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Egyptian Coup Of 2013: Econometric Analysis

1567 words - 7 pages

This is not surprising, since the main losers in the events of January – February 2011 were representatives of the so-called "Gamal Mubarak team" who were young businessmen and politicians. The son of Egyptian President actively promoted them to key positions in government (primarily the Shura Council, the People's Assembly and the Cabinet of Ministers) and the ruling National Democratic Party (NDP). By that time, the split within the Egyptian political elite has not been overcome, and the Egyptian elite could not be transformed to remain in power. Attempt of such conversion led to a split between the "young" guard (Hosni Mubarak team) and "old" guard (the Army) within the elite. This conflict has been becoming ripe for a long time and was largely caused by the resentment of Gamal Mubarak as a potential successor of Hosni Mubarak by Egyptian generals . As a result, the Egyptian military took a neutral position on the protests against Hosni Mubarak, but sided with the protesters in the moment when "Gamal Mubarak's team" tried to decide the outcome of the confrontation on their own, organized "The battle for Tahrir" on February 2, 2011 also known as "Camel Battle" .
Subsequently, this led to a number of loud legal proceedings against individuals involved in the incident. In accordance with the report of the investigative committee at the Supreme Council of the armed forces of Egypt sent in March 2011 to the Attorney General, Abd al-Nasser al-Gabri and Youssef Khattab, deputies and businessmen from the NDP in the People's Assembly and the Shura Council, representing District Haram of Giza, were involved in the organization of clashes at Tahrir Square. Another two businessmen from the NDP covering the costs of the actions organized by Gamal Mubarak and al-Sherif were Ibrahim Kamel, a multimillionaire who earned his money through his investments in Egypt, Great Britain and Russia, and Muhammad Abu Eneym, a former chairman of the industrial committee in parliament and chairman of the board of directors at the Cleopatra Group .
As a result, many Egyptian businessmen associated with the NDP have either left the country or were put behind bars; this was accompanied by their deliverance from their own assets, collapsing share prices, falling stock indexes, etc. The contrast with July's "revolution" of 2013 accompanied by not collapse but rather rapid growth of stock market indices is, of course, obvious.
We should stress the fact that after "Muslim Brotherhood's" victory in the parliamentary elections of 2011-2012, M. Moursi's coming to power, subsequent dissolution of the Supreme Council of the Armed Forces and dismissal of Defense Minister Mohammed Tantawi as well as the Army Chief of Staff Sami Adnan with the following changes in military ranks, the situation became alarming even for the Egyptian generals. Already by 2013, the Egyptian Army, being one of the most powerful "businesses" of the country, along with the businessmen survived in post-Mubarak...


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