Pro-Muslim Brotherhood Obama Administration To Boost Egyptian Economy By Forgiving Egypt’s $1 Billion Debt

“Insanity: doing the same thing over and over again and expecting different results.” (Albert Einstein, 1879-1955)

America’s tax-payer/China-borrowed dollars once again hard at work trying to buy peace in a region that longs for Islamic conquest and the death of all infidels …

By STEVEN LEE MYERS, The New York Times – “WASHINGTON — Nearly 16 months after first pledging to help Egypt’s failing economy, the Obama administration is nearing an agreement with the country’s new government to relieve $1 billion of its debt as part of an American and international assistance package intended to bolster its transition to democracy, administration officials said.

The administration’s efforts, delayed by Egypt’s political turmoil and by wariness in Washington about new leaders emerging from its first free elections, gained new urgency in recent weeks, even as the United States risks losing influence and investment opportunities to countries like China, which President Mohamed Morsi chose for his first official visit outside of the Middle East.

In addition to the debt assistance, the administration has thrown its support behind a $4.8 billion loan being negotiated between Egypt and the International Monetary Fund. Last week, it dispatched the first of two delegations to work out details of the proposed debt assistance, as well as $375 million in financing and loan guarantees for American financiers who invest in Egypt and a $60 million investment fund for Egyptian businesses.

The assistance underscores the importance of shoring up Egypt at a time of turmoil and change across the Middle East, from the relatively peaceful uprisings in Egypt and Tunisia to the still-unfinished transition in Libya, and from the showdown over Iran’s nuclear program to the war in Syria. Given Egypt’s influence in the Arab world, the officials said, its economic recovery and political stability could have a profound influence on other nations in transition and ease wariness in Israel about the tumultuous political changes under way.” Read more.

Flashback: ‘Egypt Will Never Be the Friend, Partner or Ally of the Zionist Entity, The First Enemy of Egypt’ – “It’s amazing what ‘freedom’ has brought to Egypt. Rejecting $1 billion in US aid would almost be laughable, if the possible implications were not so serious. Last month the Muslim Brotherhood had apparently come to the conclusion that it was Halal to extort the United States by threatening, for all intents and purposes, to wage war against Israel if America cut off aid to Egypt. Now they’re threatening to reject it all together, and all this while making it loud and clear that Egypt will ‘never be the friend, partner or ally of the Zionist entity’ …” Read more.