- March 11, 2016
- 6 minutes read
Egypt National Alliance Calls ‘Pound Plunges… Prices Soar’ Week of Peaceful Popular Protests
The collapse of the Egyptian pound against the dollar is a new sign of the coup regime’s failure in running the country’s affairs. A failure to be added to its long series of failures that began on July 3, 2013 and has escalated steadily ever since.
The dollar’s rise above the ten-Egyptian-pound barrier for the first time in its history is indeed a major disaster for the citizen who always pays the price from his own pocket. When he goes out to buy anything, he is surprised at the rapidly rising prices, supposedly due to the higher value of the dollar, which we use in importing those goods.
Meanwhile, most citizens’ salaries and income have remained the same. Practically, this means that salaries have lost 30% of their value, which is the rate of the pound’s plunge against the dollar in the last few months.
Incidentally, those who rushed to pay their money to finance the so-called ‘new Suez canal’, for an interest rate of 12%, now realize that they have practically lost 18% of the value of their deposits even after getting that interest.
We do not have to look too far in the search for the culprit responsible for this incredible collapse of the Egyptian pound. It is the current ruling military regime – no one else. This illegitimate regime has caused the collapse of everything.
Tourism revenues are zero. Returns from the Suez Canal have dropped, despite the "new canal" that cost 60 billion Egyptian pounds. Remittances from Egyptians abroad fell despite all the propaganda campaigns and the "dollar bonds".
Debts have accumulated internally and externally. Factories stopped working, and the queue of unemployment is increasing day after day. Salaries and incomes have lost a large part of their value and can no longer cope with the madly rising prices.
The Anti-Coup Pro-Legitimacy National Alliance is following all these failures with deep concern, and regrets Egypt’s and the Egyptians’ deteriorating conditions under the rule of the military coup regime.
The Alliance calls for a new revolutionary week entitled "Pound plunges… Prices Soar".
It is now the duty of every patriotic citizen to move to rescue Egypt from drowning under the feet of the traitorous coup commanders who usurped power at gunpoint. A homeland’s military has its mission, and its natural place: at the borders, protecting the homeland. That is the only way to help Egypt regain its strength, the pound recover its value, unemployment fall again, when the spirit is put back into factories and businesses, and investment flows in a safe environment, under fair laws, with impartial courts.
The return of the military to their barracks will restore security throughout Egypt, including the Sinai, which has gone out of control under junta rule, and which has become a slaughterhouse of Egyptians, civilians and military. The treasonous murderer lied when he claimed he would implement housing and construction projects in Sinai, while he drove away its inhabitants, hounded and killed them.
Preoccupation with the concerns of the poor citizens who bear the brunt of price rises, whose suffering will increase with the new collapses of the Egyptian pound, will not make us forget the patriotic men and women in the junta’s dark dungeons and detention centers.
These heroes stand steadfast with their hunger-strike to demand their freedom and dignity. We say to these steadfast heroes: the hour of victory is at hand, the hour of retribution from criminals is near, rest assured that the patriotic men and women of Egypt and the whole world stand with you.
We followed the European Parliament’s statement in which it condemned the Sisi regime, asking him to stop the unjust sentences and release all prisoners of conscience. We call upon the European Union to halt its support for the criminal regime.
The murderous regime that killed the Italian student Giulio Regeni is the same that killed thousands of Egyptians, who still subjects dozens of citizens to forced disappearance. It is the same regime that lied to the EU regarding Regeni’s death, and is lying to the Egyptian people and the world regarding the public prosecutor’s assassination, accusing the innocent of committing that crime to mislead justice, and to cover up the real culprit who is no doubt one of the regime’s henchmen.
The murderous Sisi is reaching out to criminal Russia to destroy Syria, Libya and Yemen, and is planting a new Zionist as a candidate for the presidency of the Arab League. His nominee will not bring the Arab world but treason and betrayal.
The final scene, however, will witness the demise of Sisi and Bashar, and the end of Houthi crimes and atrocities, and the end of Haftar and the hateful Iranian intervention in the Arab region.
Victory for the Revolution
Anti-Coup Pro-Legitimacy National Alliance
Cairo: Thursday – March 10, 2016