Daily Archives: June 18, 2012

A new dawn for Greece? Photo AP

Welcome to our rolling coverage of the eurozone, following  a narrow victory for parties supporting the bailout in Greece’s election. By Tom Burgis and John Aglionby in London and Shannon Bond in New York, with contributions from FT correspondents around the world. All times are London time.

23.40 Alright folks, we’re wrapping up for the night, but you can keep up with the latest developments on FT.com. Here are some of our top stories from Monday:

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Members of the ruling military council, Maj. Gen. Mohammed al-Assar, left, listens as Maj. Gen. Mamdouh Shahin, speaks during a press conference in Cairo, Egypt, Monday, June 18, 2012. Al-Assar, a senior member of the ruling council, said the generals would transfer power in a "grand ceremony." He did not give an exact date or mention Morsi by name. He said the new president will have the authority to appoint and dismiss the government and that the military council has no intention of taking away any of the president's authorities. "We'll never tire or be bored from assuring everyone that we will hand over power before the end of June," al-Assar told a televised news conference. (AP Photo/Sami Wahib)

Maj. Gen. Mohammed al-Assar, left, and Maj. Gen. Mamdouh Shahin, during a press conference in Cairo on Monday, June 18. AP Photo/Sami Wahib

The Egyptian daily newspaper, al-Masr al-Youm, summed up the country’s predicament brilliantly on Monday.

The military transfers power to the military,” read the headline.

While Mohamed Morsi, the Muslim Brotherhood presidential candidate, and Ahmad Shafiq, the generals’ favourite, battled it out all day, each claiming to have won the weekend presidential vote, the ruling military council had already decided who would be the real ruler: the generals themselves. Read more


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