https://pjmedia.com/spengler/2012/12/06/egypts-economic-breakdown-deepens-the-crisis/feed/PJ Media is a leading news site covering culture, politics, faith, homeland security, and more. Our reporters and columnists provide original, in-depth analysis from a variety of perspectives.en-usFri, 24 Apr 2026 00:49:32 -0400<![CDATA[Prospective economic ruin has energized Egypt&#8217;s political crisis since the fall of Hosni Mubarak in January 2011. Mohammed Morsi&#8217;s Islamists and the opposition are not battling in the streets of Egyptian cities about economics,  to be sure, but about how to govern a country that cannot meet the basic needs of most of its citizens. Egypt&#8217;s pound dropped suddenly on the foreign exchange market Thursday as the country&#8217;s central bank announced a drop in foreign exchange reserves during November. If the pound collapses&#8211;and it is hard to see how this can be avoided&#8211;the cost of necessities will soar and the crisis will deepen.]]>Thu, 06 Dec 2012 20:40:11 -0500<![CDATA[David P. Goldman]]>https://pjmedia.com/david-p-goldman/2012/12/06/egypts-economic-breakdown-deepens-the-crisis-n131115