Egypt to Declare Bankruptcy in 3 Months! Stocks Tank 9.5% Sunday Amid Deepening Political Crisis. Military Intervention Possible

 

InvestmentWatch

GOOGLE TRANSLATE

Member of the Board of the Stock Exchange: the market is experiencing its worst period in its history

…

Predicted «reconcile» Egypt announces bankruptcy within 3 months in the case of the continuation of the current situation, without taking serious measures to save the current position.

http://www.almasryalyoum.com/node/1266716

Egyptian shares drop 9 percent amid deepening political crisis

The bourse suspended trading for half an hour after intense selling by investors, a source at the exchange told AFP.

The drop comes as Egyptians have been deeply split by Morsi’s move to place his decisions beyond judicial scrutiny with rival rallies sparking violence in several major cities.

Sunday’s losses on the Egyptian Exchange’s EGX30 index are among the biggest since the turbulent days and weeks after the ouster of authoritarian leader Husni Mubarak last year, AP said.

http://english.alarabiya.net/articles/2012/11/25/251743.html

 

Futures Trader Tweets:

“Egypt expected to declare bankruptcy in three months, who will bail them out? Iran? Hamas?”

https://twitter.com/peder86a

Senators threaten to end aid to Egypt
Power grab stirs protest in Cairo

Sen. John McCain, Arizona Republican, said that while the U.S. is thankful for Mr. Morsi’s help facilitating a cease-fire between Israel and the Gaza Strip’s Hamas rulers, he criticized Mr. Morsi’s decision to give himself near-absolute power, which has prompted days of violent street protests in Egypt.

“To assume this kind of power is unacceptable to the United States of America,” Mr. McCain said on “Fox News Sunday.”

The senator warned that Egypt risks a “repeat of the Iranian experience in the 1970s,” referring to the 1979 Iranian revolution in which street demonstrations overthrew the regime of Shah Mohammed Reza Pahlavi, a pro-American dictator, only to put into power a repressive Islamist theocracy.

Read more: Senators threaten to end aid to Egypt – Washington Times

http://www.washingtontimes.com/news/2012/nov/25/mccain-egypt-risks-takeover-military-or-extremists/#ixzz2DKLYStFn

White House silent as Egypt’s president grabs power, moves toward Shariah Islamic law

https://twitter.com/MindRescue

People still want to overthrow the system: 23-24 November

Read more at http://investmentwatchblog.com/breaking-egypt-to-declare-bankruptcy-in-3-months-stocks-tank-9-5-sunday-amid-deepening-political-crisis-military-intervention-possible/#31YzEMufbTOqyZIB.99

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