Mubarak to Quit in Baden Baden, Germany?

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Der Spiegel’s website reports that Germany, the US and Egypt are arranging for Egyptian president Hosni Mubarak to fly to Germany for a fictional medical treatment, and from there he’ll announce his retirement from the presidency.

According to the highly regarded German paper, and other sources, Mubarak already left Cairo and is staying in the resort town of Sharem al-Sheikh, at the tip of the Sinai peninsula. From there, he is expected to fly and receive treatment in the German resort town of Baden Baden. Arrangements with the German hospital are in progress, according to this report.

According to information obtained by SPIEGEL ONLINE, plans for a possible hospital stay in Germany are far more concrete than had been assumed so far. Talks are already being held with suitable hospitals, particularly with the Max-Grundig-Klinik Bühlerhöhe in the southwestern town of Bühl near Baden-Baden, SPIEGEL ONLINE has learned from sources close to the clinic. The hospital management declined to comment.

Mubarak already received treatments in various hospitals in the world. There was talk in the past, way before the current mess, that Hosni Mubarak has cancer and doesn’t have much time to leave. In recent TV appearances, he looked rather healthy, especially considering his age – 82.

Will this bring about a peaceful victory to the Egyptian riots? With powers vested in vice president Omar Suleiman (or Soliman) and the Egyptian army now having control, this could bring down oil prices and send the dollar down. Will EUR/USD jump?

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Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.