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Egyptian Stocks Plunge 9.6% As ‘Islamofascism’ Rises; Clashes Escalate

Posted By admin On November 26, 2012 @ 5:58 am In Money Watch | Comments Disabled

Zero Hedge [1]
November 26, 2012

Egyptian stocks cliff-dived by their most since the Arab Spring in January 2011 as Morsi’s [2] reach-for-omnipotence [3] sends concerned ripples through the nation that they have replaced ‘military fascism’ with so-called ‘islamofascism’. Tensions are rising once again in Tahrir Square, but as Russia Today notes in this clip, the new regime is somewhat more heavy-handed than the previous one in its control of protesters. Critically, the Musilm Brotherhood’s opposition forces, who have been quite divided recently, are joining to fight the common enemy as clashes between pro-Morsi and anti-Morsi forces are erupting. Perhaps just as worrisome as the social unrest is the fact that Egypt’s Stock Exchange Director Said Hisham Tawfiq [4] fears “Egypt announces bankruptcy within 3 months in the case of the continuation of the current situation,” though we note Egypt CDS are near 16-month lows.

The EGX50 dropped a massive 9.5% today as markets are stunned my Morsi’s move…

Egyptian Stocks Plunge 9.6% As Islamofascism Rises; Clashes Escalate 20121125 Egypt1 0 [5]

and from Russia Today:

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URL to article: http://www.prisonplanet.com/egyptian-stocks-plunge-9-6-as-islamofascism-rises-clashes-escalate.html

URLs in this post:

[1] Zero Hedge: http://www.zerohedge.com/news/2012-11-25/egyptian-stocks-plunge-96-islamofascism-rises-clashes-escalate

[2] Morsi’s: http://www.zerohedge.com/contributed/2012-09-16/egypts-morsi

[3] reach-for-omnipotence: http://www.zerohedge.com/news/2012-11-23/brotherhood-offices-torched-egypt-turns-against-us-muppet-president-turned-temporary

[4] Egypt’s Stock Exchange Director Said Hisham Tawfiq: http://www.almasryalyoum.com/node/1266716

[5] Image: http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2012/11-2/20121125_Egypt1.png

[6] Mansour sworn in as Egyptian head of state; Morsi held by army; at least 14 killed in clashes: http://www.prisonplanet.com/mansour-sworn-in-as-egyptian-head-of-state-morsi-held-by-army-at-least-14-killed-in-clashes.html

[7] 30 Dead: Clashes in Cairo between Morsi supporters, opponents: http://www.prisonplanet.com/30-dead-clashes-in-cairo-between-morsi-supporters-opponents.html

[8] Egyptian ministers resign in wave as Army deadline nears: http://www.prisonplanet.com/egyptian-ministers-resign-in-wave-as-army-deadline-nears.html

[9] Egypt deploys troops to Suez to quell ‘out of control’ clashes: http://www.prisonplanet.com/egypt-deploys-troops-to-suez-to-quell-out-of-control-clashes.html

[10] After Morsi’s ouster, Egypt’s old guard is back — and Muslim Brotherhood is out: http://www.prisonplanet.com/after-morsis-ouster-egypts-old-guard-is-back-and-muslim-brotherhood-is-out.html

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