December 28, 2012

Egypt's Economy a Problem for Morsi

Alan Philps, The National

AP Photo

In defiance of all appearances, Egypt's President Mohammed Morsi has declared "the dawn of a new Egypt" following the implementation of the new constitution. For him, Egypt will now be fairer, more closely in touch with its Islamic roots and open for development without the stifling cronyism of the Mubarak era.

The reality of what awaits the country is likely to be far harsher: galloping economic decline that the Muslim Brotherhood, the former underground movement that now holds power, will be ill equipped to control.

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TAGGED: Muslim Brotherhood, Mohamed Morsi, Egypt

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