Egyptians Hoard Food as Protests Raise Concern of More Mayhem
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Ashraf Fouad has stuffed 30,000 Egyptian pounds ($4,300) in a wall safe in his Cairo apartment. Across town, Niven Mankarious has been stocking up on chicken, cheese and other food to last her family a month.
Like many Egyptians, they are anxious over the unclear direction their country is taking and fearful that violence will be ignited by June 30 protests aimed at ousting the country’s first democratically elected civilian president, the Islamist Mohamed Mursi. Tensions over this watershed in Egypt’s transition from autocratic rule has battered its stocks and bonds, with the risk of sovereign default at an all-time high.