding the government’s inability to stabilize the buoying economy in the face of accelerating political turmoil. Mass protests followed the arrest of popular opposition leader İmamoğlu. These protests have turned into Turkey’s biggest protests over the last decade, forcing authorities to respond with a brutal crackdown.
In an effort to stifle dissent, the Turkish police have arrested more than 1,100 people, including hundreds of journalists. The government moved in overnight, arresting nearly every journalist they could find, particularly photo journalists. They want to decide what the story is about the protests. Evin Barış Altıntaş, head of the Media and Law Studies Association, a free speech organization dedicated to supporting journalists in Turkey, stated the main aim is "to cut off the number of people taking photos at protests."
The protests have faced some of the most intense backlash from Turkish authorities. The use of force has increased sharply in Istanbul and other large cities. Police have begun to use pepper spray, teargas and armoured water cannon trucks against civilians demonstrating in the streets. The Turkish president, Recep Tayyip Erdoğan, characterized the protests as a "movement of violence," while Turkish interior minister Ali Yerlikaya accused certain groups of abusing their right to assemble, stating, "Some circles have been abusing the right to assembly and demonstration, attempting to disrupt public order, inciting street events and attacking our police."
Ebubekir Şahin, head of Turkey's media regulator RTÜK, has threatened to suspend broadcasters' licenses for airing live footage of the demonstrations. Şahin stressed that “the state will do whatever it takes” to keep a handle on the protests. This heavy handed move is designed to suppress press scrutiny. It aims to reduce the dissemination of pictures and videos from the protests.
The campaign is playing out in financial markets. So full marks to the Turkish capital markets board for acting decisively and introducing a one-month short selling ban. This action comes after recent events on the Istanbul stock exchange. This financial appropriation indicates deep-seated fears about our economic security in the face of political chaos at home.
Another example of this in action is the global government affairs team of social media app X, formerly Twitter. They disclosed that they had not been involved with or made any decisions about blocking specific accounts in Turkey. They condemned this governmental action, believing it "hinders millions of Turkish users from news and political discourse in their country."