10 things you need to know today: June 18, 2012

Egypt's Muslim Brotherhood declares victory, Greece's pro-bailout party wins, and more in our roundup of the stories that are making news and driving opinion

Egyptian supporters celebrate a premature victory for their presidential candidate, the Muslim Brotherhood's Mohamed Morsi, in Tahrir Square on June 18, despite official results not having be
(Image credit: Daniel Berehulak/Getty Images)

1. MUSLIM BROTHERHOOD DECLARES VICTORY IN EGYPT

Late Sunday, the Muslim Brotherhood's Mohamed Morsi claimed victory in Egypt's presidential run-off election, just as the country's military rulers moved to strip the presidential position of power. The Supreme Council of the Armed Forces, which has controlled the country since President Hosni Mubarak was ousted, issued a decree saying that it would retain legislative and budgetary powers until a new parliament is elected and a new constitution is written. Meanwhile, Morsi's opponent in the run-off, Ahmed Shafik, a former prime minister under Mubarak, has refused to concede, saying votes are still being counted. Both sides have alleged election fraud and called for an investigation. In his victory speech, Morsi made no mention of the military rulers' power grab. A spokesman for the military council says that while the new president will not have the power to make laws and budget-related decisions until a new parliament is elected, he will get to set the date for the parliamentary elections and have the power to pardon and appoint government officials. [CNN]

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