Morsi Signs Constitution

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.