The Egyptian pound has tumbled in recent weeks, but it could go much further. Here's why.
Egypt's presidential election Sunday was supposed to be the culmination of a transition to democracy. Instead, the military junta made it clear it has no interest in a truly democratic transition.
With parliament dissolved, a retired air force general and long-time Mubarak crony in a runoff for the presidency, and democracy activists in disarray, Egypt's ruling junta is in the catbird seat.
The record shows that some radicals can be persuaded to give up the gun when inducements and local conditions are right. The Pentagon recently spent $4.5 million to find out more.
Though Egypt and Israel insist the decision to end a gas sales contract wasn't political, it's hard to see annulling the largest ever contract between the two countries as anything but.