- Weekend attack in Sinai considered a national tragedy for Egypt
- Europeans take extraordinary measures to keep Greece from bankruptcy
Weekend attack in Sinai considered a national tragedy for Egypt
Mohamed Morsi (AP)
Last weekend ambush in Egypt's Sinai region near the border with
Israel by armed militants who killed 16 Egyptian soldiers is
transforming Egyptian public opinion. The public is furious at both
the army and the new president Mohamed Morsi for failing to protect
Egypt, especially since it's been revealed that Israeli intelligence
had warned the Egyptians in advance that an attack was coming. Ever
since the Egyptian uprising began in January of last year, it's been
pretty clear that there are political differences among Egyptians, but
no serious fault line dividing them. But the exception has always
been with the Bedouins in Sinai, where violence is growing. In an
attempt to try to bring the situation under control, Morsi fired his
intelligence chief on Wednesday, and launched "Operation Eagle," with
helicopter gunships striking positions where the attackers are
believed to be staying. According to an unnamed army commander, the
attacks killed 20 terrorists and destroyed three armored cars
belonging to terrorists. Several Egyptian security officers have also
been wounded.
Al-Jazeera and
Al-Ahram (Cairo)
Europeans take extraordinary measures to keep Greece from bankruptcy
If anyone in Europe ever meant anything they said, then Greece would
be bankrupt by now, or by August 20 at the latest, when it has to make
a 3 billion euro payment. But the European Central Bank (ECB) is
continuing to bail out Greece, and is extraordinary procedures to
avoid direct violation of EU and eurozone treaties. In an "ordinary
bailout," Greece might issue bonds that the ECB could then purchase
from Greece, which would use the money to pay off its debt. But it's
illegal, under existing treaties, for the ECB to bail out any country
by purchasing its bonds. Leaked information reveals how the ECB will
get around this restriction. Greece will issue the toxic bonds, but
Greek banks will buy them, not the ECB. But the ECB will then buy
them from the Greek banks.
Spiegel
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