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US should save Egypt from a looming solvency crisis, think tank

A report by the Council on Foreign Relations suggested that Egypt is close to experiencing an economic deadlock and that the US must intervene to rescue Egypt from impending insolvency.

According to the report's author, Steven Cook, Gulf assistance is not enough to stave off an inevitable economic crisis. "The continuation of violence, political protests, and general political uncertainty-even after planned presidential and parliamentary elections-along with a hodgepodge of incoherent economic policies, all portend continuing economic decline," he pointed out.

Cook recommended that the US administration should support the Egyptian military and provide immediate financial aid as mitigating measures. He also suggested that the US should "use its diplomatic clout in other parts of the world to secure additional assistance for Egypt."

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