Turkish President Faces New Threat

By Staff, Agencies

Turkish President Recep Tayyip Erdogan now risks losing more voters as former allies stick their head above the parapet and appear to be on the verge of creating new parties.

This comes after losses in key cities this year.

Relatively, former Prime Minister Ahmet Davutoglu and ex-economy minister Ali Babacan have both made statements this month criticizing Turkey's current trajectory under Erdogan.

Rumors swirled in Ankara for months that Babacan and Davutoglu may establish their own political parties to challenge the AKP that has dominated Turkish politics this century.

On July 8, Babacan, who is credited with overseeing Turkey's economic boom during the AKP's first decade in power, dealt the first blow when he resigned from the party.

He claimed Turkey needed a "new vision" and cited "deep differences" over policy, hinting a new party -- or "new effort" -- was "inevitable".

With double-digit inflation, slower growth and a weakened lira, many hope Babacan will be the answer to Turkey's economic woes and an alternative to Erdogan.

Ten days after Babacan, Davutoglu gave an interview broadcast live online in which he appeared to suggest he would be ready to set up a new party.