A Suddenly Sweating Saudi Says Would Step In As Financial Backer To Egypt If West Pulls Out
Last Friday, King Abdullah fired the first shot in Saudi Arabia's brotherly embrace of the Egyptian military regime when he voiced his support for the (non?) coup. Moments ago he decided to put his nation's crude oil money where his mouth is following an announcement by the Saudi foreign minister Prince Saud al-Faisal that Saudi Arabia would step in to fill the financial gap from any Western sanctions on Egypt, if any of course, since the US still has to admit the country now torn by civil war ever had a coup nearly two months ago, and where as one deposed president is about to spend a lot more time in jail, another is on his way out.
Saudi Foreign Minister Prince Saud al-Faisal on Monday pledged to fill any financial gaps left by Western countries withdrawing aid from Egypt over its crackdown on Muslim Brotherhood protesters that has left hundreds dead since last week.
"To those who had declared they are stopping aid to Egypt or are waving such a threat, the Arab and Muslim nations are wealthy with their people and resources and will not shy away from offering a helping hand to Egypt," he told state news agency SPA.
Translation: Saudi Arabia is very nervous that the Egyptian Countercoup Summer may spread, as it did with the Arab Spring of 2011, to Saudi Arabia when it took personal bribes from the government to keep people happy, but not triggerhappy. Recall from February 2011:
King Abdullah of Saudi Arabia announced financial support measures, worth an estimated SR135bn ($36bn), in a bid to avert the kind of popular unrest that has toppled leaders across the region and is now closing in on Libya’s Muammer Gaddafi. The measures include a 15 per cent salary rise for public employees to offset inflation, reprieves for imprisoned debtors, and financial aid for students and the unemployed.
Hopefully the Saudi King's "bribe the people" (either Saudi or Egyptian people that is) emergency rainy day fund is full, as it will very soon be tapped again.
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