In a thankfully slow night for Egypt in the foreign press, we have managed to catch some interesting reads (both good and bad).

Reuters is running an analytical piece which again cautions Nigeria to follow in Egypt’s footsteps and adopt a full devaluation of the EGP. Those afraid of a currency collapse need only to look at Egypt and be reassured, as it quickly regained 20% of its value following a nosedive of 50% following the float, said Hasnain Malik, head of frontier markets strategy at Exotix in Dubai. The benefits of attracting capital inflows should not go unnoticed. "What Egypt does show is that foreign capital is comfortable pricing risk and returning to a market when there is a liquid, functioning FX market for all," Malik added.

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