COLUMBIA (WACH) -- During a televised speech in Cairo Thursday evening, President Hosni Mubarak says he's staying put.Mubarak says he will transfer some power to the country's Vice President Omar Suleiman.
Protestors in the country have been calling for Mubarak to step down for almost two weeks.
During the televised speech Thursday, Mubarak also said he will not accept or listen to any foreign interventions or dictations.
WACH Fox News spoke with a local Egyptian professor at the University of South Carolina to get his perspective about what this latest development means for Egypt.
"It's really a game of chicken in a sense that both sides are playing with the Egyptian economy and the welfare of the people. Things have gotten to dire circumstances now," says Waleed El-Ansary USC Associate Professor of Islamic Studies.
Officials say Egypt’s economy has taken a beating due to the last two weeks of anti-government protests.
TV Station Profiles & Public Inspection Files forWACH