Morsi Signs Constitution

    Polling station officials deposit ballots during the second round of a referendum on a new draft constitution in Giza, south of Cairo, on December 22, 2012. Egyptians are voting in the final round of a referendum on a new constitution championed by President Mohamed Morsi and his Islamist allies against fierce protests from the secular-leaning opposition. AFP PHOTO/MAHMUD HAMS        (Photo credit should read MAHMUD HAMS/AFP/Getty Images)

    Mahmud Hams/AFP, via Getty

    Egyptian President Mohamed Morsi signed the new Islamist-drafted constitution into law, after results of the constitutional referendum showed that 63.8 percent of voters approved the document. Opponents said that the constitution was too Islamist and did not offer enough protection to minority groups. But Morsi argued that the constitution offers enough protection for everyone and that the turmoil surrounding the constitution has prevented his government from focusing on the economy. Anxiety over the country’s economic situation has led to many taking cash out of banks and hoarding money at home. As a result, authorities recently made it illegal to enter or leave Egypt with more than $10,000 in cash.

    Read it at Reuters