Protests lead to turmoil in Turk markets

TURKISH police were fighting for control of Istanbul’s Taksim Square last night as protesters continued to defy the country’s Prime Minister Tayyip Erdogan’s demands for an end to the demonstrations.

The police used tear gas and water cannon in an attempt to clear the thousands of people protesting against Erdogan’s grip on power. The Prime Minister had earlier demanded an immediate end to the 12 days of protest and said that demonstrators would not be shown any more tolerance, with police operations set to go through the night to clear the square.

The protesters, who claim that Erdogan has overstayed his welcome after 10 years in power, have caused chaos in Turkey’s markets as well as on its streets.

The lira fell yesterday while the cost of insuring Turkey’s debt rose to the highest level in 10 months. The country’s central banks said it would intervene to prevent further falls.