Tuesday, November 27, 2012


Anti-Morsi forces - Egypt Clashes

"The Egyptian economy ‘is going to hell in a handbasket’ and could prompt violence and riots in the streets, Mahmoud Cherif Bassiouni told IBA Global Insight..."

IBA - Egyptian economy 'going to hell in a handbasket'

Anti-Morsi protest 27 November 2012. Credit: REUTERS/Mohamed Abd El Ghany - Mursi opponents clash with police in Cairo

Under Mubarak, the economy was booming and poverty was being reduced.

Now there is high unemployment and "twenty million are at the poverty level."

Bassiouni believes an inflationary rise of ten per cent could double this number.

IBA - Egyptian economy 'going to hell in a handbasket'

"There is much wrong in Egypt these days, but few things are as irritating and noxious as piles of rotting waste...

"The trash deluge is part of an array of social and economic setbacks facing this nation since last year's overthrow of Hosni Mubarak. Power outages, crime and fears that subsidies may be cut on bread and propane have unnerved the poor and middle class."

Streets filling with trash in post-revolution Egypt

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