Egypt's army is reportedly preparing a coup after President Mohamed Mursi declared that he would...

|By:, SA News Editor

Egypt's army is reportedly preparing a coup after President Mohamed Mursi declared that he would not bow to demands from protestors to step down. On Monday, army chief General Abdel Fattah al-Sisi gave Mursi until 5 pm today (11 am ET) to come to an agreement with opposition leaders in order to end widespread unrest. Should the deadline pass without a deal, the army has a plan to remove Mursi, suspend the constitution and install an interim government pending new elections. The turmoil has caused oil prices to spike, while Egyptian shares surged 4.9% yesterday.