Egyptian Military Give Morsi an Ultimatum

Egyptian army gave the president and his opponents 48 hours to resolve the crisis.
2:01 | 07/02/13

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Transcript for Egyptian Military Give Morsi an Ultimatum
We turn to egypt, where the military has given the president there a major ultimatum. He has until tomorrow to end the crisis engulfing his country and his presidency. Millions of people taking to the streets, demanding that president morsi will step down. And alex marquardt is there at the flashpoint, tahrir square in cairo. Good morning, alex. Reporter: That's right. The military saying enough is enough. Egypt is in a political crisis and economic crisis. They're saying that the people just can't continue like this. So, what we're going to see now is if the president doesn't meet the people's demands, if he doesn't meet the demands of the people protesting across egypt for the last several days, the military will step in and intervene with their own plan. Jubilation on tahrir square, as the military handed down its ultimatum to egypt's president. Army helicopters flew overhead. A sign, protesters said, the military is in their corner. We're very happy. It's one of the best things that has happened to egypt. We've been looking forward to it for almost a year now. Reporter: The army, you feel is on your side? Yes. Reporter: The same protesters demonstrated against the army when it ran the country following egypt's revolution. Today, the military is seen as saviors, swooping in to rescue a deeply polarized egypt, with an economy that's been decimated. Visitors to the giza pyramids have all but disappeared. Gas lines are hours long. The country is not functioning. The economy's doing badly. Reporter: Morsi supporters say he hasn't been given enough time. To achieve our hopes and to help all the people in one hand. Reporter: Morsi has rejected the ultimatum. His aides say it's a coup. But the military says that's not what they're trying to accomplish. All we know now, is the clock is ticking.

This transcript has been automatically generated and may not be 100% accurate.

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