Egypt unraveling making economic challenges tougher.

Violence in Egypt escalates, as economic calamity depends.

THE ESCALATION of violence in Egypt has led to dozens killed and hundreds wounded, according to multiple reports. The dangers inside Egypt bode badly for the collapsing economic reality in that country, much of which comes from tourism.

Reuters reporting:

At least 51 people were killed on Monday when demonstrators enraged by the military overthrow of Egypt’s elected Islamist president said the army opened fire during morning prayers outside the Cairo barracks where Mohamed Mursi is believed held.

But the military said “a terrorist group” tried to storm the Republican Guard compound and one army officer had been killed and 40 wounded. Soldiers returned fire when they were attacked by armed assailants, according to a military source.

In the deadliest incident since Mursi’s removal, emergency services said more than 430 were wounded.

Also developing is the delay of the appointment of ElBaradei as prime minister.

[…] A spokesman for interim President Adly Mansour, Ahmed el-Musilamani, told reporters on Saturday that consultations were continuing, denying that the appointment of the Nobel Peace laureate was ever certain.

However, reporters gathered at the presidential palace were ushered into a room where they were told by an official to wait for the president who would arrive shortly to announce ElBaradei’s appointment.

A senior opposition official, Munir Fakhry Abdelnur, tells the Associated Press that the reversal occurred because the ultraconservative Salafi el-Nour party objected to ElBardei’s appointment and mediation was underway.

Al Jazeera has described the carnage inside Egypt as a “massacre.”