Dec 26, 2012
CAIRO – Egyptian President Mohamed Morsi has signed into law a new Islamist-drafted constitution he says will help end political turmoil and allow him to focus on fixing the fragile economy.
Anxiety about the deepening economic crisis has gripped Egypt in past weeks, with many people rushing to take out their savings from banks and the government imposing new restrictions to reduce capital flight.
Results of a national referendum announced on Tuesday showed Egyptians had approved the text with an overwhelming 63.8 percent, paving the way for a parliamentary election in about two months.
The win gives Islamists their third straight electoral victory since veteran autocrat Hosni Mubarak was toppled in a 2011 revolution, following their earlier wins in parliamentary and presidential elections.