Egyptian President Ousted, Was It a Coup?

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July 5 (Bloomberg) -- Hans Nichols reports on whether the White House will refer to the Egyptian ouster of deposed President Mohamed Mursi as a coup. Nichols speaks on Bloomberg Television's "Market Makers." (Source: Bloomberg)

Let's move on.

President obama did meet with his national security team yesterday to discuss the ousting of the egyptian president mohamed morsi.

Hans nichols has been wrapped up for us.

What are you hearing?

We are not hearing the crucial word "coup." they have not made an announcement on whether they have determined the ousting of president morsi amounts to a coup.

Military and economic assistance is in the balance.

We have a test of the relationship.

That was always the way the u.s. and egypt operated going back decades.

Commanders coming over here attending our military academies, going back and forth.

Secretary hagel is reaching out to his counterparts.

John kerry is reaching out to his.

In the past, you have seen the white house and obama administration be flexible.

Remember march of 2012. this was 13 months after the initial ousting of mubarak.

The white house made the determination everything was going according to plan towards democracy.

They released $1.3 billion at the time.

What will be the linkage of the white house projection with other arab nations?

Are we doing this in a vacuum?

Are we going to do it with saudi arabia and the uae?

There are direct conversations going on between secretary john kerry and his counterparts.

You will see an effort to put this in the context to have the gall state allies on the same page.

If they are not burning up.

Of fire miles, they are burning up telephone time.

It is not glamorous or exciting, but this is what it is made up.

We will see how successful they have been.

Greatly appreciate it.

A busy day at the white house.

We will talk more about the showdown of in egyptian politics.

It is not a kook.

We will speak to a secular critics of the ousted president.

-- it is not a coup.

Are you having a bad day?

It could be worse.

We will tell you about the billion that lost 1/4 of his fortune in one day.

This is "market makers" on bloomberg television.

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

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