Ecevit vows to remain in control

Ecevit is facing a political crisis

ANKARA, Turkey (CNN) -- Beleaguered Turkish Prime Minister Bulent Ecevit has vowed to remain in control despite major crack in his government and a major challenge from a new political party.

"I am still on duty and staying at my position," Ecevit said in a television interview after Foreign Minister Ismail Cem announced plans to form the new party.

"I have to stay because there is no time to realise other developments."

Cem stepped down from his post as foreign minister on Thursday.

His resignation from Ecevit's Democratic Left party was the latest in a wave of mass defections from the coalition government.

CNN NewsPass VIDEO Turkey turns to IMF as political turmoil only worsens economic woes Play video   RESOURCES Profile: Bulent Ecevit  Profile: Kemal Dervis  Profile: Ismail Cem     QUICKVOTE What lies ahead for Turkey? Ecevit's government will hang on Elections and a new government Instability and a power struggle View Results

More than 40 lawmakers, including a total of seven ministers, abandoned the government and resigned from the Democratic Left party this week.

Husamettin Ozkan resigned his post as deputy prime minister on Monday.

Kemal Dervis is Turkey's economy minister and the man responsible for the country's economic recovery programme. Dervis submitted his resignation but then took it back after Turkey's president and Ecevit persuaded him to stay in the government.

Cem said the decision to form the new party came after consulting with his colleagues and members of parliament, "especially Ozkan and Dervis." (Story)

He said the new party's "main purpose" would be to get Turkey into the European Union.

He noted that the government under Ecevit "has a structure which cannot produce solutions."

Ecevit, in his television interview, said it was "wishful thinking" that Dervis would join Cem's political party and abandon the coalition government.

Ecevit also said he wanted Deputy Prime Minister Sukru Sina Gurel to replace Cem as foreign minister.

Dervis is seen as key economic figure contributing to stability

Political uncertainty is threatening economic and political stability in Turkey, which is trying to join the EU and is a key NATO member.

The exodus from Ecevit was spurred in part by calls for early elections by Devlet Bahceli, the nationalist leader whose party is one of the three in the coalition government.

He has called for elections in November. Elections have been scheduled for 2004.

There has been much controversy over the status of Ecevit, 77, who has suffered from a number of ailments over the past several months.

The country's stock markets and currency have plunged amid investor fears that the crisis could jeopardize $16 billion of aid from the International Monetary Fund. Turkey is the IMF's biggest recipient of loans.