Knowledge Foundation

A tougher control over the tax and spend policies of single currencies of Germany partner and make and break of euro stated Angela Merkel. Asking for the halt of single currency drift which is going towards collapse the German vice chancellor has taken up a decisive action. The decisive action to bring calmness in the financial market and has asked to stop talking over the fiscal union and creating a one. The negotiations have been secure and has a greater centralized control over the budgets of the 17 members from the euro zone.

The euro zone financial matters cannot be rushed and involves a risky renegotiation over the Lisbon treaty and is still under construction. The borrowing rates have fallen sharply over the interest rates on Italian and Spanish governments as the markets saw a raise. Many of the politicians have taken up the collapse of euro more seriously and have woken up to the damage and would breakup the inflict. Many of the economic experts feel that the euro countries have been waiting for retaining the control over the budgets and have been taken efforts.

There has been talks over the fiscal union between British Prime minster David Cameron and French President Nicolas Sarkozy in Paris. Everyone has become more concerned about the impact of the chaotic breakup of the euro as it is already fragile in terms of the UK economy. A more detailed blueprint will be seek-ed by France and Germany during the summit which will be held during Monday and have more concerns from Washington. The concern of Washington has bought in the risks from the global economy caused by the crisis of the monetary union as some analyst are discussing.

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The Muslim Brotherhood of Egypt who has its political hand up has been showing a stunning performance in the first round of polling. The first round during the polling the Muslim brotherhood showed a at the lower House of parliament and has showed its readiness to work. The Muslim Brotherhood has been showing the way to work together along with its liberal rivals and have been showing their street power. The Muslim brother hood has been showing the street power at the Tahir square which is known for it a iconic history and working for Egypt.

During Thursday the Freedom and Justice(FJP) has issued a statement over the denial after the struck over an alliance with its coalition with Al-Nour. The ultra Conservative Al-Nour has been compromising of activists of a Salafi having some of the ideological persuasion says the report. The ideologies of Salafists include to wish for remaking of the society based on the principles present in the Pristine Islam. Even though the final results of the first round has been reported on Thursday and yet to be declared and as estimated figures crop out of.

The official media has leaked some of the estimates stating that the FJP has won about 40% of the votes till now and there will be Al-Nour coalition. The Al-Nour has won about 25% of the vote and has been a little ahead of the Egyptian bloc which compromises of liberal parties. If Egyptian bloc joins along with Al Nour the Islamists there will be a demand of 65% and a case of super majority and may cause discomfort. The discomfort caused for the non-religious camp if the Islamic Bloc along with Al- Nour joins together to form for a unity government.

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On Monday Egyptians will vote for their parliamentary polls which is after a revolt bought down the former president. The previous revolt in Egypt had bought down the president Hosni Mubarak and led to the handover of power to interim the military council. The elections will be conducted in three phases which will be ended with the formation of the new People’s Assembly by the year 2012. The polling will be taking place in highly populated districts of Cairo and second largest city Alexandria.

The two cities had showed their protests bringing the end of the rule of the supreme council of the armed forces(SCAF). The protesters had demanded that instead of the SCAF there needs to be a nation unity government which are led by the civilians. The government which has been lead by the civilians will be leading the transition to democracy after the autocratic rule. The readiness to head the national unity government was showed by the former chief of the International Atomic Energy Agency(IAEA).

The former chief Mohamed El Baradei issued a statement through his camp and was not yet ready to run the presidency. Following his assertion El Baradei announcement over the Egyptian youth have showed the cosmetic changes. With respect to the on going protest the military has even agreed to step down in accordance with civilians wishes. By the middle of the next year the new elected president will be announced and the democratic transition will happen.

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