Egypt in Crisis Amid State of Emergency, Curfew

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Aug. 14 (Bloomberg) -- On today's "Global Outlook," Matt Miller reports on the Egyptian state of emergency on Bloomberg Television's "Street Smart." (Source: Bloomberg)

This is "street smart" on bloomberg television.

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The army-backed government in egypt is declaring a state of emergency.

They're imposing a nationwide curfew after security forces stormed camps of protesters in cairo.

Matt miller has the story in today's outlook.

We called it an arab spring.

Then they said it wasn't a coup another month ago, then it gets worse.

You can say it's not a coup, but the military took out the president-elected by the people.

Call it what you want.

Give you the facts of what happened.

We can investigate why and who's funding it -- we are.

A curfew for much of the country killing 149 people when they stormed an islamist protest camp.

The vice president mohammed elbaradei resigned saying he didn't want the responsibility for, quote, bloodshed that could have been avoided.

Let me tell you what the state media is reporting.

Grain of salt -- muslim brotherhood is leading the protest there in the camps.

They have occupied the finance ministry and they're apparently holding hostages according to state media in that burning finance building.

What are we doing about it?

So far here in the u.s., nothing.

Listen to what secretary of state john kerry had to say today.

Today's events are deplorable.

They run counter to aspirations of peace and.

They need to calm the situation and avoid the former loss of life.

The white house and congress attained well over $1 billion in military aid to egypt.

President obama requested an increase in aid from $1.3 billion to $1.55 billion in the fiscal 2014 budget.

Army general martin dempsey, the chairman of the joint chiefs of staffs told the armed services committee that, quote, they are worth the investment because the arizona republican can and now manies are wondering why they're ordering the stop of egypt's weapons.

That's the story -- what we're paying for is the military government to buy

This text has been automatically generated. It may not be 100% accurate.


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