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Turkey's Erdogan to call a new election for Nov. 1; won't let opposition try to form govt

A man protesting against Turkey's operations against Kurdish militants holds a sign that reads in Turkish: "Peace Block" , in Istanbul, Wednesday, Aug. 19, 2015. There has been a sharp escalation of violence between Turkey's security forces and the Kurdistan Workers' Party, or PKK, along with the collapse of a two-year peace process with the rebels. Dozens of people, mostly Turkish soldiers, have died since July in the renewed violence. (AP Photo/Cagdas Erdogan) TURKEY OUT

A man protesting against Turkey's operations against Kurdish militants holds a sign that reads in Turkish: "Peace Block" , in Istanbul, Wednesday, Aug. 19, 2015. There has been a sharp escalation of violence between Turkey's security forces and the Kurdistan Workers' Party, or PKK, along with the collapse of a two-year peace process with the rebels. Dozens of people, mostly Turkish soldiers, have died since July in the renewed violence. (AP Photo/Cagdas Erdogan) TURKEY OUT  (The Associated Press)

Turkish President Recep Tayyip Erdogan says he will call a new election — likely to take place on Nov. 1. — after the legal period for the formation of government ends at the end of this week.

Prime Minister Ahmet Davutoglu has already abandoned efforts to build a coalition government, following the failure of talks with the leaders of two smaller parties.

Turkey's opposition leader had asked Erdogan to give him the mandate to try and form a government but Erdogan said he has no time to waste and will call a new early election.

Erdogan reportedly is hoping that the ruling party which he founded can regain the majority it lost in the June election.