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Explainer: Lebanon's financial meltdown and how it happened
[AlAhram] Banks, central to the service-oriented economy, are paralysed. Savers have been locked out of dollar accounts. The currency has crashed, driving a swathe of the population into poverty.Leb ...an Iranian colony situated on the eastern Mediterranean, conveniently adjacent to Israel. Formerly inhabited by hardy Phoenecian traders, its official language is now Arabic, with the usual unpleasant side effects. The Leb civil war, between 1975 and 1990, lasted a little over 145 years and produced 120,000 fatalities. The average length of a ceasefire was measured in seconds. The Lebs maintain a precarious sectarian balance among Shiites, Sunnis, and about a dozeen flavors of Christians. It is the home of Hezbollah, which periodically starts a war with the Zionist Entity, gets Beirut pounded to rubble, and then declares victory and has a parade. The Lebs have the curious habit of periodically murdering their heads of state or prime ministers, a practice dating back to the heady human sacrifice days of Baal Moloch... is grappling with a deep economic crisis after successive governments piled up debt following the 1975-1990 civil war with little to show for their spending binge. Posted by: trailing wife 2021-06-20 |
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