A defiant President Hosni Mubarak today refused to step down immediately under any outside diktat and asserted that he will bow out only by September in a peaceful transition of power.
Egypt's new vice president, Omar Suleiman, has long sought to demonize the opposition Muslim Brotherhood in his contacts with skeptical US officials, leaked diplomatic cables show, raising questions whether he can act as an honest broker in the country's political crisis.
Egyptian opposition groups said on Sunday a meeting with Vice President Omar Suleiman was positive but had done nothing specific to meet their demands for a complete political overhaul in Egypt.
Violent clashes broke out in Cairo’s Tahrir Square between anti regime protesters and supporters of Mubarak, despite the army's call for protesters to return home. CNBC's Yousef Gamal El-Din told CNBC-TV18 that if the situation continues to get out of hand, Egypt's tourism which adds 11% to the GDP would nosedive, hurting the economy.
Egyptian President Hosni Mubarak offered talks on sweeping reforms with opponents on Monday, indicating that massive pressure from street protesters, Western allies and his own army are ending his 30 years of one-man rule.