Egypt has a critical position in an area that's dramatically unstable. ISPI, Istituto per gli Studi di Politica Internazionale, has published a report analyzing recent events. As the report point out:
The restoration of the strategic axis with Saudi Arabia and the struggle against radical Islam are the two pillars of this new political phase. However, there are critical elements, too, from further deterioration of the political and civil liberties indexes, to the emergence of jihadist groups in the Sinai, to the enduring economic and financial difficulties. As a result of these changes, Europe and Italy should calibrate a new policy aimed at safeguarding their interests, especially from the points of view of security, stability and the fight against terrorism.
You can download the report here