An economist says Egyptian President Hosni Mubarak's decision to hand over authority to his vice president but not step down is likely to fuel the fears of international investors already panicked by protests against his regime.
John Sfakianakis, chief economist at the Riyadh, Saudi Arabia-based Banque Saudi Fransi, said late Thursday that international investors were looking for Mubarak's speech to provide a clear end to the crisis gripping Egypt.
Sfakianakis said Mubarak's decision not to step down as president, as demanded by the protesters, "was the worst message the international investor community could have expected to receive."
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