When news hit 30 minutes before the market close that the Egyptian president would have a joint statement with the local military, some saw this was a good sign that there may finally be a compromise forming. Couldn't be further from the truth. As Reuters reports, Egyptian President Mohamed Mursi called on the armed forces on Tuesday to withdraw an ultimatum for him to share power with his political opponents and said he would not be dictated to. "President Mohamed Mursi asserts his grasp on constitutional legitimacy and rejects any attempt to deviate from it, and calls on the armed forces to withdraw their warning and refuses to be dictated to internally or externally," a tweet on the official Twitter feed of the Egyptian presidency said. A military source said the armed forces had seen Mursi's statement and would issue a response to it.
And just to complete the epic farce, Al Arabiya reported that ousted Egyptian President Hosni Mubarak said that the country’s current Islamist president, Mohammed Mursi, should step down for the sake of the Egyptian people. One couldn't make this up, nor could one make up the losses those short Egypt risk protection have suffered in the past month as Egypt CDS have widened by 50%.
In the meantime, US puppet Mursi has precisely 23 hours and 53 minutes.