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ForexTV NewsDesk   |  February 27 2013 5:30 EST

chart provided by forextv.comForexTV.com (New York) by Kaveh Eslampour

An umbrella opposition group in Egypt, the National Salvation Front (NSF), announced Wednesday that they will be boycotting the upcoming parliamentary elections. Political polarization continues to be the defining characteristic of the post-Mubarak era as the Morsi government struggles with riots and economic downturn, especially in the Suez Canal zone.

 

The group is Egypt’s main opposition to the Islamist led leadership, formed by an alliance of secular liberals, leftists, and members of Mr. Mubarak’s former governing party. Led by the former head of the International Atomic Energy Association Mohammad ElBaradei, the group aims to question the legitimacy of voting laws, the constitution, President Morsi’s cabinet, and the political structure currently in place.

 

In a televised news conference, NSF spokesperson Sameh Ashour said “there can be no elections without a law that guarantees the fairness of the election process and a government that can implement such a law and be trusted by the people.” He went on to say that “all [their] demands have been ignored, topped by the formation of a neutral government.”

 

In nationwide election in January 2012, Egypt elected President Mohammad Morsi’s Freedom and Justice Party, a branch of the international Islamist group the Muslim Brotherhood, to the biggest share of parliamentary seats. However, the lower house of parliament was dissolved in June after the Supreme Constitutional Court ruled that one of the election laws was illegitimate. The NSF has demanded “the formation of a committee to redraft the constitution” after Morsi suspended the authority of Egyptian courts and voters approved the constitution in a referendum.

 

The parliamentary elections, scheduled to begin April 22nd, will be between Islamist groups like the Freedom and Justice Party and the Salafi Nur party and leave little room for secularists. Mohammad ElBaradei told the BBC the National Salvation Front would “not participate in a sham poll.” The group has also rejected an attempt by President Morsi to hold a national dialogue with leaders from across the political spectrum to ensure fairness and confidence in the elections.

 

With over 70 dead following the violence between security forces and protesters last week, the political fray continues to unravel for President Morsi as opposition groups tap into civil unrest over the direction of the Egyptian government. 

 

Forex research by ForexTV.com



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