US Aid to Egypt is counterproductive

Egypt has been gripped by a deepening economic crisis since the country's revolution began on Jan 25, 2011.

Now that the Obama administration announced $250 million in aid to the country, the question that MUST be raised is whether such aid will be useful — or on the contrary — counterproductive?

An analysis of the current economic situation in Egypt reveals that the country’s problems stem largely from poor decision-making by Islamist president Mohammed Morsi and his supporting Muslim Brotherhood (MB).

For example, because of their ideological beliefs, the MB did not promote the country’s tourism industry, which has been a vital piece of the economy. Additionally, Morsi’s attitude toward Naguib Sawiris, Egypt's biggest businessman, and others have scared away investors.

Moreover, since Morsi attempted to consolidate power and placed himself above the law, the country has grown unstable. He essentially allowed thugs to surround Egypt’s Supreme Constitutional Court and prevented judges from doing their job, which was likely to involve ruling against Morsi’s power grab.

Morsi also turned a blind eye to his supporters' vicious attacks (and murders) of those who were peacefully demonstrated in front of his palace.

He further weakened the country by breaking his pre-election promise to include political opponents in the process to draft a new constitution.

The recent arrest warrant for satirist Bassem Youssef did not make matters any better.

Consequently, the U.S. offer to provide financial aid to the Muslim Brotherhood-led government will only have major negative consequences.

Read Latest Breaking News from Newsmax.com http://www.newsmax.com/US/US-Aid-Egypt-Counterproductive/2013/04/02/id/497507#ixzz2PNqF1TxQ
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