Labour Party (Turkey) Labour Party (Turkey) Labour Party (in Turkish: "Emek Partisi", EMEP) is a political party in Turkey. Its chairman is Selma Gürkan. The party was founded as "Emek Partisi" (Labour Party, EP) in 1996. Due to its ban by the Constitutional Court, it was refounded with the name "Emeğin Partisi" (Party of Labour, EMEP), the same year. In 2005, the name "Emek Partisi" was reinstalled after the European Court of Human Rights held the ban was a violation of Article 11 of the European Convention on Human Rights. The party defines its ideology as "scientific socialism", referring to Revolutionary Communist Party
Turkey annual current account deficit was $47.3 billion at the end of December 2017, compared to the previous year's figure of $33.1 billion. In the early decades of the Turkish Republic, the government (or banks established and owned by the government, such as Türkiye İş Bankası (1924), Sanayi ve Maadin Bankası (1925), Emlak ve Eytam Bankası (1926), Central Bank of Turkey (1930), Sümerbank (1933), İller Bankası (1933), Etibank (1935), Denizbank (1937), Halk Bankası (1938), etc.) had to subsidise most of the industrial projects, due to the lack of a strong private sector. However, in the period between the 1920s and 1950s,