Morsi or Less

By Econ70 | 07/01/2013

By giving the Muslim Brotherhood Government of President Muhammad Morsi a 48 hour deadline to compromise with the opposition or else face an Army-imposed solution, the Army is forcing Morsi out. As a result, the opposition now has no incentive to compromise. The only choices remaining for the Morsi government: resign, set a date for…

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Pyramid Scheme

By Econ70 | 04/16/2012

Egypt’s foreign reserves are shrinking fast, from $36 billion in late ’10 to just $15 billion now. FRs are declining because foreign currency earned through tourism has collapsed. If this trend is not soon reversed the Egyptian pound will have to fall in value to curb demand for imports. But, that will cause inflation. To…

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