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The UK, France and other European countries are considering requests to freeze assets held by several former Egyptian officials.
UK Foreign Minister William Hague said yesterday: “We will of course co-operate with this request, working with EU and international partners as we have done in the case of Tunisia. If there is any evidence of illegality or misuse of state assets we will take firm and prompt action.”
EU finance ministers discussed ways of supporting a new Egyptian government at a Brussels meeting yesterday as the country’s army urged people to return to daily life.
On Monday the army dissolved parliament, suspended the constitution and said it would rule Egypt until elections were held after protests forced the resignation of former president Hosni Mubarak.
“We ask the authorities to be alert, to maintain increased vigilance on all movements of funds,” said French Finance Minister Christine Lagarde. “We have the capacity to freeze transfers if warranted.”
Mubarak’s family might have more than £1.5 billion (R17.5bn) in British and Swiss bank accounts and in property in London, New York and Los Angeles, the Sunday Times reported, without saying where it got the information. – Bloomberg
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