Crisis in Istanbul: Opposition Fights Back Amid Political Turmoil

Ekrem Imamoglu, Istanbul's mayor and a political opponent of President Erdogan, was jailed, sparking massive protests. An interim mayor was appointed to prevent government intervention. The political chaos caused financial instability, prompting central bank interventions. The opposition remains defiant, rallying for change and proposing Imamoglu as a presidential candidate.

In a development causing significant political ripples, Istanbul's city council appointed an interim mayor on Wednesday following the controversial incarceration of Ekrem Imamoglu. The former mayor, facing accusations of corruption that he disputes, has become a symbol of opposition against President Erdogan's government.

Imamoglu's detention ignited widespread demonstrations, marking the most significant anti-government protests in Turkey in over a decade. Labelled by critics as a politically motivated assault on democracy, the move has drawn condemnation from various quarters, including Western governments and human rights organizations.

The situation has also impacted Turkey's financial markets, with a noticeable downturn in economic performance. To counteract the volatility, Turkey's central bank intervened to stabilize the national currency, asserting that the economic disruption would be short-lived.

(With inputs from agencies.)