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Posts Tagged ‘Gulf

Egypt’s Arabian patrons

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To follow up on the last post:

UAE offers Egypt $3 billion support, Saudis $5 billion
Patrick Werr; Reuters; Jul. 9th, 2013

(Reuters) – Saudi Arabia approved $5 billion in aid to Egypt on Tuesday and the United Arab Emirates has offered $3 billion in desperately needed support for the economy after the army ousted the Islamist president last week.

It became discernible on July 7th that the UAE would be the first of the donors, and it makes perfect sense—a few billion is a small price to pay for the Gulf states to ride the wave and discredit the Muslim Brotherhood, one of their own chief domestic destabilizers.

Now, bread and fuel subsidies in Egypt will be back on track, and those existential concerns—which drew some citizens out of their usual apathy and against Morsi—are no longer. Once the rage of a disaffected Egyptian Muslim Brotherhood subsides, an uneasy political peace should resume until the next elections.

Written by M. James

July 9, 2013 at 8:57 pm

Posted in News, Politics

Tagged with , ,