EU official: Yeah, Egypt really needs some more financial aid

posted at 8:36 pm on September 12, 2012 by Erika Johnsen

Wait a tick — I thought Europe was supposed to be broke? Where are they getting the cash for all of these bailouts and foreign aid? Via Reuters:

Egypt is likely to need more than $10 billion in external financing to help revive its economy, battered after a revolt that toppled the country’s authoritarian government last year, a senior EU official said on Wednesday.

The European Union and other institutions and countries are considering financial support for Egypt in addition to a $4.8 billion loan that Cairo has requested from the International Monetary Fund (IMF), the official said, speaking on condition of anonymity. …

Egypt’s future is important for the 27-member bloc, which sees the development of Arab Spring countries as an economic opportunity, but also fears the possibility of anti-European governments on the other side of the Mediterranean.

Last year, the EU introduced a “more for more” policy under which it links economic aid to progress in civil rights and democracy.

Er… I mean, I’m all for making investments where you see an opportunity for commercial development and can anticipate a mutually-beneficial return, but… Egypt’s president is headed to Brussels to talk about this tomorrow — just two days after a mass display of anti-Western hysteria. The stability of the region, their propensities for economic growth, their reliability as a friend and commercial partner, whether or not they really deserve to be given such financial boosts… These are all tricky questions (Egypt, for its part, seems to feel more receptive to Europe’s assistance than ours). That “more for more” policy seems more than a little odd to me — I do think encouraging economic growth and free trade is a great path for peace, but just throwing money at the problem isn’t necessarily going to solve it. The United States has been doling out foreign aid to a bunch of countries for years on end, but strangely, not all of them seem to feel all that ingratiated towards us. We’re currently giving Egypt more than $1 billion in aid, but maybe we need to reexamine that — as some House conservatives proposed today.

A group of House conservatives is calling for foreign aid to Libya and Egypt to be stripped from a six-month federal funding bill set for a vote on Thursday. …

“It would show a tremendous amount of leadership from this administration, in light of the recent developments, if the president were to come back and demand that the amount of money that is in the [continuing resolution] for Libya and Egypt be stripped. That would be tremendous leadership,” Landry said.

Say, wouldn’t it have been nice to hear the media question our presidential candidates a little more about this and a little less about whether or not Mitt Romney is running the most gaffe-tastic campaign, evah?


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Not ONE. Thin. Dime.

leftnomore on September 12, 2012 at 8:38 PM

facepalm

rob verdi on September 12, 2012 at 8:38 PM

Fluke the Europeans, Obama, the Egyptians and all the muzzie brothers, especially the salafis.

Schadenfreude on September 12, 2012 at 8:38 PM

Cut the dough to Egyps and Libya, pronto.

Schadenfreude on September 12, 2012 at 8:38 PM

Go for it, Eurotrash.
We’re getting ready to vote the socialist in chief and Vegas globetrotter out of office.
I hope those savages starve to death. All of them.

RovesChins on September 12, 2012 at 8:39 PM

The Europan SC voted today to grant a bailout to anyone, in spite of 54% of the population, likely the producers/taxbase, disapproving. May they all burn in Hades, soon, incl. all the other creepy Europeans who’re nothing but idealistic hacks.

Schadenfreude on September 12, 2012 at 8:40 PM

Throw money at it! The business plan of every business in the land fill.

Limerick on September 12, 2012 at 8:41 PM

Please forward all inquires about my opinion on this matter to:

Resist We Much
Galt’s Gulch
Somewhere in Colorado, USA

Axe on September 12, 2012 at 8:41 PM

Egypt is likely to need more than $10 billion in external financing to help revive its economy, battered after a revolt that toppled the country’s authoritarian government last year, a senior EU official said on Wednesday.

The revolt against reformers in the Egyptian government that wanted to cut food subsidies in order to improve the economy?

Count to 10 on September 12, 2012 at 8:41 PM

Cut the dough to Egyps and Libya, pronto.

Schadenfreude on September 12, 2012 at 8:38 PM

It’s not even dough. It’s a credit card.

Axe on September 12, 2012 at 8:41 PM

…will make sense to JugEars!

KOOLAID2 on September 12, 2012 at 8:42 PM

Fluck them..
And Sandra…

Electrongod on September 12, 2012 at 8:42 PM

…Harry Reids working on it!

KOOLAID2 on September 12, 2012 at 8:43 PM

EU: Here’s some $$$, please don’t be angry with us. :-(

Punchenko on September 12, 2012 at 8:43 PM

EU official: Yeah, Egypt really needs some more financial aid

Why yes, they do/ The Europeans must keep Luxor safe and secure for all of those European cougar hunters who flock there in droves to pay for sex with some young gigolo.

JPeterman on September 12, 2012 at 8:43 PM

With the MSM in Zero’s side pocket stroking his junk, and kicking Romney in the balls at every turn, its going to be hard for Mitt to win. Most people are simply stupid low information voters…

PatriotRider on September 12, 2012 at 8:43 PM

Maybe Chicago teachers could send them something……

SailorMark on September 12, 2012 at 8:44 PM

We’re airdropping 10 billion dollars to you. Look for a big parachute and underneath it a device that says “MOAB” on it, we’re dropping it in downtown Cairo so be sure to gather around.

Bishop on September 12, 2012 at 8:44 PM

Severe relations, recall personnel, expel their personnel, close embassies, suspend trade, no foreign aid , reinstate the 2/3 of the force that was cut from the upcoming war games with Israel, agree to meet with Netanyahu at the end of the month.

You know… like we mean it.

thatsafactjack on September 12, 2012 at 8:45 PM

Bishop on September 12, 2012 at 8:44 PM

Okay, you owe me another keyboard, slick!

SailorMark on September 12, 2012 at 8:47 PM

Obama: You know, one of the things we can’t do in this country is operate from a place of fear. How are we going to reestablish our footing in the world and change conversations globally so that we … move to a different place in how we deal with issues of terrorism?

That we’re … instead of protecting ourselves against terrorists, that we’re building diplomatic relationships and we’re investing in education abroad so that we’re making sure that kids are learning how to read as opposed to … fight us.

Michelle Obama in the 2009 Katie Couric interview. The left in a nutshell and the nuthouse.

Limerick on September 12, 2012 at 8:48 PM

So does Cuba, Venezuela, . . . . .

listens2glenn on September 12, 2012 at 8:48 PM

The only thing I’m in favor of giving Egypt is the wrong end of an exploding nuke.

wildcat72 on September 12, 2012 at 8:49 PM

You know… like we mean it.

thatsafactjack on September 12, 2012 at 8:45 PM

Ah.

Please forward all questions about my opinion on foreign policy to:

Factual Jack
Valley of Dreams
Hollywood, CA, USA

Axe on September 12, 2012 at 8:49 PM

EU: Here’s some $$$, please don’t be angry with us, too :-(

Punchenko on September 12, 2012 at 8:43 PM

FIFY

socalcon on September 12, 2012 at 8:49 PM

In Europe’s defense, they need stable governments or they’ll get a steady flow of new muslim immigrants.

ninjapirate on September 12, 2012 at 8:50 PM

Axe on September 12, 2012 at 8:49 PM

Good evening, Axe.

Did I mention that I’m also thinking it might be beneficial to freeze their assets here, and make sure that not one drop of oil gets out of their respective little sand piles?

thatsafactjack on September 12, 2012 at 8:51 PM

We’re airdropping 10 billion dollars to you. Look for a big parachute and underneath it a device that says “MOAB” on it, we’re dropping it in downtown Cairo so be sure to gather around.

Bishop on September 12, 2012 at 8:44 PM

You are a treasure, Bishop.
But, what does MOAB stand for?

Mother of a beeotch goat?
My Ox Accused me of Bigamy?
Oh..mother of all bombs.
Can we kick in Sandra Fluke for them?

RovesChins on September 12, 2012 at 8:51 PM

A group of House conservatives is calling for foreign aid to Libya and Egypt to be stripped from a six-month federal funding bill set for a vote on Thursday.

Do THIS!

Happy Nomad on September 12, 2012 at 8:53 PM

f them.

the evil fruits of barry’s glorious arab spring.

mittens on September 12, 2012 at 8:55 PM

Did Branson get that space-port thing going yet?

Just wondering.

Lime in the Coconut on September 12, 2012 at 8:56 PM

With the MSM in Zero’s side pocket stroking his junk, and kicking Romney in the balls at every turn, its going to be hard for Mitt to win. Most people are simply stupid low information voters…

PatriotRider on September 12, 2012 at 8:43 PM

Mostly agree. Those same voters are slothful and of lower intelligence. The MSM rainbows and unicorn act will more than likely lull them into a booze induced coma on Nov 6th.

GOTV

socalcon on September 12, 2012 at 8:57 PM

I heard Jim DeMint on Cavuto today, he also questions giving them money. We are broke, let Egypt’s Muslim Brotherhood support itself, I’m sure they have tons of cash stashed away. LIbya has oil and it sells it, nothing for any country but the USA. We need to pay down some of our debt.

carolt2 on September 12, 2012 at 8:57 PM

Oops, left me two cents in my other pants. No aid for you Egypt, have a couple of embassies to repair and upgrade because they are now in enemy territory.

rbj on September 12, 2012 at 8:57 PM

OT – Whatever happened to Paul Ryan? Is he still around? I thought he was running for office but he’s been invisible for three weeks or so.

Django on September 12, 2012 at 8:58 PM

If the Europeans feel they can afford to do it, let them.

Iran, for example, is one of Germany’s largest trading partners. This has been so for a very long time.

It’s a question of proximity, or as real estate agents say, ‘location, location, location’.

Our interests do not always coincide with European countries despite our cultural ancestry. It’s a mistake to romanticize cultural similarities and confuse them with economic and political realities. I believe this is something Americans must learn to accept. Otherwise, we continue to be used as we have been for decades. The Europeans are good at it. They like receiving our largesse while at the same time they treat us with contempt.

I’m not a proponent of isolationism, but what I would like to see is an administration that is willing to play hardball with Europe and the ME. There’s nothing wrong with cutting foreign aid, withdrawing bases from Germany or whatever it takes. They will scream and fret. We can take our time, tend to our own business while we reset our relationships with various countries. IMHO this is something we should have done once Europe regained its footing after WWII. Unfortunately, Americans seem to feel that they have to be Europe’s caretaker. We don’t, and we shouldn’t.

Also, if the Europeans want to toss their money into the ME sand pit, let them. We have plenty of resources here to develop. Once we do that and get our economy growing we can dictate our own terms. They need us far more than we need them.

Cody1991 on September 12, 2012 at 8:59 PM

When Egypt guarantees freedom of religion for all Egyptians, we’ll think about aid.

slickwillie2001 on September 12, 2012 at 8:59 PM

Ahem………………..its right in YOUR OWN BACKYARD:)

And,they are getting $1.2 Billion from the,(are you sitting down),
IOWA DISASTER BONDS!!

BUSINESS
Updated September 5, 2012, 8:16 p.m. ET

Egyptian Bets $1.4 Billion on Natural Gas—In Iowa

http://online.wsj.com/article/SB10000872396390443589304577633932086598096.html
================

Iowa Lands $1.4 Billion Plant in Line for Midwestern Disaster Bonds
Thursday, September 6, 2012
*****************************
http://www.bondbuyer.com/issues/121_173/iowa-lands-billion-dollar-plant-in-line-for-midwestern-disaster-bonds-1043662-1.html
====================

Midwestern Disaster Area Bonds
http://www.iowafinanceauthority.gov/en/economic_development/midwestern_disaster_area_bonds/

canopfor on September 12, 2012 at 9:00 PM

says the broke EU to the broke US of A :)…sheeesh, I sometimes seriously worry that insanity might be contagious after all…

jimver on September 12, 2012 at 9:00 PM

Can we kick in Sandra Fluke for them?

RovesChins on September 12, 2012 at 8:51 PM

Fluke will surely enjoy when the Egyptians roll out the ‘Lara Logan’ partygame.

socalcon on September 12, 2012 at 9:01 PM

Can we kick in Sandra Fluke for them?

RovesChins on September 12, 2012 at 8:51 PM

Fluke will surely enjoy when the Egyptians roll out the ‘Lara Logan’ partygame.

socalcon on September 12, 2012 at 9:01 PM

They won’t use her taxpayer funded rubbers.

wildcat72 on September 12, 2012 at 9:02 PM

OT – Whatever happened to Paul Ryan? Is he still around? I thought he was running for office but he’s been invisible for three weeks or so.

Django on September 12, 2012 at 8:58 PM

Working on improving his marathon time.

socalcon on September 12, 2012 at 9:03 PM

AHEM…..Part DEUX!
_____________________

U.S. Hones Plans for Big Bailout of Egypt
Updated September 4, 2012, 7:40 a.m. ET
***************************************

http://online.wsj.com/article/SB10000872396390443571904577629991601055580.html

canopfor on September 12, 2012 at 9:03 PM

They can get all the blackmail money in the world and they wont stop comjng at us but their leaders will get rich.

ldbgcoleman on September 12, 2012 at 9:04 PM

fluker pleeeaaaze

Slade73 on September 12, 2012 at 9:04 PM

Egypt= 57th state?

socalcon on September 12, 2012 at 9:04 PM

They don’t have money for their own population, the u employment sky rocketed in fhe EU space, and they think about extending more aid to egypt…do you hear me, germany, pony up, the muslim brotherhood wants more money to make progress with the freedoms and democracy there…oh, wait….

jimver on September 12, 2012 at 9:04 PM

Shout outs in Vegas baby!
Fore more years.
FLUCKING pig.

RovesChins on September 12, 2012 at 9:06 PM

Egypt should be on our excrement list. No supportee, no munee.

parteagirl on September 12, 2012 at 9:06 PM

There were no Marines to protect them.
I built that.

RovesChins on September 12, 2012 at 9:07 PM

How else will the Obama campaign get more cash?

txhsmom on September 12, 2012 at 9:08 PM

“Millions for defense, not a penny for tribute!”

I say to let the Euros bail them out if they want, and also make sure we don’t bail out the Euros for it later.

Liam on September 12, 2012 at 9:09 PM

the libyans carried Stevens to the hospital, by the way

just so you know, and no time for questions…Vegas baby

Slade73 on September 12, 2012 at 9:09 PM

I think they’re taking lessons in international blackmail from the North Koreans. Or did the NorKos learn from the Barbary Pirates? OK, never mind, it’s just the Muslims returning to their roots.

sleepyhead on September 12, 2012 at 9:10 PM

America needs to end ALL aid to ALL muslem countries, period.

Let them wallow in their own filth and ignorance, we shouldn’t be subsidizing people who’s first and last wish is to murder us.

Rebar on September 12, 2012 at 9:10 PM

“It would show a tremendous amount of leadership from this administration, in light of the recent developments, if the president were to come back and demand that the amount of money that is in the [continuing resolution] for Libya and Egypt be stripped. That would be tremendous leadership,” Landry said.

Yeah, but first you need a “leader”. You know, the guy out front. Not the guy in the rear covering his ass.

GarandFan on September 12, 2012 at 9:11 PM

In times of trial, I retreat from questions in Hillary’s loving embrace…then Vegas baby

Slade73 on September 12, 2012 at 9:12 PM

Let’s send them MSNBC, CNN, ABC, CBS, NBC, NYT, WaPo, HuffPo, DWS, Bloomy and the Mooch (did I leave anything out?). That’ll be worse than sending nothing and Egypt will be crying uncle within mere moments.

stukinIL4now on September 12, 2012 at 9:12 PM

Muzzie: Corpses for aid?

US & EU: Sure.

Demosthenes on September 12, 2012 at 9:14 PM

NOWs the time to trot out “I’m sorry.”

As in, “I’m sorry, but no more money for you.”

24hrs and no retaliation, we are so f*&^ing pathetic.

orbitalair on September 12, 2012 at 9:14 PM

Foxnews is showing the protest.

BallisticBob on September 12, 2012 at 9:15 PM

Er… I mean, I’m all for making investments where you see an opportunity for commercial development and can anticipate a mutually-beneficial return, but… Egypt’s president is headed to Brussels to talk about this tomorrow — just two days after a mass display of anti-Western hysteria. The stability of the region, their propensities for economic growth, their reliability as a friend and commercial partner, whether or not they really deserve to be given such financial boosts…

What in God’s green earth has given you the notion that our government is good at seeing these sorts of “opportunities”? Jeez. When “conservatives” start referring to government spending, on foreign aid no less, as “investments”, you just give credence to every progressive argument that euphemestically refers to all kinds of stupid and unconstitutional government spending as “investments.” Hogwash.

iwasbornwithit on September 12, 2012 at 9:17 PM

Cut the dough to Egyps and Libya, pronto.

Schadenfreude on September 12, 2012 at 8:38 PM

Go for it, Eurotrash.
We’re getting ready to vote the socialist in chief and Vegas globetrotter out of office.
I hope those savages starve to death. All of them.

RovesChins on September 12, 2012 at 8:39 PM

Preach it my brothers.

SparkPlug on September 12, 2012 at 9:18 PM

As is my policy, I’m always the only adult in the room. Mitt Romney is being political. Petulant obstruction-stremist.

Vegas time

Slade73 on September 12, 2012 at 9:18 PM

Wait a tick — I thought Europe was supposed to be broke? Where are they getting the cash for all of these bailouts and foreign aid? Via Reuters:

No, via the US taxpayer….

ScottG on September 12, 2012 at 9:22 PM

Ahem……..Part 3!
______________________

March 22 2012
**************

The Obama administration
*************************

has decided to resume funding for Egypt’s military and will bypass congressional requirements
***************************

that U.S. officials certify the country’s progress toward democracy, according to Capitol Hill aides.

The decision, which senior administration officials said will be announced by Secretary of State Hillary Rodham Clinton on Friday, drew heavy criticism from some in Congress, who accused the administration of squandering precious leverage over Egypt’s leaders as their country continues a wobbly transition to democracy.(More….)

http://www.washingtonpost.com/world/national-security/us-to-resume-aid-to-egypt/2012/03/22/gIQA3B3UUS_story.html
=============================================

**with heavy criticism from some in Congress**

Press Releases

Reaction Of Senator Patrick Leahy, Author Of The New Democracy And Human Rights Conditions On U.S. Military Aid For Egypt, To Secretary Clinton’s Decision To Waive The Conditions On National Security Grounds

March 22, 2012

“I am disappointed by this decision. I know Secretary Clinton wants the democratic transition in Egypt to succeed, but by waiving the conditions we send a contradictory message. The Egyptian military should be defending fundamental freedoms and the rule of law, not harassing and arresting those who are working for democracy. They should end trials of civilians in military courts and fully repeal the Emergency Law, and our policy should not equivocate on these key reforms. Now that Secretary Clinton has decided to use the law’s waiver authority, she should use the flexibility the law provides and release no more taxpayer funds than is demonstrably necessary, withholding the rest in the Treasury pending further progress in the transition to democracy.”

http://www.leahy.senate.gov/press/reaction-of-senator-patrick-leahy-author-of-the-new-democracy-and-human-rights-conditions-on-us-military-aid-for-egypt-to-secretary-clintons-decision-to-waive-the-conditions-on-national-security-grounds

canopfor on September 12, 2012 at 9:24 PM

The EU foolishly thinks that a more economically viable and even prosperous Egypt will make it a more infidel friendly Egypt. They can’t see that true Islam, i.e., the Islam of militant jihadist, is taking hold there and in the rest of the retarded mid-East. It can’t change from the outside influences of wealth. These countries need to collapse to such a awful extent that even their true Islam starts to look as stupid as it is and they begin to realize that it’s Islam that’s been holding them back and killing them.

Chessplayer on September 12, 2012 at 9:24 PM

Egypt is broke. They are down to a couple of billion in reserves, the tourist industry is kaput, and the government has already begun food and fuel rationing in some parts of the country. It made sense to send money to Egypt while we were propping up Mubarak; at least he was a putative ally. Now, despite Obama’s best efforts, Egypt is the enemy. They are tilting towards Iran. The Muslim Brotherhood is poised to turn Egypt into “North Korea on the Nile”, as Spengler at Asia Times Online so strikingly puts it. Let them. Let them reap the fruits of their Democratic Spring. If Islam is superior, prove it, without a subsidy from the West.

Mr. Arkadin on September 12, 2012 at 9:24 PM

Foxnews is showing the protest.

BallisticBob on September 12, 2012 at 9:15 PM

BallisticBob:I Sent that info to AP,when it popped up:)

canopfor on September 12, 2012 at 9:26 PM

Obama to Telemundo:

Egypt not considered an ally, but ‘we don’t consider them an enemy.

They are a new government that is trying to find its way’

– @NBCNews

7 mins ago by editor

canopfor on September 12, 2012 at 9:26 PM

Giving billions of dollars to countries who elect monsters just because they elected those monsters via free, democratic elections is pure idiocy. There must be consequences for the choices countries make when they decide to elect our worst enemies. Why is this so difficult for Washington to understand?

Django on September 12, 2012 at 9:36 PM

iL Duce Barack Hussein Obama is about to gift Egypt yet another billion dollars and Egypt is trying to buy multiple military attack submarines from Germany with that money.

I sh-t you not — let’s just have WWIII right friggin’ now and get it the fark over with. It is inevitable.

FlatFoot on September 12, 2012 at 9:43 PM

Foxnews is showing the protest.

BallisticBob on September 12, 2012 at 9:15 PM

Did you see MM? She was on fire tonight.

slickwillie2001 on September 12, 2012 at 9:46 PM

Obama to Telemundo:

Egypt not considered an ally, but ‘we don’t consider them an enemy.

They are a new government that is trying to find its way’

– @NBCNews

7 mins ago by editor

canopfor on September 12, 2012 at 9:26 PM

….sounds like a composite government to me….

jimver on September 12, 2012 at 9:54 PM

The EU will send loans to Egypt, with money Obama loans them.

He, in turn, will get that money in another round of loans from China.

Therefore (he and the EU geniuses figure)Egypt will one day pay China back, and everything will be groovy.

Of course, Egypt will then go to IMF, ask for “debt forgiveness”, and get it. Leaving guess who holding the bag?

Then again, with the MB in charge, they may simply state that the Qu’ran forbids doing business with infidels, and refuse to pay on that basis. Again, leaving guess who holding the bag?

The EU crowd is for this, on the grounds that they are bribing the Islamists to stay home and leave them alone- with our money. No matter what happens, it won’t really be on their nickel.

Instead of sending any money to the EU, I suggest giving it to the Pentagon. With the limitation that it cannot be used to buy Chevy Volts.

We’re going to need other things a lot more. Notably JDAMS.

clear ether

eon

eon on September 12, 2012 at 10:02 PM

It would be nice if, for once, the Euros could see that this is their one and only chance to prevent another Iran.

Cut them off, make Obama cut them off. We can’t pay for them to attack us any more.

PattyJ on September 12, 2012 at 10:22 PM

Off at the knees!

Bmore on September 12, 2012 at 10:40 PM

America needs to end ALL aid to ALL muslem countries, period.

Let them wallow in their own filth and ignorance, we shouldn’t be subsidizing people who’s first and last wish is to murder us.

Rebar on September 12, 2012 at 9:10 PM

I would put Farahkahn and the Black Panther Party right up there as well.

Bulletchaser on September 12, 2012 at 11:48 PM

The EU can underwrite the entire amount. And let Obama sign the check. We will gladly lend Obama to be head of the EU. Please.

pat on September 13, 2012 at 12:57 AM

EURABIA

As funny as it sounds, it’s an actual “thing”; about 40 years old. I wish it was only a punchline, but it fits the economic subversion of Soviet Europe since it’s inception; and per, in their very own words, leaders of the reformation.

John Kettlewell on September 13, 2012 at 1:34 AM

the kenyan will send them a couple of billion dollars along with some covert money through other means. they’ll be our “allies” because of that.

It might be a good thing if the first “lady” and 500 of her closest friends went to egypt this fall. They could boost the economy and spend 500 million or so in the process.

acyl72 on September 13, 2012 at 7:35 AM

Let’em eat sand!

hutch1200 on September 13, 2012 at 8:02 AM