- #666
nismaratwork
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WhoWee said:I'm not even sure what that means - didn't most of the big names on Wall Street back President Obama in the last election?
My question (to turbo that started this part of the debate) still hasn't been answered. What specifically is wrong with the largest industries in Egypt? Why do they need to restructure the operation of the Suez Canal, their banks, and their insurance industry (that services the canal)? What kind of restructuring is necessary? I also inquired about tourism - other than security the past few weeks - what is wrong with the industry?
A political change was called for and the new leadership needs to find a way to help grow the economy - to reduce unemployment. How does "restructuring" the leading industries achieve that goal? To achieve a 10% unemployment rate - they need to reduce unemployment by 23% (?) - that's about 18 million jobs -- and they want to raise wages?
That's going to require more than re-writing the constitution and ideological rhetoric. IMO - they should not jeopardize the successful business segments - or they could collapse the entire economy.
Of course you know what it means, but you disagree. Now, the Suez, I'm not sure... however I suspect that it's the cleanest thing run in Egypt given international interest and scrutiny. Beyond that, any system which allows its ruler to skim MORE than we've given over 30 years really should speak for itself. The Egyptian system as we know it now was established under Nasser, and further warped under Mubarak. I think the better question is, what IS the financial system in Egypt?
Given that there is nothing there, there... I guess you'd just call it "building", not restructuring.