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Happy new year, Cairo?

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And while in my few brief conversations with Egyptian contacts the focus has been disappointment with the new Muslim Brotherhood-backed constitution, or anger at Morsi and the Brothers' apparent accommodations to a military hierarchy that has cast a shadow over Egyptian politics for a generation, it is economic conditions that will make or break the emerging new Egyptian political order in 2013.

The two, of course, are not mutually exclusive. While Morsi has spoken of a need to restore a battered Egyptian economy, neither he nor anyone else has been better able to provide stability or bread than the military was when it was running Egypt from February 2011 until June of this year.

On one level, they can be forgiven. The past year has seen certain post-Mubarak assumptions (or hopes) seriously ruptured. A popular Egyptian view of the military as protector of the nation was eroded. In February, more than 70 people died following a soccer match in Port Said at which security, the responsibility of the army, was conspicuous by its absence.

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