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Guide to the End of the World (Or, Explainer on Currency Devaluation)

REBEL ECONOMY

MorsiSpoutsRenaissance

With help from Bradley Hope, The National newspaper’s Cairo bureau chief. 

Egyptian President Mohammed Morsi has proved to be a recalcitrant negotiator with the opposition movement in Egypt over the past month, raising questions about the sudden move toward magnanimity in his speech Wednesday night where he appealed for calm and national dialogue.

Politically, he may be trying to seal the issue of the constitution once and for all through some compromises. (It passed with slim approval by 63.8 per cent of voters and only about a third of registered voters took part in the referendum).

But a bigger concern for the president and his Islamist supporters is the economy. The reputation of the Muslim Brotherhood’s new political power is on the line. The last thing the group wants is to be the stewards of a full-blown economic crisis, something that could tarnish their reputation and electoral viability in years…

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