how egyptian unrest is going to effect emerging market

QUESTION NO. 45

QUESTION…HOW EGYPTIAN UNREST IS GOING TO EFFECT EMERGING MARKET……………

how egyptian unrest is going to effect emerging market

INTRODUCTION:

Egypt, the most  populous  country in the Arab world, erupte  in mass protests in January 2011, as the Revolution  in Tunisia seemed to inflame decade’s worth of  smouldering  grievances against the heavy- handed   rule of President Hosni Mubarak. After 18 days of angry protests, Mr. Mubarak resigned and  turned  over all power to the military on Feb. 11, 2011, ending his 30 years of autocratic rule and bowing  to a historic popular uprising that has transformed politics in Egypt and around the Arab world. The announcement, delivered during evening prayers in Cairo, set off a frenzy of celebration, with  protesters shouting “Egypt is free!”

BACKGROUND:

Egypt is a heavyweight in Middle East diplomacy, in part because of its peace treaty with Israel, and  as a key ally of the United States. The country also has one of the largest  security  forces in the Middle East. Mr. Mubarak has been in office since the assassination of Anwarel -Sadat  on Oct. 16, 1981, whom he served as vice president. Until   the recent unrest, he had firmly resisted  calls to name a successor. He had also successfully  negotiated  complicated issues of regional security, solidified a relationship with Washington, maintained  cool but correct ties with Israel and sharply suppressed Islamic fundamentalism and terrorism. The government has maintained what it calls an Emergency Law, passed first in 1981 to combat terrorism after the assassination of Mr. Sadat. The law allows police to arrest people without charge, detain prisoners indefinitely, limit freedom of expression and assembly, and maintain a special security court. While Mr. Mubarak's regime had become increasingly unpopular, the public long seemed mired in apathy. For years, the main opposition to his rule appeared to be the Muslim Brotherhood, which was officially banned but still commanded significant support.

DISCUSSION:

For three weeks Mr. Mubarak had said he would not seek re-election but refused to step down. His government appeared to be trying to wait the protesters out, offering reform plans that consisted of minor concessions. But the protesters, having beaten back an attempt by armed pro-government supporters to drive them from Cairo's Tahrir Square, managed to keep the movement's momentum going. More than 300 people are estimated to have died in Egypt since the turmoil began, according to human rights groups. The embattled, autocratic Mubarak wants to stay on until presidential elections in September, and oversee the transition toward a more open political system. He argues that if he quits now, more chaos will ensue. Egypt's embattled president Hosni Mubarak succumbed to the demands of hundreds of thousands of his compatriots and resigned from office, bringing to an end  three decades of autocratic rule. The announcement was delivered by Vice President Omar Suleiman in a brief statement on state television. Mubarak delegated control of the country's affairs to Egypt's army. The pro-democracy movement in Egypt consists of a loose alliance of diverse forces, included the  Muslim  Brotherhood and young educated Egyptians who have used the Internet to organize. Their shared  position  is  that  they  will  only  negotiate   the  terms of a transition once Mubarak leaves. U.S. officials are in talks with top Egyptian officials about the possibility of Mubarak immediately resigning and handing over power to a military-backed transitional government headed by Suleiman. U.S. officials speaking on condition anonymity say the U.S. isn't seeking to impose a solution on Egypt but has concluded Mubarak has to go soon if there is to be a peaceful resolution.

CONCLUSION:

 From the above discussion and  realistic  factor we got that the Egypt was ruled by a Autocratic Ruler who never show his  interest  for the development  of  the  Egypt. During his empire peoples of the Egypt faced the shortage of living things like food , sources of income ,etc.  A  common  man never satisfied with the  law and justice of his government.  After facing all these problems peoples want to break his autocratic empire. In the end we see millons of people on road of all cities of Egypt against the Hosni Mubarak. As a common man I also want the resignation of Hosni  Mubarak  from his post so that democracy  will arrive in the Egypt and play  part  In the development of Egypt . Finally  its  very  please to see that Mr. Mubarak gave his resignation on last Friday.

SUBMITTED TO……..

GURDEEPAK SIR………..

SUBMITTED By……..

NATASHA GOSWAMI

MBA-1(A)