As I write this, the Egyptian state seemingly totters on the brink of collapse. One last push from what appears to be a genuine, spontaneous popular uprising may be all it takes to send “president for life” Hosni Mubarak into exile or to a wall with (perhaps) a blindfold and final cigarette.
That’s how it looks, anyway. Predicting the future of developments like this is always risky, but with the army apparently operationally neutral and its troops openly fraternizing with the revolutionary masses, I’d strongly advise against buying Egyptian government bonds at the moment.
The question, as always at times like this, is “what next?”
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James Tuttle,
Regular Columnist, THL
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