At the end of November, the Egyptian court dropped corruption charges against Hosni Mubarak, former president of Egypt, who was alleged to have stolen an estimated $1.2 billion from the country. This turn of events now means that one more despot has been allowed to steal from his own citizens and not face any consequences.
I expect to see the new Egyptian government adopting tough economic policies backed by military might. That may allow it to shed the subsidies without forfeiting power. However, it will not restore investor confidence or win back the tourists who account for nearly 25% of the economy.
In terms of the Arab Spring, Egypt is the most evolved nation. Syria is still mired in phase one; Libya is in phase three. But if the constitution is indeed accepted by the populace. Egypt will have made it to phase six -- it will have effectively completed its transition to democracy. Egypt presents the most significant storyline of the Arab Spring because it offers us the best view of what the future might look like in the Middle East. And what exactly is that?
The stage was set at Boca Raton's Lynn University. The desk dusted, chairs put in place and zingers primed and ready for volleying. Oh, and it was supposed to be about Foreign Policy. Right? Well it kind of was. Kind of. According to Romney, American grade school teachers are part of American foreign policy. Confused? Wait, there's more...
Even after the Arab Spring, it is too early to tell what Egypt's fate will be. But if there's one thing to be said, it's that military intervention in the form of Ahmed Shafik winning the election might actually save the country. The other presidential option is the leader of the Muslim Brotherhood, a ruthless organization which supported the Nazis, and seeks to suppress democracy in the Middle East.
The trial of Mubarak will have the unintended consequence of teaching incumbent Arab governments that either they repress their protest movements or else face a similar wrath to that of Mubarak.
Inside the courtroom in Cairo was the 83-year-old former president, on a hospital bed inside a cage. Outside supporters and