Egypt political crisis sends cost of debt insurance soaring
By Robin Wigglesworth in London and Heba Saleh in Cairo
Egyptian financial markets have been rattled by a deepening political crisis in the pivotal Arab state, sending the cost of insuring against a government debt default to a record this week.
A combative speech by Islamist president Mohamed Morsi late on Wednesday plunges the market and failed to assuage fears that Egypt’s various political movements could clash violently at a planned mass demonstration of government opponents on Sunday.
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