The surprising appointment of Dr. Hisham Kandil as Egypt’s new Prime Minister is unlikely to calm nerves in the financial markets. For a start, he lacks the economic credentials that some were hoping for. At the same time, his appointment may hint at increased tensions between the different pro-revolutionary forces. Add to this the fact that the powers of the PM (and indeed the President) are as yet undefined, and Egypt’s transition to democracy is still a bumpy ride.
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