Erdogan sworn in for historic third term as Turkey's president.

Turkish President Recep Tayyip Erdogan has been sworn in for another five-year term after winning an historic run-off election. He faces considerable diplomatic challenges amid tensions with the West and an economic crisis that has witnessed runaway inflation and the collapse of the lira. Erdogan named former economy chief and internationally respected ex-banker Mehmet Simsek as treasury and finance minister. Addressing the country’s economic troubles will be Erdogan’s priority with inflation running at 43.7 percent, partly because of his unorthodox policy of cutting interest rates to stimulate growth.