ANKARA Turkish Prime Minister Bulent Ecevit stormed out of a meeting of political and military leaders on Monday, saying the president had insulted him and a "serious crisis" had arisen.

Ecevit, his voice shaking after an abortive session of the powerful National Security Council, quickly called an emergency cabinet meeting.

He gave no details of the dispute, but the men have frequently been at odds since President Ahmet Necdet Sezer was elected by Parliament, with Ecevit's backing, last May.

Turkish shares tumbled 11 percent on news of the row, showing how concerned markets are that there should be no instability to endanger fulfillment of a stringent International Monetary Fund (IMF) financial reform program. Turkey is only just recovering from a financial crisis in late 2000.

"Nothing like this has been seen before ... I left the meeting after finding the president preaching at me in a manner beyond the rules of politeness or the traditions of the state," Ecevit told journalists.

"This is a serious crisis. We are going to have to reach a healthy solution to this, of course, "added Ecevit, flanked by senior ministers from all parties in his three-party coalition government.

"I was either going to answer him in the same style or leave. That is why I chose to leave the meeting."

Turkey is just entering a crucial phase in a three-year IMF program designed to cut inflation, which reached up to 100 percent in the 1990s.

The National Security Council brings together senior military leaders, including the powerful chief of general staff, and top government ministers. It is chaired by the president, but the influence of the military is particularly strong.

Meetings usually last hours. Monday's was little more than half-an-hour old before Ecevit left.

(Reuter)