By now we are all used to developments in predominantly Muslim countries. The Arab Spring has initiated a series of uprisings, but not for the better. I am sitting in my office stifling through report after report and how the problems in the Muslim world impact our business there. It is hard to commit investments to countries where the leadership changes frequently and by unnatural means.
There are plenty of countries who do require ample investment
and we are not objected to it by any means, but the political risks pose a
challenge. Egypt is a prime example; the Arab Spring caused a change in
leadership and the election of Islamist Morsi who is a member of the Muslim
Brotherhood. Politics and religion should never be mixed and Morsi was a clear
failure and evident sign how the Arab Spring in 2011 did ring in an era of
negative change.
The Egyptian military watched for over one year how Morsi
mishandled the country they vowed to protect and this time Egypt needed
protection from the President they elected. Last Wednesday Morsi was ousted by
the military after given a 48 hour ultimatum to handle the violent protests and
mismanagement of Egypt. Morsi and his Muslim Brotherhood where nothing but talk
and gave other Islamist groups such as Hamas, which is a globally recognized
terrorist organization, a platform for cooperation.
Egypt suffered under the Morsi rule and the military could
not stand to watch anymore or wait for next election. After the ouster of Morsi
the Egyptian military made clear it had no intentions to rule the country and
nominated Adli Mansour as interim President and since July 5th more
than 1,000 were injured while 36 deaths have been reported as Islamists crashed
with security forces as well as Morsi opponents.
The fast the Morsi and his Islamist Brotherhood is
affiliated with Hamas makes the Islamist Brotherhood a terrible choice to
govern Egypt. Having said that it will be a crucial mistake to hold elections
without allowing the extremists and their political wing to be present in order
to illustrate a democratic process in which Egyptians have the chance to defeat
the Islamists in elections. A full exclusion of the Muslim Brotherhood in the electoral
process would drive the extremist underground and breed a new generation of
terrorists.
Elections should commence as soon as possible and the Muslim
Brotherhood should be allowed to have their candidate on the ballot. The hope
is that Egyptian voters will defeat the extremists by political means and as history
shows that if extremists are elected the military is there to protect the country
and oust them if necessary.
In a very positive step for Egypt, interim President Mansour
held talks with Dr. ElBaradei who is a pro-reformer and used to be head of the
UN’s nuclear watchdog agency. He is the best choice for Egypt out of all
available candidates and he will at least try to reform the country and create
positive change. As talks are ongoing Mansour’s administration has started to
replace Morsi picked individual at key political posts which delivered another
blow to the extremists.
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