Hard reality is steering...[a] transformation. Confronted with a badly sinking economy, the Brotherhood doesn't have the luxury of harping endlessly about Zionist conspiracies, American hypocrisy, or bikini-clad tourists—not if it wants to put Egypt back together again.
Tourism revenue dropped by at least one-third since the uprising, according to government statistics. And billions of dollars of annual foreign investment—which peaked at $13.7 billion in 2007—were almost entirely choked off.
"Egypt is running smack into an economic wall," said Karim Sadek, a managing director at Citadel Capital, a Cairo-based private-equity firm.
Read it all.
Filed under: * Culture-Watch Globalization * Economics, Politics Economy Politics in General * International News & Commentary Middle East Egypt * Religion News & Commentary Other Faiths Islam
To comment on this article: To article and comments
© 2013 Kendall S. Harmon. All rights reserved.
For original material from Titusonenine (such as articles and commentary by Dr. Harmon) permission to copy and distribute free of charge is granted, provided this notice, the logo, and the web site address are visible on all copies. For permission for use in for-profit publications, please email KSHarmon[at]mindspring[dot]com