Turkish lira freefalls as crackdown on opposition intensifies ...Iraq

TheTurkish lira plunged past 40 to the dollar on Tuesday, rattled by growingpolitical instability and an intensifying crackdown on opposition leaders aheadof local elections.

Overthe weekend, authorities arrested several opposition mayors from the RepublicanPeople’s Party (CHP) in southern provinces, including Adana, Adiyaman, andAntalya, under what officials described as corruption probes.

Tensionsescalated further after France condemned the arrests. The Turkish ForeignMinistry dismissed the criticism as foreign “interference,” insisting that“Turkiye, as a state governed by the rule of law, guarantees fair and impartialproceedings.”

— Turkish MFA (@MFATurkiye) July 7, 2025

Whilethe ministry defended the detentions as legally justified and overseen byindependent courts, it accused Paris of “a double standard,” referencingunnamed legal actions against French opposition figures and urging it to focuson its own domestic affairs.

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