Slatest PM: Egypt in Turmoil       

Your News Companion by Ben Mathis-Lilley
July 1 2013 5:04 PM

Slatest PM: Egypt in Turmoil

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Hundreds of thousands of Egyptian demonstrators gather outside the presidential palace in Cairo during a protest calling for the ouster of President Mohamed Morsi on July 1, 2013. Egypt's armed forces warned that it will intervene if the people's demands are not met within 48 hours, after millions took to the streets to demand the resignation of Morsi. AFP PHOTO / KHALED DESOUKI (Photo credit should read KHALED DESOUKI/AFP/Getty Images)

Photo by KHALED DESOUKI/AFP/Getty Images

Morsi’s Clock is Ticking: CBS News: “Egypt's powerful military warned Monday that the nation's first democratically-elected leader in decades had just 48 hours to answer the demands made by thousands of anti-government protesters calling for his ouster, or it would intervene to force a political transition. The military's ultimatum was, it said, a ‘last chance.’ In a statement read on Egyptian state television, Defense Minister Gen. Abdel Fattah al-Sissi lamented that conservative Islamist President Mohammed Morsi and the largely younger opposition movement, which has led massive protests calling for early elections, had failed to reach an agreement during the previous week.”

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Muslim Brotherhood Attacked Last Night: Reuters: “Eight people died in a night of fighting around the Brotherhood building, where guards fired on youths hurling rocks and fire bombs. A Brotherhood official said two of its members were hurt. Another eight people were killed and 731 injured in clashes around the country on Sunday, the health ministry said… The Brotherhood's official spokesman told Reuters that the attack had crossed a red line of violence and among possible responses might be to revive 'self-defense committees' former during the 2011 uprising.”

What’s Next: New York Times: "The military’s ultimatum seemed to leave Mr. Morsi few choices: cut short his term as president with a resignation or early elections; share significant power with a political opponent in a role such as prime minister; or attempt to rally his Islamist supporters to fight back for power in the streets. Mr. Morsi’s adviser said the military should not assume that the Brotherhood would accept its ouster without an all-out battle to defend his democratic victories. The Brotherhood may not ‘take this lying down,’ the adviser said.”

Happy Monday! Welcome to the Slatest PM, where we’re rounding up the day’s top stories and celebrating the first day of July. Follow me, your afternoon news guide, on Twitter at @s_brodez and the whole team at @slatest.

Obama Defends European Surveillance: Politico: “President Barack Obama on Monday defended U.S. spy agencies’ surveillance of European governments, calling the practice of monitoring allies standard in the international intelligence community. ‘In European capitals, there are people who are interested in if not what I had for breakfast, then at least my talking points,’ he said in Dar es Salaam, Tanzania, suggesting that the U.S. allies engage in the same practices detailed in The Guardian’s Sunday story featuring new revelations from documents leaked by former National Security Agency contractor Edward Snowden.”

Student Loan Rate Doubles: Washington Post: "The interest rate on a key federal student loan doubled Monday, as expected, but it is unclear whether Congress will allow the increase to stand before the new school year gets under way. Federal law has set the rate for new subsidized Stafford loans at 6.8 percent, up from 3.4 percent. The subsidy means that these loans, for undergraduates with demonstrated financial need, do not accrue interest while the students are in school. It is estimated that the rate hike would add about $1,000 in interest over the life of a loan for many borrowers."

Top Vatican Official Arrested: Associated Press: “A Vatican accountant arrested in a 20 million euro ($26 million) smuggling plot acknowledged Monday during questioning that his behavior was wrong but said he was only trying to help out friends, his lawyer said… Scarano was arrested Friday with two other people in an elaborate plot to smuggle 20 million euros from a Swiss bank account into Italy by private jet without reporting it to customs officials. It was the latest financial scandal to hit the Vatican and its embattled bank, which has long been regarded as an offshore tax haven prone to scandal.”

Zimmerman Tape Played in Trial: New York Times: "For the first time, the jury in the trial of George Zimmerman on Monday heard the defendant, in a taped police interview, give his version of events the night he fatally shot Trayvon Martin, an unarmed 17-year-old, in a townhouse complex here 16 months ago. In a calm, unhurried voice, Mr. Zimmerman, who at the time was bleeding from his nose and the back of his head, told the interviewing officer that he followed Mr. Martin after he aroused his suspicion, and that he was then attacked by the teenager and ended up shooting him in a struggle.”

Latest in Bradley Manning Trial: Guardian: “The US government is seeking to bolster its case against Bradley Manning, the source of the largest leak of state secrets in American history, by presenting the soldier's trial with evidence that Osama bin Laden and al-Qaida used the anti-secrecy site WikiLeaks and the wider internet as a research and propaganda tool. As the prosecution approaches the end of its case, government lawyers presented the trial judge, Colonel Denise Lind, with testimony and statements of fact that attempted to underline al-Qaida's familiarity with the web and WikiLeaks specifically. The effort speaks to the most serious ‘aiding the enemy’ charge against Manning in which the prosecution must prove that by passing classified material to WikiLeaks the soldier knowingly gave potentially damaging intelligence to US enemies.”

Bush and Obama Cross Paths in Africa: Washington Post: “On Monday, Obama travels to Tanzania, where he could wind up face to face with Bush, whose visit will overlap with Obama’s there the next two days. Bush’s wife, Laura, will participate in a First Ladies Summit hosted by the George W. Bush Foundation, and first lady Michelle Obama also will participate. White House aides suggested Sunday that the two men could appear with each other, although they said no plans have been set. 'There may be something. We’ll keep you updated,' deputy national security adviser Ben Rhodes said. For Obama, the success of Bush’s program has proved a tad awkward, as he has been mindful to praise his predecessor even as he tries to push forward on his administration’s own plans for new programs based on private investment from U.S. businesses.”

No “War on Coal:” Guardian: The US government is not waging a 'war on coal' but rather expects it to still play a significant role, energy secretary Ernest Moniz said on Sunday, rejecting criticism of President Barack Obama's climate change plan. Last week Obama promised new rules to cut carbon emissions from US power plants and support renewable energy. The coal industry, which would be hit hard by carbon limits, criticised the plan. Republicans accused the president of advancing policies that harm the economy and jobs. But environmentalists cheered the proposals, though some said the moves did not go far enough.”

A Few More Quick Hits from Slate:

MoneyBox: Outsource the CEO

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