Fri, Jul 05, 2013 - Page 1 News List

Egypt swears in chief justice as new president

AP and Reuters, CAIRO

German Foreign Minister Guido Westerwelle called the latest events in Egypt “a serious setback for democracy,” while NATO Secretary-General Anders Fogh Rasmussen said he was “gravely concerned” about the situation.

The African Union said it was likely to suspend Egypt from all its activities and Turkey said the army’s overthrow of Morsi constituted an “unacceptable” military coup.

However, the new emir in Qatar, which has provided billions of dollars in aid to Egypt following the ousting of Mubarak, congratulated Mansour on his appointment.

The markets reacted positively to Morsi’s exit. Egypt’s main stock index surged to a one-month high at the opening yesterday, gaining 6.4 percent.

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