Reacting to Morsi’s victory claim, the main index of Egypt’s stock market plunged for the second day running on Tuesday, adding to the woes of investors
Updated 12:57 PM ET (AP) CAIRO – A campaign spokesman for Hosni Mubarak’s ex-prime minister said Tuesday that Ahmed Shafiq has won Egypt’s presidential election, countering the Muslim Brotherhood’s claims that its candidate was the winner and setting the stage for a divisive fight for the leadership. The rival claims potentially open a new chapter of unrest at a time when opposition already is growing against a constitutional declaration announced by the military on Sunday which robbed the next president of many powers and gave the generals who succeeded Mubarak last year legislative powers as well as control over the process of drafting a permanent constitution. The Brotherhood is already gearing up for a confrontation with the ruling military. It has called for mass demonstrations in Cairo and elsewhere on Tuesday to protest the military’s declaration, which made changes to the interim constitution, as well as a court ruling last week that dissolved parliament, where the Brotherhood controlled nearly half the seats. More in After the Arab Spring The court ruling has been endorsed by the military, whose leader, Field Marshal Hussein Tantawi, issued a decree dissolving the legislature. The Brotherhood and its Islamist allies dismissed the decree, arguing the military ruler had no right to issue it less than two weeks before the scheduled transfer of power to civilians. Also last week, the military-backed government granted military police...
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