There’s never a dull moment in President Recep Tayyip Erdogan’s “new Turkey,” and today was no exception. Claims that Mehmet Simsek, the deputy prime minister in charge of the economy, had resigned sent the Turkish lira tumbling to record lows against the dollar and tremors through the political establishment. It didn’t help that presidential spokesman Ibrahim Kalin was unable to offer clarity when queried about Simsek’s status. “This is, for now, an allegation. There is nothing that came to us about this,” he said in a press briefing. Hours later Simsek took to Twitter to confirm he was still on the job — at an investor’s meeting in Istanbul — and that he would continue to serve “until our last breath.”

The tweet followed claims in the Turkish media that Simsek had offered his resignation to Prime Minister Binali Yildirim. A source close to Yilidirim told Al-Monitor on condition of strict anonymity that the reports were true but that Simsek had been persuaded to stay on "for the good of the country and for the good of the cause.” The source explained that by “cause” he was referring to Turkey’s Islamist movement. “In conservative circles if one is perceived to have betrayed the cause one is labeled a traitor for good.” The source added, “There are many people who feel, like Simsek, that things have gone too far but stay out of a mix of loyalty and fear.” The source’s claims regarding Simsek’s abortive resignation could not be independently confirmed.

Yildirim also declared that Simsek had not resigned, saying, "Our friend Mehmet Simsek is at the helm of his duties."

Speculation has been rife for some time that the British-trained economist who has been in the Cabinet since 2007 will step down. Simsek, more technocrat than politician, is seen as one of the few reform-minded voices left in the Turkish government. An ethnic Kurd who had enthusiastically embraced Erdogan’s now shelved overtures to the Kurds, he is known to oppose the president’s unorthodox views on the economy. In private meetings with investors he emphasizes the need to pursue European Union-inspired changes and return to the rule of law that has steadily faded under the emergency rule slapped on in the wake of the failed 2016 coup.