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Concern over whether unrest in the country leaves Egypt unable to support the banking system...

Concern over whether unrest in the country leaves Egypt unable to support the banking system leads to a downgrade of its banks by Moody's. The agency also downgrades Egypt's debt to Ba2. Commercial Int'l Bank (CIBEY.PK -4.6%). EGPT -5.7%.
Comments (1)
  • Donald Ingram
    , contributor
    Comments (3481) | Send Message
     
    Bank run. These two words strike icy cold fear, into the unfeeling hearts of all bankers! This concern is right up there with whether support for the system is sufficient. The global financial community are watching developments very closely, fingers poised above keyboards. Any shock to the system will implode it.
    2 Feb 2011, 11:18 AM Reply Like
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