ANKARA - Turkey`s top court ruled Tuesday that a first round parliamentary vote to elect a new president was invalid, a decision that could lead the Islamist-rooted government to call early general elections.
The court ruling comes amid widespread concern in Turkey about the Islamist background of the sole candidate Foreign Minister Abdullah Gul, who narrowly missed election in Friday`s poll.
The court ruled that parliament should have convened with at least 367 deputies in order to make the first-round vote legal. According to parliamentary minutes, only 361 lawmakers were present in the assembly.
The Constitutional Court was petitioned by the main opposition Republican People`s Party which is hoping to force general elections scheduled for November to be brought forward.
Up to a million people took to Istanbul`s streets on Sunday to show their concern over Gul from the ruling Justice and Development Party, which many in secular Turkey suspect of having a secret Islamist agenda.
Two days later ugly scenes of a different nature were in evidence in Istanbul, where more than 700 people were detained Tuesday after pitched battles between Turkish police and left-wing May Day marchers.
Within hours of Friday`s vote, the army issued a harsh statement saying it was ready to act to protect the secular order, but the government stood firm against the warning and Gul has ruled out withdrawing his presidential bid.
Gul`s wife wears the Islamic headscarf, seen as a symbol of political Islam, and he was once a member of a party outlawed for Islamist activities.
The crisis has also led to concern among members of the European Union which Turkey is seeking to join.
"It is essential that all those engaged in the political process do so in accordance with Turkey`s well-established democratic principles and in compliance with the constitution," British Prime Minister Tony Blair said Tuesday.
After Tuesday`s ruling, general elections could be called within 45 to 90 days.
Analysts say early elections would help the government to stave off the risk of a deeper crisis with the army, while also saving face against its own electorate.
According to media reports, Prime Minister Recep Tayyip Erdogan and his aides have already discussed bringing the November 4 elections forward to possible dates between the end of June and eary August.
Erdogan convened his cabinet as Turkish shares and the currency tumbled for a second day with investors growing anxious over crucial political stability.
The Istanbul stock exchange lost 1,119 points, or 2.49 percent, in morning trading to close at 43,865.4 points, a day after shedding 4.0 percent.
The lira traded at about 1.377 against the dollar, losing about 0.7 percent of its value since Monday.
"The persistence of Gul`s candidacy will plunge Turkey into greater tensions. That is our short-term concern," said Saruhan Dogan, chief economist at Finansbank.
Dogan said investors currently viewed early elections as a "life ring", but were concerned that the polls could jeopardise five-years of political stability.
Financial markets believe a strong government will keep Turkey on track to carry out reforms demanded by the International Monetary Fund and the European Union, which Ankara is seeking to join.
05/01/2007 15:39 GMT