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Egypt's president stands by his decrees

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The verdict meant that legislative authority first fell in the hands of the then-ruling military, but Morsi grabbed it in August after he ordered the retirement of the army's two top generals.

Morsi's decrees, which were announced Thursday, saved the constitutional panel and the upper chamber from a fate similar to that of the People's Assembly because several courts looking into the legal basis of their creation were scheduled to issue verdicts to disband them.

Ayman al-Sayyad, a member of Morsi's 17-member advisory council, said the presidential aides asked the president in meetings over the weekend to negotiate a way out of the crisis and enter dialogue with all political forces to iron out differences over the nation's new constitution.

Secular and Christian politicians have withdrawn from the 100-seat panel tasked with drafting the charter to protest what they call the hijacking of the process by Morsi's Islamist allies. They fear the Islamists would produce a draft that infringes on the rights of liberals, women and the minority Christians.

The president, al-Sayyad added, would shortly take decisions that would spare the nation a "possible sea of blood." He did not elaborate.

The dispute over the decrees, the latest in the country's bumpy transition to democracy, has taken a toll on the nation's already ailing economy. Egypt's benchmark stock index dropped more than 9.5 percentage points on Sunday, the first day of trading since Morsi's announcement. It fell again Monday during early trading but recovered to close up by 2.6 percentage points.

It has also played out in urban street protests across the country, including in the capital, Cairo, and the Mediterranean port city of Alexandria.

Thousands gathered in Damanhoor for the funeral procession of 15-year-old Islam Abdel-Maksoud, who was killed Sunday when a group of anti-Morsi protesters tried to storm the local offices of the political arm of the president's fundamentalist Muslim Brotherhood, Egypt's most powerful political group.

The Health Ministry said Monday that 444 people also have been wounded nationwide, including 49 who remain hospitalized, since the clashes erupted on Friday, according to a statement carried by the official news agency MENA.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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