It has been called a massacre, the deaths of nearly 500 people in clashes between the military and pro-Mursi supporters, after the ruling junta lost patience with the protestors occupying squares in Cairo and Alexandria. Bulldozer-tanks demolished the barricades Dr Mursi's supporters had built around themselves, and soon thus provoked the people started to throw bricks and stones at the tanks, and soon the army moved in to confront the protestors.
In the midst of this, or soon after it started, the Interim Vice President Mr El Baradei resigned, leaving the leadership mostly composed of military brass headed by General Sisi.
It has been a sad situation, and I hope and pray that during the one month of a State Emergency, when curfew is being enforced rigidly at night time, the ruling junta will consider the possibilities of how to now form a civilian government under its aegis and continue with restoration of the democracy and continuation of the economy vis a vis the world. The best solution, a pragmatic jigsaw fix, would be to reinstate Dr Mursi in a power-sharing leadership, which will appease the Muslim Brotherhood and not give U.S. the excuse to withdraw aid, which it could well do if the leadership is a de facto military one.
Under the aegis of the military, Dr Mursi can be relied upon to interpret the constitutional parameters of his duties. Perhaps if peace prevails, Dr El Baradei hopefully could be asked to also resume his position, perhaps as Joint Vice President with Dr Mursi. I am taking the liberty to give my impartial view, but I believe the Egyptian democracy must be saved at this first sign of trouble, so that it can continue to function normally with the tourism and trading, thereby putting this nation onto a path of Recovery, which it can achieve if there is a peaceful outcome to the current situation. I dread to imagine this nation of Nasser's and Anwar Sadat's people, who believe in Arab unity and regional peace, having such violence and anger which has visited Egypt in the last few days. I pray all sides will show restraint and unending patience and help to resolve the crisis peacefully.
The stock market in Cairo was a plunger, and the world markets too have taken fright, fearing escalation of violence in Egypt in the absence of a sound plan of reinstatement of an acceptable leadership that will appease the Muslim brotherhood protestors, who feel robbed of legitimate representation in the form of Dr Mursi, who the Yemini Nobel laureate Tawakkol Karman has described as 'the Nelson Mandela of the Arab world'.
The Oil price has headed up again, when really it should be heading down given the weak figure of 0.1 percent growth in Eurozone GDP. Okay, we don't have a recession, but it is very weak growth.
The high unemployment in Israel should give people food for thought. Oil price is far too high, and a few traders becoming millionaires will leave a lot of people suffering, especially in places like Yemen, Kenya, India, Pakistan, Bangladesh, Myanmar and China. High oil prices just slow the economies down, that is now pure common-sense, based on extensive data from the time Oil hit a high of $147 and saw the world economies suffer a slow down and the deepest recession in living memory.
May Allah inspire the Egyptian people to bridge their differences and set their nation back on track for peace and Recovery. My prayers are with all brothers and sisters in Egypt.