DAILY BASKET – NEWS COMMENTARY
US Policy Swing – Egypt?
MARSAL COMMENTS: It was almost common knowledge, that the US policy (under Obama & Hillary Clinton) encouraged if not instigated the downfall of Mubarak of Egypt and the election/installing of Mursi as president. And when the Egyptian Army, under General Sisi, responded (at the behest of the majority of Egyptians) and overthrew Mursi, the US took a snotty stand and refused to continue its political, financial and military support of Egypt.
A new “scene” in the Middle East Drama has now begun. President Trump and President Sisi recently met in Washington and exchanged the “sweetest” words and promises. They agreed on everything: “advancing peace throughout the Middle East, including in Libya, Syria, and Yemen, and expressed interest in supporting Israel and the Palestinians in moving toward peace”.
Trump went one step extra and expressed that the US is “very much behind President Sisi. He’s done a fantastic job in a very difficult situation. We are very much behind Egypt and the people of Egypt”.
What is being cooked now? Most likely and omelet or another short term/quick dish.
GENERALLY: On the surface, appears optimistic.
NEGATIVE FOR: Saudi? Qatar? Turkey? Hamas?
POSITIVE FOR: Egypt. At least for now. Especially as a few days after the meeting, the IMF announced that it is closely cooperating with Egypt on helping it with its economy – the timing is unbelievable.
IMPACT POTENTIAL: Medium, at least until we see how long this policy shift lasts.
TIME SCOPE: Short Term