Daily Archives: November 28, 2012

What’s next in Egypt following protests against Morsi?
Almost two years after the revolution that toppled Hosni Mubarak in Egypt, Cairo’s Tahrir Square is once again the scene of angry demonstrations. This time, however, the object of protestors’ anger is Mohamed Morsi, an elected president and leader of the Muslim Brotherhood, whose proposed reforms of presidential powers have sparked accusations that he is setting up a new dictatorship. Heba Saleh, Cairo correspondent, and Roula Khalaf, Middle East editor, join Gideon Rachman to discuss what’s next for Egypt.

Esther Bintliff

IMF chief Christine Lagarde arrives at Monday’s eurogroup meeting where Greek deal was struck.

When eurozone finance minsters announced their long-delayed deal to overhaul Greece’s second bailout early Tuesday morning, there was much they didn’t disclose.

The most glaring was how big a highly-touted bond buyback programme would be, a question dodged repeatedly at a post-deal news conference. But there were other things that were left out of a two-page statement summing up the deal, including how much the European Central Bank was making on its Greek bond holdings, profits that will be returned to Athens as part of the agreement.

It turns out, those were not the only – or even the biggest – unanswered questions left after the early-morning deal. As we report in today’s dead-tree edition of the FT, ministers failed to find enough debt relief measures to get to the purported Greek debt target of 124 per cent of economic output by 2020, far above the 120 per cent target set in February.

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