The quest for political and social stability has been the hallmark of the 19-year authoritarian rule of President Hosni Mubarak. So, as the collapse of the Middle East peace process in the past year raised concerns of a wider regional conflict, and an economic slowdown heightened fears of social unrest, the Egyptian ruler's caution has increased.

After an unusual burst of energy, which resulted in a a number of economic reforms in the first half of the past decade, Egypt now looks sleepy, a country of 66m people with vast potential but apparently lacking the institutional ability to unleash it.