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Topic: Egypt´s stock market
plummets after Morsi´s decree |
Egypt´s stock market
plummets after Morsi´s decree
Associated Press, by Staff
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Original Article
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Posted By:horacer, 11/25/2012 4:37:17 PM
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| CAIRO - Egypt´s benchmark stock index has plunged 9.5 percent halfway through the first trading session since the country´s Islamist president issued decrees to assume near absolute powers. Sunday´s losses on the Egyptian Exchange´s EGX30 index are among the biggest since the turbulent days and weeks after the ouster of authoritarian leader Hosni Mubarak last year. The fall follows the announcement Thursday by President Mohammed Morsi of a package of decrees that place him above any oversight, including judicial, and extend the same protection to two Islamist-dominated bodies:
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Comments:
The Director of the Exchange predicts bankruptcy in 3 months. Guess who will bail them out.
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Reply 1 - Posted by:
Pearson365, 11/25/2012 5:00:56 PM (No. 9033454)
Question to be answered is whether the Egyptian military remains on the side lines so that Morsi & his Muslim Bros can impose a complete dictatorship. If military moves to seize power, Morsi´s fanatics may wage civil war, similar to slaughter in Syria. Obama´s primary role in uprising will be to denounce all criticism of Susan Rice as racist & sexist.
Has anyone noticed how Syria, Libya and Afghanistan have disappeared from media coverage? Sure sign of pending Obama policy failures.
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Reply 2 - Posted by:
NYBruin, 11/25/2012 5:10:13 PM (No. 9033461)
Morsi´s power play will do nothing to improve tourism, the 2nd largest industry in Egypt.
One bad decision after another. . .
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Reply 3 - Posted by:
gesundheit, 11/25/2012 5:51:43 PM (No. 9033489)
If Obama hadn´t been so eager to send Hilliary rushing off to Egypt to end the Hamas-Israel war, they´d still be fighting, and the world would still be preoccupied with hating Israel while watching photo-shopped images of Palestinian urchins being carried away on stretchers.
Which would have given Mohamed Morsi some privacy away from the world´s stage to consolidate his totalitarian dictatorship by eliminating his antagonists. But with the whole world watching, Egyptian security forces have only managed to kill one protestor so far.
And where are Obama and Hillary now when their friend Mohamed so desperately needs them?
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Reply 4 - Posted by:
mackrand, 11/25/2012 6:35:42 PM (No. 9033553)
Tourism? What Tourism?
Any sensible person would head for Iceland or Thailand or Sri Lanka before the Middle East. And the turmoil and violence there isn´t going to end any time soon either! If Obama keeps his hand in, the situation stands to worsen and take forever to resolve itself.
I heard a story about a Buddhist Monk who was being questioned about his pacifist views. "What", he was asked, "would you do if you walked around a corner and were confronted by a gang of thieves?" He said that "I just wouldn´t go around that corner!" So a prudent person, just like that Buddhist Monk, would stay away from those corners in the Middle East.
Their stock market investors are departing from that corner as fast as their sell orders are executed.
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