Mohamed Morsi, the Egyptian President signed the new constitution into law today that was Islamist-drafted. He said the new constitution would help put an end to the political turmoil and give him time to focus on fixing the economy in the country.
Anxiety over the deepening crisis over the economy has taken a hard grip on Egypt, with many Egyptians taking out all of their savings from banks and new restrictions being imposed by the government to reduce the flight of all the capital in the banking system.
On Tuesday, the national referendum results were announced showing that Egyptians had approved the constitution text by 63.8%, which paved the way for new parliamentary elections to take place in the next two months.
The victory also gave Islamists their third consecutive victory electorally since Hosni Mubarak the veteran autocrat was toppled in the revolution of 2011. Morsi signed a decree that enforced the charter late Tuesday, after the announcement had been made over the results of the referendum voting approving the law, the first constitution in Egypt since Mubarak was toppled.
The new text sharpened the painful divisions amongst the most populous country in the Arab world and prompted violent protests in Cairo’s streets. The new basic law has been condemned by opposition groups as being too undemocratic and to Islamist. They say it could give clerics the right to intervene in the process of lawmaking and leave the minority groups without any proper legal protection.
However, Morsi, who was catapulted into his position of power by Islamist allies, believes that adopting the text is the key to putting an end to a long period of turmoil and uncertainty that wrecked the country’s economy.