Egypt's new president vows unity, but powers are limited

After the numerous political turmoils in Egypt the county is on the verge of another precipice, this time an economic one. Both the Egypt’s government and its Western associates are hoping that the IMF will approve a $4.8 billion bailout plan for the country, reported Financial Times. If the first transaction is endorsed is would trigger a larger package of external capital, letting near $14.5 billion to roll into Egypt.   

It's been a tumultuous two years since Egypt became a democracy, and citizens are recognizing its anniversary by gathering to protest against President Mohamed Morsi. 

WASHINGTON — President Barack Obama begins his second term straining to maintain a good relationship with Egypt, an important U.S. ally whose president is a conservative Islamist walking a fine line between acting as a moderate peace broker and keeping his Muslim Brotherhood party happy with anti-American rhetoric.

Egypt's President Mohamed Morsi has appealed to Egyptians to work together to rebuild the country. In a speech Saturday before Egypt's newly convened upper house of parliament [The Shura Consultative Council], Morsi said it is time for the country to focus on "work, seriousness and effort." He announced plans to create jobs and investment in such areas as the Suez Canal and Sinai. Protests and violence in recent weeks further damaged an economy already in crisis since ...

More than two years after Egyptians received a new president there is mass dissatisfaction with the government. There is additional frustration that anyone who challenges may challenge him lacks a formula for change. One man though could have the power, money and the plan to prove a real threat to the Muslim Brotherhood's grip on the country.

CAIRO (AP) — The official approval of Egypt’s disputed, Islamist-backed constitution Tuesday held out little hope of stabilizing the country after two years of turmoil and Islamist President Mohammed Morsi may now face a more immediate crisis with the economy falling deeper into distress. In a clear sign of anxiety over the economy, the turbulence of the past month and expected austerity measures ahead have some Egyptians hoarding dollars for fear the currency is about to take a significant turn for the weaker.

The announcement Sunday that Muslim Brotherhood candidate Mohamed Morsi had won Egypt's historic presidential election spurred emotional celebrations from Cairo to Gaza, as well as more subdued congratulations from around the world.