The Repercussions of the Euro Area Debt Crisis on Neighboring Countries, Including Egypt

Closer to home, Europe is the number one trading partner for Egypt, accounting for approximately one third of its total exports and imports, and is deemed a major source of FDI and financial investments for the country. Hence, the prospects of slow recovery in Europe casts further shadow on the recovery of the Egyptian economy, which is already challenged by post-revolutionary political and economic instability.