Friday, July 17, 2009

EGYPT: Father Still Knows Best


By Adam Morrow and Khaled Moussa Al-Omrani

"CAIRO, Jul 17 (IPS) - Speculation had been rife in recent months that parliament was on the verge of dissolution by order of the presidency. While the rumour ultimately proved unfounded, local analysts say it reflected a rift between the old and new guards of the ruling National Democratic Party (NDP) of President Hosni Mubarak......

The old guard, personified by Mubarak, represents the ideals of Egypt's 1952 revolution - in theory at least - which include a socialist-oriented economy and a foreign policy free of colonial influence. The new guard, embodied by Mubarak's 46-year-old son Gamal, favours a thoroughly globalised economy based on neo-liberal policies such as privatisation of state assets and strong foreign investment.

Gamal, who many believe is being groomed to replace his ageing father as president, is already both NDP assistant secretary-general and head of the party's supremely influential Policies Secretariat.

Another major point of difference lies in the fact that the old guard prefers a president with a background in the armed forces; the new guard, for its part, prefers one with a background in business. The younger Mubarak is an investment banker by profession......"

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