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Turkey Enters New 'Phase' After Police Action

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Turkey's protests entered a new, more chaotic phase on Wednesday after riot police cleared Taksim Square in the early hours of Wednesday morning, denying protesters a key platform from which they had operated.

Analysts said the fact that the protesters were outside the political mainstream and didn't belong to any particular party had increased the odds the movement would fizzle.

"Now we're in the chaotic phase of the protests - we're not exactly sure what is exactly happening - from not knowing now who is protesting or what [they are protesting]," Ziya Meral, a Turkish researcher at the University of Cambridge, told CNBC on Wednesday.

"We do not see any change in voting patterns simply because more than 80 percent of the protesters at Gezi park (another focal point to protests) mention that there is no political party that they find themselves aligned with so they have no way to channel their grievances. This is part of the failure of the Turkish opposition to reach this disillusioned cohort," he added.

Meral said the government was presenting a more unified and co-ordinated approach after initially giving contradictory messages.

Prime Minister Tayyip Erdogan was expected to meet with the "organizers" of the anti-government protests which have spread throughout Turkey later on Wednesday. But after repeatedly dismissing the protesters as"riff-raff" a number of groups have refused to meet him.

Timothy Ash, head of emerging markets research at Standard Bank, said the meeting risked becoming nothing "more than a photo op."

(Slideshow: Turkish Turmoil-Scenes From the Turkey Protests)

According to Cambridge University's Meral, Turkey's democratic culture and international reputation had been harmed in the long-run by the government's stance – a sharp fall from grace for Erdogan who was elected with 50 percent of the vote two years ago.

(Read More: Turkish Riot Police Enter Istanbul's Taksim Square)

But, he added, the protests wouldn't impact on national elections due in 2014.

"What we've seen there in terms of numbers is not a revolution, it's not a Turkish spring, it's not a derailing of the Turkish regime," he added.

Hugh Pope, director of the Turkey/Cyprus project at the International Crisis Group told CNBC that the protests had so far been a "very confused response to the very strong government that is running Turkey today."

(Read More: Turkey Rules Out Early Polls, Thousands Defy Call to End Protest)

"I'm not sure where the unrest is going to go. We've had half of the provinces of Turkey that have seen some level of demonstrations."

Meanwhile in Turkey's financial markets relative calm seemed to have returned on Wednesday. Turkish stocks unofficially closed 2.45 percent higher at 76,880 points and the Turkish lira strengthened to 1.8785 against the dollar.

By CNBC's Holly Ellyatt, follow her on Twitter @HollyEllyatt