EGYPT LATEST – AT 10:37 A.M. ET:  The army is moving to meet demonstrators' demands, but there are loopholes.  From AP:

CAIRO — Egypt's military leaders dissolved parliament and suspended the constitution Sunday, meeting two key demands of protesters who have been keeping up pressure for immediate steps to transition to democratic, civilian rule after forcing Hosni Mubarak out of power.

The military rulers that took over when Mubarak stepped down Friday and the caretaker government also set as a top priority the restoration of security, which collapsed during the 18 days of protests that toppled the regime.

The protesters had been pressing the ruling military council to immediately move forward with the transition process by appointing a presidential council, dissolving the parliament and releasing detainees.

"In a country like Egypt, with a pharaonic legacy, having no president and no head of state is not easy," said Amr el-Shobaky, a member of the Committee of Wise Men — a self-appointed group of prominent figures who are allied with the protesters and helping mediate in the crisis.

Note the following asterisk:

In their latest communique, the ruling council said it will run the country for six months, or until presidential and parliament elections can be held. It said it was forming a committee to amend the constitution and set the rules for popular referendum to endorse the amendments.

COMMENT:  "...or until presidential and parliament elections can be held."  There's an opening big enough to drive an American-made truck through. 

We really don't know the outcome here.  It will be fascinating, but dangerous.

February 12, 2011