Cairo protesters refuse to move over Mursi's power grab

Cairo protesters refuse to move over Mursi's power grab
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Protesters in Cairo’s Tahrir Square are maintaining their sit-in as Egypt’s President meets senior judges over his bid to assume nearly absolute power.

In scenes reminiscent of last year’s revolution, demonstations are growing against Mohamed Mursi. He claims his measure is a “temporary” effort to speed up reforms that will complete Egypt’s democratic transformation.

But his critics say they want nothing less than the complete cancellation of a decree they see as a danger to democracy.

Egypt’s main stock market index dropped 4 percent on Monday, extending a fall triggered by a
political crisis that eroded a tenth of its value the previous day, on worries that a row over an expansion of the president’s powers will bring more turmoil.

Since Mursi’s move four days ago, more than
500 people have been injured in clashes between police and protesters. One Muslim Brotherhood was killed in an attack on the party’s office in Damanhour.

Egypt’s highest judicial authority has called for a compromise but with Mursi still enjoying large support, the country is preparing for a drawn out battle. Rival protests are planned on Tuesday.

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