Showing posts with label Barak Barfi. Show all posts
Showing posts with label Barak Barfi. Show all posts

Sunday, 17 April 2016

Egypt for Sale (Barak Barfi, Project Syndicate)

Last week’s visit to Egypt by King Salman of Saudi Arabia resulted in 22 agreements, including a $22 billion oil deal to prop up Egypt’s moribund economy. But the lavish aid came at a price: Egypt had to relinquish two Red Sea islands ceded to it by Saudi Arabia in 1950. The move exposed the Egyptian leadership’s narrative that the country remains a major regional power as a lie. Indeed, Egypt cannot even handle domestic challenges posed by a rapidly growing population dependent on unaffordable subsidies – a situation that jihadists are exploiting with much success. How did the country reach this point?

https://www.project-syndicate.org/commentary/egypt-for-sale-by-barak-barfi-2016-04