Egypt's Muslim Brotherhood threatens to review treaty with Israel

The Islamist party that leads the new Egyptian Parliament is threatening to review the Y 1979 peace treaty with Israel if the United States cuts off aid to the Country over a crackdown on American-backed nonprofit groups here.

The pact is considered a linchpin of regional stability, and the statements, from at least 2 senior leaders of the party, the political arm of the Muslim Brotherhood, represent the first time that Egyptians have explicitly raised it during an escalating standoff over the crackdown.

The Obama administration and Congressional leaders have already warned Egypt that the United States might cut off its annual aid to the Country, which in the most recent budget came to US$1.3-B in military supplies and about US$250-M in other subsidies, including some money directed to the nonprofit groups under investigation. At least 2 US senators have introduced legislation that could curtail the aid, and the Brotherhood released its statements Thursday as the House Foreign Affairs Committee held a hearing on the matter.

Leaders of the Brotherhood have said that they would respect the American-brokered Y 1979 treaty, and the seriousness of their new threats is hard to assess.

Many analysts, as well as some Brotherhood leaders here, have cited internal domestic reasons to respect the treaty, mainly because it ensures peaceful borders at a time when Egypt can ill afford the cost of a military buildup and its economy teeters on the brink of collapse.

Paul A. Ebeling, Jnr. Paul A. Ebeling, Jnr

Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster's Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.

Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels. www.livetradingnews.com