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I think part of the peace deal between Israel and Egypt was that we would provide Egypt with annual aid. Even though that sounds stupid from the outset, at some point, if the original agreement is going to be honored by the new Egyptian government, we'll have to honor our part of that committment. If they don't plan to honor the agreement then we need to hold on to our money. I guess one needs to start by having the peace agreement spelled out so the options are understood.
The problem is, this was approved after Egypt's lower house unanimously declared that Israel is their number one enemy. That doesn't seem to be a gesture of good faith.