Coup D'Etat In Egypt: Military Removes President Morsi And Suspends The Constitution

Hundreds of thousands mobilized across the nation to both protest and
defended Mohamed Morsi - Image credit: AFP/Getty Images via @daylife
Egyptian President Mohamed Morsi has been effectively overthrown by
the military on Wednesday.  In a statement by Army chief General Abdel
Fattah al-Sisi, the armed forces explained that President Morsi had
ignored calls of the people, and the armed forces for reconciliation,
and that it was suspending the constitution and calling for early
elections.  Massive crowds gathered in Tahrir Square reveled in
jubilation, while doubts remain over what the Muslim Brotherhood's
supporters, who back deposed President Morsi, will do.
The move was preceded by the mass mobilization of armed vehicles
around Cairo, particularly to areas of high concentration of people.
Reports indicated military forces were mobilized to areas where many
had gathered in support of Morsi, such as Cairo University.
In his televised statement, General Fattah al-Sisi noted the armed
forces were adhering to their civil responsibility and not looking to
move power.  Flanked by opposition leader Mohamed ElBaradei and the
Coptic Pope, the General unveiled their road map which included
suspending the constitution, putting the chief justice in charge,
calling for early elections, setting up an interim technocrat
government, and forming a committee to amend the constitution.
General Fattah al-Sisi suggested President Morsi hadn't paid attention
to the military's repeated attempts to get him to push for
reconciliation.  After meeting with opposition and religious leaders,
the armed forces chose to remove Morsi from power.
Finally, Egypt's military chief urged the people to steer away from
violence, but gave an ominous threat: we will stand up firmly and
strictly to any act that stands against the rule of law, he said,
referring to the Muslim Brotherhood and other pro-Morsi supporters who
have gathered en masse.
According to Stratfor, top members of the Muslim Brotherhood and the
Wasat party had been banned from leaving the country, including
President Morsi, and Muslim Brotherhood chief Mohamed Badie and his
deputy, Khairat al-Shater.
Egypt's first democratically elected president, Mohamed Morsi, hasn't
made an appearance on Wednesday.  Morsi had responded defiantly on
Tuesday to the military, urging them to remove a 48-hour ultimatum
that had been placed for achieving national reconciliation, in his
last public appearance.
Markets in the U.S. were already closed by the time of the
announcement, ahead of the July 4 holiday.  While stocks had rallied
on initial rumors of the coup, crude oil, which broke the $100 mark
for the first time since April 2012, began to trend down around 3:00
PM in New York, and was trading at 1.6%.  The Market Vectors Egypt had
rallied sharply, closing the day up 4.3%.