A state of serious concern dominates financial markets and economic systems worldwide due to the U.S. economy crisis, leader of global economy. The main reason of the economic crisis is because of the failure of democratic and republic forces in U.S. Congress in solving the crisis of U.S. debts. The debts were a resulted of exceeding loans, over U.S. $14.3 trillion, the accepted limit for loan, which should be paid on August 2. Financial and economic market experts assured there is no doubt the global economy is affected because of this crisis, since the U.S. economy is the current leading influence in global economy. Thus the repercussions of the crisis will affect the Egyptian economy and stock market even after the problem is the U.S. is solved. The U.S. debts and economic crisis will affect Egyptian economy, since Egyptian investments is estimated at 25 percent of Egyptian deposits overseas, which will cause the stock prices to fall in Egypt, said the global economic expert and the deputy of business and economics at the Misr University for Science and Technology (MUST), Mostafa el-Nasharty said. The U.S. dollar will be affected as a consequence of the crisis. Since 65 percent of international transactions depend on the U.S. dollar, most countries will be affected by the crisis, according to the former undersecretary of the ministry of Economics, Farouk Shakweer. “It is self-evident the U.S. crisis warns of the collapse of international monetary system, which needs further consideration and refinement by economists in what was written about economics in the past few decades. There will be a re-evaluation of risks to pick the safest investment's tools in the U.S.,” the member of the Egyptian stock market administration and chairman of the board of directors of Arab online stock market company, Hesham Tawfik. The influence of U.S. debts crisis won't affect Egypt too much because of political incidents in Egypt, due to the temporarily separation of Egypt from the global market, according to a financial markets expert, Mohamed Saeed. He said the crises will cause foreign investors to withdraw from the Egyptian market. He expected two U.S. parties will find a solution to their crisis during the next few days. He assured the price of the U.S. dollar will be affected, whatever the solution is, and will negatively influence global economy.
