US should withhold aid to Egypt, according to senator
The Obama administration should threaten to withhold financial aid from Egypt unless President Mohamed Morsi responds to opposition demands to rescind last week's controversial decree, US Republican Senator John McCain told the Wall Street Journal on Monday.
"This is not acceptable; this is not what US taxpayers expect from Egypt, and our dollars should be directly related to the progress of democracy, which President Morsi promised at the start of his term," McCain asserted.
The US has leverage not only in providing aid but also in marshalling public opinion, and this is how it can pressure Morsi to withdraw his decree, said McCain.
The US provides more than $1.9 billion in financial aid to Egypt each year, mostly allocated to the Egyptian military.
The European Union has also threatened to decrease aid to Egypt if Morsi insisted on implementing his decree.
The president's decree has met with opposition both domestically and internationally.
Over a hundred thousand protesters converged on Cairo's Tahrir Square on Tuesday to protest the move. Morsi's supporters, meanwhile, are planning a mass rally in support of the president on Saturday.
- From the best of both worlds, to the worst of both worlds: Canadian citizenship no longer a 'piece of cake' for GCC expats
- Jumping on the IMF's bandwagon: Kuwait quietly embarks on subsidy-slashing journey
- Even the numbers are on the feminist side: companies with females in top management yield higher returns
- Kingdom in debt, Kingdom in danger: Saudi Arabia's pending deficit raises frightening possibilities
- 'Dead aid': is there any hope left for South Sudan's economy?
- Ending US aid to Egypt could result in "chaos" - soon to be Secretary of State John Kerry warns
- Egypt's stock market upbeat despite Morsi Trial
- One BRIC at a time: Morsi thinks Egypt might one day join group of fast-growing economies
- Morsi to meet IMF Monday, reports suggest
- Obama cuts debt deal with Egypt: aid for trade