Egypt's economy is fucked, gets a $2bn bailout from Libya

[smurfy]

[img]http://puu.sh/2A02D[/img]

[url]http://www.reuters.com/article/2013/04/13/us-libya-egypt-idUSBRE93C0C220130413[/url]
[quote]Libya has deposited $2 billion in Egypt's central bank deducted from investments Tripoli has inside its neighbour, the central bank governor said on Saturday.

Speaking to Reuters, Saddeq Omar Elkabber said the amount was a "central bank deposit not a loan", but did not give further details.

"Libya's investments in Egypt total around $10 billion. These are in banks, property and other sectors," he said.

"Egyptian stability is important for Libya," he said. "This is like when the European Union helped Greece."[/quote]

[SnakeHead]

Libya is turning into such a bro.

[laserguided]

Hope they don't spend it all on tear gas.

[TorashVD]

I think Libya should replace Egypt in the "Next Eleven" Group, It recovered really fast and if it keeps the change going, it will be far more important than the rest of Africa(Except South Africa).

[laserguided]

[QUOTE=TorashVD;40279421]I think Libya should replace Egypt in the "Next Eleven" Group, It recovered really fast and if it keeps the change going, it will be far more important than the rest of Africa(Except South Africa).[/QUOTE]
Well, the reason they can afford this is because they're oil rich. I'm going to guess that a significant portion of their economy is oil exports. Egypt is a state of 82 million, Libya is a state of 6 million.

Definitely not, and I don't know where you got the idea that they would be a leading economy.

[Pvt. Martin]

Damn Libya you're awesome.

[smurfy]

[QUOTE=laserguided;40279580]Well, the reason they can afford this is because they're oil rich. I'm going to guess that a significant portion of their economy is oil exports. Egypt is a state of 82 million, Libya is a state of 6 million.

Definitely not, and I don't know where you got the idea that they would be a leading economy.[/QUOTE]

In the long-term, Libya plans to replace its oil-based economy with solar power and become an energy exporter [img]http://imgkk.com/i/km8u.gif[/img]

[url]http://www.reuters.com/article/2013/04/11/eu-libya-idUSL5N0CY2MZ20130411[/url]
[quote]"In 20 to 30 years Libya may run out of oil, therefore we plan to replace it with renewables," Electricity Minister Ali Mohammed Muhairiq told a Brussels conference on sustainable energy on Thursday. "I think if we just used less than 5 percent of the Libyan desert, annually it could power the whole of Europe."[/quote]

[url=http://www.libyaherald.com/2013/02/28/uk-university-says-libya-could-produce-more-energy-through-solar-power-than-oil/]UK university says Libya could produce more energy through solar power than oil[/url]

I'm not arguing with you I just wanted to post this cus it's cool as fuck

[Nebukadnezzar]

2 billion dollars? That's around 1.5% of apple's money stockpile

[Spool]

I'm so glad to see Libya flourishing after the revolution.

[TorashVD]

[QUOTE=smurfy;40279707]In the long-term, Libya plans to replace its oil-based economy with solar power and become an energy exporter [img]http://imgkk.com/i/km8u.gif[/img]

[/QUOTE]

And Ice-Cream exporter, don't forget the vanilla-flavored gold!

[Killerjc]

YOu know your country has gone to shit when even Libya gives you money

[DesolateGrun]

[QUOTE=Killerjc;40280206]YOu know your country has gone to shit when even Libya gives you money[/QUOTE]

But libya is a successful country now

[Coble]

[QUOTE=smurfy;40279707]In the long-term, Libya plans to replace its oil-based economy with solar power and become an energy exporter [img]http://imgkk.com/i/km8u.gif[/img]

[url]http://www.reuters.com/article/2013/04/11/eu-libya-idUSL5N0CY2MZ20130411[/url]

[url=http://www.libyaherald.com/2013/02/28/uk-university-says-libya-could-produce-more-energy-through-solar-power-than-oil/]UK university says Libya could produce more energy through solar power than oil[/url]

I'm not arguing with you I just wanted to post this cus it's cool as fuck[/QUOTE]

Libya's fuckin awesome! :dance:

[Coldmute]

Just imagine if Libya can keep this going indefinitely, think what they'll be like in 10 to 20 years. I'd love to see them in just 10 years.

[Vosk]

Libya also has the advantage of becoming a huge tourist destination in the future if this keeps up, very few Middle East countries have this advantage that Libya has.

[killerteacup]

Hell yeah another cool libya thread

[viperfan7]

[QUOTE=TorashVD;40279421]I think Libya should replace Egypt in the "Next Eleven" Group, It recovered really fast and if it keeps the change going, it will be far more important than the rest of Africa(Except South Africa).[/QUOTE]

at the rate its going it'll be one of the top places to live in the world in a decade

[Mr._N]

LibYEAH!

[Strontboer]

One by one, Every country is going to shit.

gg world leaders

[deltasquid]

[QUOTE=Djessey;40284553]One by one, Every country is going to shit.

gg world leaders[/QUOTE]

Every country has always been shit