Live Egypt Feed As Morsi Rebuffs Military; Army Lays Out "Transition Roadmap"

Tyler Durden's picture

Update: the local army has already laid out the framework of what the upcoming "coup" will look like. via Reuters:

  • ARMY ROADMAP WOULD BE IMPLEMENTED IF PRESIDENT MURSI, OPPOSITION FAIL TO AGREE - SOURCES
  • ARMY ROADMAP WOULD PROVIDE FOR RULE BY INTERIM COUNCIL UNTIL CONSTITUTION CHANGED - SOURCES
  • ARMY ROADMAP ENVISIONS CONSTITUTION CHANGE WITHIN MONTHS, FOLLOWED BY PRESIDENTIAL ELECTION -SOURCES
  • ROADMAP SUBJECT TO AGREEMENT OF OPPOSITION SALVATION FRONT, OTHER FORCES ONCE DEADLINE EXPIRES -SOURCES

"The country is heading toward a clash and a civil war," warned Morsi's political opposition party leader after the President rebuffed demands for stability from the military (or else). As Bloomberg notes, the vaguely worded statement from Morsi's office that they would continue to walk the "path that was outlined" regardless of "any statements that could deepen the divisions between the sons of the nation, and could threaten social peace," is as clear a snub to the coup-threat as it comes without directly addressing them and has merely served to bolster the anti-Morsi protesting crowds in Cairo's Tahrir Square. Growing fears of tensions spilling over - and a closure of the Suez Canal - have pushed WTI crude prices back above $99. With 33 hours to the Military's deadline and crowds swelling even further, the celebrations yesterday are beginning to turn to anger once again.

The Morsi Timer counts down...

And tensions remain high...

 

WTI is surging...

 

As the Suez Canal chokepoint fears rise once again...

Charts: JPMorgan and Bloomberg