Is political Islam matching the aspirations of the Arab Spring? Egyptians may have a clear answer after living a few years under a Muslim Brotherhood administration. Early signs from Cairo are not encouraging. President Morsi, representing the Brotherhood, won the post-uprising Egyptian presidential elections for three main factors: support of a relatively well-organized grassroots movement, being a leader of a resilient opposition to a series of corrupt regimes and a promise to take a moderate approach to political Islam. It turns out that the Morsi model of governance is a disappointing mixture of hardline religious fundamentalism, pragmatic capitalism and survival politics.