From Soft Coups to Spanish Blues
Egypt – Everything Old Is New Again
Egypt’s bloody transition to democracy seems to have taken a battered step backwards. Why should you care? Because the USA relies on Egypt as an ally in the region – and more instability in the Middle East has many financial and security implications for us right here at home. In a nutshell, the Egyptian Constitutional Court announced that the country’s parliamentary elections last year – the first democratic ones in recent history – would be nullified. As power falls back into the hands of Mubarak’s military cronies, the country is in an uproar once again – just a day ahead of run-off elections…
Spain: Half Empty
Meanwhile, in Spain, the good-ish news: European leaders announce a 100 Billion Euro loan program to help save the country’s totally f’d up banking system. The bad news? The program increased Spain’s debt burden, thereby triggering Moody’s to downgrade Spain’s debt rating – to just one notch above junk status. Like instability in the Middle East, in a global economy, economic issues in Spain have a direct impact back here at home.
The Obamas Take Manhattan
On a lighter note, last night Sarah Jessica Parker and Vogue’s Anna Wintour hosted an $40,000 per person fundraiser for President Obama – at SJP’s NYC townhouse. While we’re not sure of the total impact on traffic in lower Manhattan, we do know that the star studded event raised $4.5 million dollars from 50 donors. But more importantly, what on Earth did all these fashionistas wear?!
How was your week?