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PIMCO's Mohamed El-Erian - Silver Lining in Egypt's Troubles

November 30, 2012 | About:
Dheeraj Grover

Dheeraj Grover

18 followers
Credit and Source: www.cnnfn.com, Fortune

Egypt's political and economic future is challenging, and for understandable reasons. But it is too early to give up on the country.

The very last thing a struggling Egyptian economy needed is a domestic political crisis that divides its leading personalities, pits the judicial branch against the executive, and ignites street protests. Yet this is exactly where the country finds itself following Thursday's decree that grants more power to the president.

The result is greater anxiety, both within and outside Egypt – so much so that more people seem to be giving up on the country's ability to complete its bumpy multi-year transition from dictatorship to greater democracy and respect for human rights. Moreover, in the short term, widespread global admiration for President Morsi's crucial role in brokering a ceasefire in Gaza between Israeli and Palestinian officials has given way to concern about an internal grab for power.

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About the author:

Dheeraj Grover
I am an individual investor with deep interest in the field of value investing. My ideas and thinking is inspired by highly respected value investors like Ben Graham, Warren Buffett, Walter Schloss, Bill Ruane and Tweedy Browne

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