{{European Union governments will this week question how to best use their economic ties with Egypt to pressure Cairo’s army-backed rulers into finding a peaceful compromise with supporters of deposed Islamist President Mohamed Mursi}}.<\/p>\n
At stake could be a 5 billion euro ($6.7 billion) package of grants and loans promised by the EU, its member governments and international financial institutions last year, as well as various trade incentives, EU officials and experts say.<\/p>\n
The EU’s ability to exert immediate economic pressure on Cairo is limited – much of its current aid is already stopped because of inadequate democratic reforms.<\/p>\n
But the hope is that such a signal could help end a bloody crackdown by the government against Mursi’s Muslim Brotherhood, in which around 800 people have died, and prevent further bloodshed between the two sides.<\/p>\n
President of the European Council Herman Van Rompuy and European Commission President Jose Manuel Barroso, two of the most senior EU officials, said in a statement on Sunday the 28-member bloc should “urgently review” its relations with Cairo to try to end the violence.<\/p>\n
Senior EU diplomats will meet in Brussels on Monday to decide which areas of economic cooperation could be targeted and prepare a possible meeting of EU foreign ministers to be held in the next two weeks.<\/p>\n
“Egypt is a key partner of the European Union,” the two officials said. “Further escalation must be prevented. It could have unpredictable consequences for Egypt and for its broader neighborhood.”<\/p>\n
In the past days, a host of European foreign ministers have raised the specter of suspending economic aid.<\/p>\n
France’s Laurent Fabius has said “nothing could be ruled out” in terms of aid policy.<\/p>\n
“What is evident is that we must quickly stop the bloodshed and reach an inter-Egyptian dialogue. It is not easy of course. We have to mobilize all our energies so that a solution is found by Egyptians,” he told reporters on Sunday.<\/p>\n
Austria’s Michael Spindelegger called on the EU to withhold its main aid deal.<\/p>\n
additional information-wire<\/p>\n","protected":false},"excerpt":{"rendered":"
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