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Egypt opposition: Election will add to tensions

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On the second anniversary of the Jan. 25 uprising, anger spilled out onto the streets and violence again engulfed the nation. About 70 people died in a wave of protests, clashes and riots in the past four weeks, and more than half were killed in Port Said alone.

Factory workers, activists and laborers in Port Said have held street rallies that brought the city on the northern tip of the Suez Canal to a halt, although shipping in the international waterway has not been affected.

Port Said commentator Sayid Azab said the city opposes Morsi's timetable for the parliamentary vote.

"Everyone is rejecting the elections and asking how they can take place in the absence of stability," he said.

Civil disobedience in Port Said has stopped work at the foreign-run Suez Canal Container Terminal. Managing director Klaus Hol Laursan said 2,000 workers have been unable to reach the terminal for four days due to protesters blocking the street, and the army has been unable to help.

"We are, as a business, not part of the conflict. We are bystanders hurt by circumstances," he told The Associated Press. "In order to be able to attract business, we need stable productivity so we can help Egypt grow and recover its economy."

The political unrest has hit Egypt's foreign currency reserves, which have fallen below a critical level to less than $14 billion. The country is in talks with the International Monetary Fund for a nearly $5 billion loan that would shore up confidence again in the country's economy and free up other loan requests. Insiders say talks have been prolonged because of Morsi's reluctance to implement unpopular austerity measures ahead of elections.

Abdullah Shehata, an economic expert with the Brotherhood, declined comment on when austerity measures could be implemented, but said the elections will help the country's ailing economy.

"The elections will be positive because it will be the final institution to fall into place after the presidency and the constitution," he said. "The coming parliament will be elected by the people and will help build confidence in Egypt again. "

In Cairo, the opposition party led by former Mubarak rival Ayman Nour said its offices were torched and stormed by masked gunmen Friday. Speaking to the state-run Ahram Arabic website, the group said the men stole documents and videotapes before setting it ablaze.

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

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