Mohamed El-Erian, the PIMCO chief executive and quite possibly the best known Egyptian in finance, has been in touch. He’s not impressed by Hosni Mubarak’s refusal to resign.
As he told FT Alphaville late on Thursday:
Things are extremely tense in Cairo after the speech by President Mubarak. It has greatly disappointed millions of Egyptians and made them extremely angry, and understandably so.
Egypt has now entered an extremely dangerous period. There will be massive street protests tomorrow (Friday).
Absent credible regime change, the country risks slipping into violence, exposing hundreds of thousands of citizens to harm and significantly aggravating geo-political risk.
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