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Thread: Egypt army commander suspends constitution[W:95]

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    Re: Egypt army commander suspends constitution[W:95]

    Quote Originally Posted by cpwill View Post
    that is an excellent point. economic growth depends upon a certain threshold of predictability, and Egypt's economic problems do not belong to or disappear with Morsi.
    So neither tourism nor foreign investors were deterred by the Islamist government?

    Sure the economy won't be fixed over night, but getting rid of the Brotherhood is only bound to make it better.
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    Re: Egypt army commander suspends constitution[W:95]

    Analysts are optimistic that the ousting of President Morsi may presage a brighter future for Egypt's economy.

    Stocks in Cairo rose by 7% on Thursday on the news, their largest one-day percentage gain in over a year.

    Traders are hoping that Egypt's prospects will improve in the absence of Mr Morsi, even though the country's battered economy remains in crisis.

    Some analysts said a long-stalled loan from the IMF may now be possible, although others remained sceptical.

    "The technocrats will know how to deal with institutions - they will help the country financially because they have a clear agenda," said Sebastien Henin, portfolio manager at The National Investor, an Abu Dhabi-based investment firm.

    "There will be a definitive change to the business environment for international and domestic investors," he added.

    BBC News - Egypt analysts optimistic for post-Morsi economy
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    Re: Egypt army commander suspends constitution[W:95]

    Sounds like something the cons on the Sup. Ct. do from time to time ...

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    Re: Egypt army commander suspends constitution[W:95]

    Quote Originally Posted by L0neW0lf View Post
    So neither tourism nor foreign investors were deterred by the Islamist government?
    Foreign investment will not be spurred by the lack of stability and predictability brought on by the coup - quite the opposite. And Egypt's problems center mostly on the unfortunate facts that her State controls too much of her industry, and that she is a rentier economy with a new political inability to cut off rising expenditures. There aren't enough tourists in all the lands (and they are unlikely to come now - tourists do so dislike revolutions, counterrevolutions, spikes in kidnappings, and the like) to solve Egypt's structural problems.

    Sure the economy won't be fixed over night, but getting rid of the Brotherhood is only bound to make it better.
    That is.... for several reasons, not correct. I'm not saying that the Brotherhood was inherently good for the economy, nor am I saying that they had any kind of especial financial acumen (though a study of the success of Muslim finance over the past few years might suggest that when it comes to avoiding debt-fueled speculation, they may be on to something), but.... yeah. Outside of a temporary IMF loan (which itself is long-term harmful), I see very few ways in which this coup is "bound" to make the economy better.

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    Re: Egypt army commander suspends constitution[W:95]

    Quote Originally Posted by L0neW0lf View Post
    "The technocrats will know how to deal with institutions - they will help the country financially because they have a clear agenda," said Sebastien Henin, portfolio manager at The National Investor, an Abu Dhabi-based investment firm.
    BBC News - Egypt analysts optimistic for post-Morsi economy
    Think about what he just said. The Mubarak crowd is back in charge. The people who kicked off this revolution by producing a failed economy a couple of years back.


    hey, I hope I'm wrong. It would be a great thing for the 80-odd million Egyptian people, who don't deserve to suffer because their state is stupidly structured. But I really don't see the military being willing to give up its' economic power now.

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    Re: Egypt army commander suspends constitution[W:95]

    Quote Originally Posted by chromium View Post
    Is this going to be an annual thing I wonder, where they install a new muslim extremist. I don't see how this country as a whole deserves voting rights, when they continue to operate under a theocracy and rely on military coup.
    Who says there will be a new one? (indeed who were the previous ones? the Mamluks? ) the first one barely lasted two years.

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    Re: Egypt army commander suspends constitution[W:95]

    Quote Originally Posted by windowdressing View Post
    Sounds like something the cons on the Sup. Ct. do from time to time ...
    The Supreme Court? SCOTUS?

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    Re: Egypt army commander suspends constitution[W:95]

    Quote Originally Posted by cpwill View Post
    That is.... for several reasons, not correct. I'm not saying that the Brotherhood was inherently good for the economy, nor am I saying that they had any kind of especial financial acumen (though a study of the success of Muslim finance over the past few years might suggest that when it comes to avoiding debt-fueled speculation, they may be on to something), but.... yeah. Outside of a temporary IMF loan (which itself is long-term harmful), I see very few ways in which this coup is "bound" to make the economy better.
    But those few ways are important. Foreign investment fled the country when the MB took over, killing their currency and drying up the job market.

    Granted, it isn't likely to come back in the middle of a civil war either...

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    Re: Egypt army commander suspends constitution[W:95]

    Quote Originally Posted by cpwill View Post
    I explicitly pointed out the opposite - that Morsi had not done all those things, but that if he had rebellion would be justified.
    Which Democratic principle did he miss then? The problem is that Egypt wants a Democracy and Islamists do not believe in Democracy. This created the conditions for overthrow. Morsi was ruling as a religious dictator and a 51% majority of the vote did not justify that. Even you agreed that America should rebel if a President became dictator.
    Last edited by iguanaman; 07-06-13 at 04:49 PM.

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    Re: Egypt army commander suspends constitution[W:95]

    Quote Originally Posted by iguanaman View Post
    Which Democratic principle did he miss then? The problem is that Egypt wants a Democracy and Islamists do not believe in Democracy. This created the conditions for overthrow. Morsi was ruling as a religious dictator and a 51% majority of the vote did not justify that. Even you agreed that America should rebel if a President became dictator.
    I don't disagree that Morsi was an Islamist and that Islamists generally do not believe in Democracy... though they can adjust to it (see: Iran, which is sort of half a democracy). Nor do I claim that Morsi wasn't an authoritarian. I simply point out that military coups and mobs do not denote legitimacy in a representative form of government - elections do.

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