Even for those who (like me) tend to focus on what’s going on in Europe, you may want to check out the news a little further south this week. Egypt’s (is it a coup or isn’t it?) is escalating, and over 500 are reported dead in the most recent round of violence…with the number still growing. The Muslim Brotherhood has called on its supporters to continue their protests, and the Egyptian military has stated that these protests will not be tolerated.
Why does any of this matter for those of us outside of Egypt? Because Egypt is a major regional player, and it impacts the direction of politics and stability across the region. Beyond this, it also controls the Suez Canal, a major shipping route where over 4 million barrels of oil pass each day, and any threat of closure is likely to have a large impact on global economics.