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Who are the DUP and does the Democratic Unionist Party support the new Brexit deal?

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THE Democratic Unionist Party unexpectedly became kingmakers after the 2017 General Election, as their ten MPs keep a minority Tory government in power. In response to the Brexit deal being secured today in Brussels, the DUP have said they will not vote in favour. So who are they and what do they stand for? Follow […] Číst dále >>> Přeložit do en

Lebanon, pushed to the brink, faces reckoning over graft

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19.10.2019 00:23
Suha Shariff, Middle East Monitor
Lebanon
Lebanon pushed brink faces reckoning over graft

Lebanon is closer to a financial crisis than at any time since at least the war-torn 1980s as allies, investors and this week nationwide protests pile pressure on the government to tackle a corrupt system and enact long-promised reforms, Reuters reports. Prime Minister Saad al-Hariri’s government on Thursday hastily reversed a plan, announced hours earlier, to tax WhatsApp voice calls in the face of the biggest public protests in years, with people burning tyres and blocking roads. The country – among the world’s most indebted and quickly running out of dollar reserves – urgently needs to convince regional allies and Western donors it is finally serious about tackling entrenched problems such as its unreliable and wasteful electricity sector. Without a foreign funding […] Číst dále >>> Přeložit do en

Lebanon Leader Threatens to Abandon Ship During Largest Protests in Years

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Lebanon Leader Threatens to Abandon Ship During Largest Protests in Years (Bloomberg) -- Tens of thousands of protesters set fires and cut off roads across Lebanon Friday, demanding the removal of a political class whose mismanagement and corruption they say has brought the economy to the brink of bankruptcy.In a televised speech, Lebanese Prime Minister Saad Hariri gave his feuding coalition government a 72-hour deadline to get behind his plan for an economic overhaul or he would step aside and let them deal with a deepening crisis that has engulfed Lebanon in the biggest and most violent demonstrations in years.Hariri accused his rivals inside the government of blocking measures that could unlock some $11 billion in international aid pledges and help restore investor confidence.“If anyone thinks they have another solution” they are welcome to take power and try to implement it, Hariri said.The ultimatum did little to ease anger on the streets, where protests were into their second night. Amid chants of “revolution” and “the people want the fall of the regime,” demonstrators burned tires, blocked roads and converged on the government headquarters in the upscale business district of Beirut.As night fell, relatively peaceful protests in downtown Beirut descended into all out riots, with small groups of masked youths setting fires, smashing windows, overturning skips and throwing rocks at police who fired tear gas to disperse the crowd. With the violence worsening, large numbers of riot police and soldiers chased rioters down streets littered with debris and piles of broken glass. Army units deployed around Beirut to secure the streets. The economic stakes are high for Lebanon, a tiny country that straddles the geopolitical fault-lines of the Middle East and has struggled to emerge from the shadow of a 15-year civil war that ended in 1990. One of the most indebted countries in the world, it needs to find fresh sources of funding as the foreign inflows on which it has traditionally relied have dried up. With the economy slowing and living standards falling, anger has grown at politicians who protesters say have lined their pockets at the public’s expense. Fractious GovernmentThe protests have increased pressure on Hariri, who heads a fractious coalition government that has struggled to overcome sectarian and political differences.A Sunni Muslim, Hariri has been traditionally backed by Saudi Arabia, but the kingdom has withheld support in recent years as the Iranian-backed Hezbollah militia’s political influence in the government has grown. Saudi Arabia urged its citizens not to travel to Lebanon amid the violence, the official Saudi Press Agency said. At the same time, Hezbollah-allied ministers and lawmakers have steadfastly opposed higher taxes and other difficult measures to spare their supporters further economic pain amid tightening U.S. sanctions on the group’s members and on its patron, Iran.The crisis has catapulted Lebanon into a new and unpredictable phase. If Hariri and his allies resign, Lebanon could end up with a government dominated by Hezbollah, making it even harder to attract investment from Gulf Arab countries or the West.If it survives, few observers see how the government can overcome divisions that have already brought the economy to the precipice. Earlier in the day, Foreign Minister Gebran Bassil, a son-in-law of the president and opponent of Hariri, warned that the resignation of the government would lead to chaos and a collapse in Lebanon’s currency. The International Monetary Fund projects Lebanon’s current-account deficit will reach almost 30% of gross domestic product by the end of this year. Amid the violence on Thursday, it issued a new report predicting that economic growth, stagnant at 0.3% in 2018, would continue to be weak amid political and economic uncertainty and a severe contraction in the real estate sector. Public debt is projected to increase to 155% of gross domestic product by the end of 2019, it said.Persistent instability in Lebanon has shaken investor confidence and made it harder to revive an economy already struggling to absorb more than 1.5 million Syrian refugees who have fled the war next door.The yield on Lebanon’s dollar bonds due in 2021 jumped more than two percentage points to 20.38% as of 10:44 a.m. in London, snapping six days of declines. The cost of insuring Lebanese debt against default climbed, with the nation’s five-year credit-default swaps rising 87 basis points to 1,262 -- the highest level on a closing basis since the start of the month.WhatsApp CallsSporadic demonstrations have erupted for months in Lebanon as the economic crisis has led to shortages of dollars and threatened the pensions of retired soldie Číst dále >>> Přeložit do en

Lebanon Leader Threatens to Abandon Ship During Largest Protests in Years

Náhled

Lebanon Leader Threatens to Abandon Ship During Largest Protests in Years (Bloomberg) -- Tens of thousands of protesters set fires and cut off roads across Lebanon Friday, demanding the removal of a political class whose mismanagement and corruption they say has brought the economy to the brink of bankruptcy.In a televised speech, Lebanese Prime Minister Saad Hariri gave his feuding coalition government a 72-hour deadline to get behind his plan for an economic overhaul or he would step aside and let them deal with a deepening crisis that has engulfed Lebanon in the biggest and most violent demonstrations in years.Hariri accused his rivals inside the government of blocking measures that could unlock some $11 billion in international aid pledges and help restore investor confidence.“If anyone thinks they have another solution” they are welcome to take power and try to implement it, Hariri said.The ultimatum did little to ease anger on the streets, where protests were into their second night. Amid chants of “revolution” and “the people want the fall of the regime,” demonstrators burned tires, blocked roads and converged on the government headquarters in the upscale business district of Beirut.As night fell, relatively peaceful protests in downtown Beirut descended into all out riots, with small groups of masked youths setting fires, smashing windows, overturning skips and throwing rocks at police who fired tear gas to disperse the crowd. With the violence worsening, large numbers of riot police and soldiers chased rioters down streets littered with debris and piles of broken glass. Army units deployed around Beirut to secure the streets. The economic stakes are high for Lebanon, a tiny country that straddles the geopolitical fault-lines of the Middle East and has struggled to emerge from the shadow of a 15-year civil war that ended in 1990. One of the most indebted countries in the world, it needs to find fresh sources of funding as the foreign inflows on which it has traditionally relied have dried up. With the economy slowing and living standards falling, anger has grown at politicians who protesters say have lined their pockets at the public’s expense. Fractious GovernmentThe protests have increased pressure on Hariri, who heads a fractious coalition government that has struggled to overcome sectarian and political differences.A Sunni Muslim, Hariri has been traditionally backed by Saudi Arabia, but the kingdom has withheld support in recent years as the Iranian-backed Hezbollah militia’s political influence in the government has grown. Saudi Arabia urged its citizens not to travel to Lebanon amid the violence, the official Saudi Press Agency said. At the same time, Hezbollah-allied ministers and lawmakers have steadfastly opposed higher taxes and other difficult measures to spare their supporters further economic pain amid tightening U.S. sanctions on the group’s members and on its patron, Iran.The crisis has catapulted Lebanon into a new and unpredictable phase. If Hariri and his allies resign, Lebanon could end up with a government dominated by Hezbollah, making it even harder to attract investment from Gulf Arab countries or the West.If it survives, few observers see how the government can overcome divisions that have already brought the economy to the precipice. Earlier in the day, Foreign Minister Gebran Bassil, a son-in-law of the president and opponent of Hariri, warned that the resignation of the government would lead to chaos and a collapse in Lebanon’s currency. The International Monetary Fund projects Lebanon’s current-account deficit will reach almost 30% of gross domestic product by the end of this year. Amid the violence on Thursday, it issued a new report predicting that economic growth, stagnant at 0.3% in 2018, would continue to be weak amid political and economic uncertainty and a severe contraction in the real estate sector. Public debt is projected to increase to 155% of gross domestic product by the end of 2019, it said.Persistent instability in Lebanon has shaken investor confidence and made it harder to revive an economy already struggling to absorb more than 1.5 million Syrian refugees who have fled the war next door.The yield on Lebanon’s dollar bonds due in 2021 jumped more than two percentage points to 20.38% as of 10:44 a.m. in London, snapping six days of declines. The cost of insuring Lebanese debt against default climbed, with the nation’s five-year credit-default swaps rising 87 basis points to 1,262 -- the highest level on a closing basis since the start of the month.WhatsApp CallsSporadic demonstrations have erupted for months in Lebanon as the economic crisis has led to shortages of dollars and threatened the pensions of retired soldie Číst dále >>> Přeložit do en

Lebanon Leader Threatens to Abandon Ship During Largest Protests in Years

Náhled

Lebanon Leader Threatens to Abandon Ship During Largest Protests in Years (Bloomberg) -- Tens of thousands of protesters set fires and cut off roads across Lebanon Friday, demanding the removal of a political class whose mismanagement and corruption they say has brought the economy to the brink of bankruptcy.In a televised speech, Lebanese Prime Minister Saad Hariri gave his feuding coalition government a 72-hour deadline to get behind his plan for an economic overhaul or he would step aside and let them deal with a deepening crisis that has engulfed Lebanon in the biggest and most violent demonstrations in years.Hariri accused his rivals inside the government of blocking measures that could unlock some $11 billion in international aid pledges and help restore investor confidence.“If anyone thinks they have another solution” they are welcome to take power and try to implement it, Hariri said.The ultimatum did little to ease anger on the streets, where protests were into their second night. Amid chants of “revolution” and “the people want the fall of the regime,” demonstrators burned tires, blocked roads and converged on the government headquarters in the upscale business district of Beirut.As night fell, relatively peaceful protests in downtown Beirut descended into all out riots, with small groups of masked youths setting fires, smashing windows, overturning skips and throwing rocks at police who fired tear gas to disperse the crowd. With the violence worsening, large numbers of riot police and soldiers chased rioters down streets littered with debris and piles of broken glass. Army units deployed around Beirut to secure the streets. The economic stakes are high for Lebanon, a tiny country that straddles the geopolitical fault-lines of the Middle East and has struggled to emerge from the shadow of a 15-year civil war that ended in 1990. One of the most indebted countries in the world, it needs to find fresh sources of funding as the foreign inflows on which it has traditionally relied have dried up. With the economy slowing and living standards falling, anger has grown at politicians who protesters say have lined their pockets at the public’s expense. Fractious GovernmentThe protests have increased pressure on Hariri, who heads a fractious coalition government that has struggled to overcome sectarian and political differences.A Sunni Muslim, Hariri has been traditionally backed by Saudi Arabia, but the kingdom has withheld support in recent years as the Iranian-backed Hezbollah militia’s political influence in the government has grown. Saudi Arabia urged its citizens not to travel to Lebanon amid the violence, the official Saudi Press Agency said. At the same time, Hezbollah-allied ministers and lawmakers have steadfastly opposed higher taxes and other difficult measures to spare their supporters further economic pain amid tightening U.S. sanctions on the group’s members and on its patron, Iran.The crisis has catapulted Lebanon into a new and unpredictable phase. If Hariri and his allies resign, Lebanon could end up with a government dominated by Hezbollah, making it even harder to attract investment from Gulf Arab countries or the West.If it survives, few observers see how the government can overcome divisions that have already brought the economy to the precipice. Earlier in the day, Foreign Minister Gebran Bassil, a son-in-law of the president and opponent of Hariri, warned that the resignation of the government would lead to chaos and a collapse in Lebanon’s currency. The International Monetary Fund projects Lebanon’s current-account deficit will reach almost 30% of gross domestic product by the end of this year. Amid the violence on Thursday, it issued a new report predicting that economic growth, stagnant at 0.3% in 2018, would continue to be weak amid political and economic uncertainty and a severe contraction in the real estate sector. Public debt is projected to increase to 155% of gross domestic product by the end of 2019, it said.Persistent instability in Lebanon has shaken investor confidence and made it harder to revive an economy already struggling to absorb more than 1.5 million Syrian refugees who have fled the war next door.The yield on Lebanon’s dollar bonds due in 2021 jumped more than two percentage points to 20.38% as of 10:44 a.m. in London, snapping six days of declines. The cost of insuring Lebanese debt against default climbed, with the nation’s five-year credit-default swaps rising 87 basis points to 1,262 -- the highest level on a closing basis since the start of the month.WhatsApp CallsSporadic demonstrations have erupted for months in Lebanon as the economic crisis has led to shortages of dollars and threatened the pensions of retired soldie Číst dále >>> Přeložit do en

Lebanon Leader Threatens to Abandon Ship During Largest Protests in Years

Náhled

Lebanon Leader Threatens to Abandon Ship During Largest Protests in Years (Bloomberg) -- Tens of thousands of protesters set fires and cut off roads across Lebanon Friday, demanding the removal of a political class whose mismanagement and corruption they say has brought the economy to the brink of bankruptcy.In a televised speech, Lebanese Prime Minister Saad Hariri gave his feuding coalition government a 72-hour deadline to get behind his plan for an economic overhaul or he would step aside and let them deal with a deepening crisis that has engulfed Lebanon in the biggest and most violent demonstrations in years.Hariri accused his rivals inside the government of blocking measures that could unlock some $11 billion in international aid pledges and help restore investor confidence.“If anyone thinks they have another solution” they are welcome to take power and try to implement it, Hariri said.The ultimatum did little to ease anger on the streets, where protests were into their second night. Amid chants of “revolution” and “the people want the fall of the regime,” demonstrators burned tires, blocked roads and converged on the government headquarters in the upscale business district of Beirut.As night fell, relatively peaceful protests in downtown Beirut descended into all out riots, with small groups of masked youths setting fires, smashing windows, overturning skips and throwing rocks at police who fired tear gas to disperse the crowd. With the violence worsening, large numbers of riot police and soldiers chased rioters down streets littered with debris and piles of broken glass. Army units deployed around Beirut to secure the streets. The economic stakes are high for Lebanon, a tiny country that straddles the geopolitical fault-lines of the Middle East and has struggled to emerge from the shadow of a 15-year civil war that ended in 1990. One of the most indebted countries in the world, it needs to find fresh sources of funding as the foreign inflows on which it has traditionally relied have dried up. With the economy slowing and living standards falling, anger has grown at politicians who protesters say have lined their pockets at the public’s expense. Fractious GovernmentThe protests have increased pressure on Hariri, who heads a fractious coalition government that has struggled to overcome sectarian and political differences.A Sunni Muslim, Hariri has been traditionally backed by Saudi Arabia, but the kingdom has withheld support in recent years as the Iranian-backed Hezbollah militia’s political influence in the government has grown. Saudi Arabia urged its citizens not to travel to Lebanon amid the violence, the official Saudi Press Agency said. At the same time, Hezbollah-allied ministers and lawmakers have steadfastly opposed higher taxes and other difficult measures to spare their supporters further economic pain amid tightening U.S. sanctions on the group’s members and on its patron, Iran.The crisis has catapulted Lebanon into a new and unpredictable phase. If Hariri and his allies resign, Lebanon could end up with a government dominated by Hezbollah, making it even harder to attract investment from Gulf Arab countries or the West.If it survives, few observers see how the government can overcome divisions that have already brought the economy to the precipice. Earlier in the day, Foreign Minister Gebran Bassil, a son-in-law of the president and opponent of Hariri, warned that the resignation of the government would lead to chaos and a collapse in Lebanon’s currency. The International Monetary Fund projects Lebanon’s current-account deficit will reach almost 30% of gross domestic product by the end of this year. Amid the violence on Thursday, it issued a new report predicting that economic growth, stagnant at 0.3% in 2018, would continue to be weak amid political and economic uncertainty and a severe contraction in the real estate sector. Public debt is projected to increase to 155% of gross domestic product by the end of 2019, it said.Persistent instability in Lebanon has shaken investor confidence and made it harder to revive an economy already struggling to absorb more than 1.5 million Syrian refugees who have fled the war next door.The yield on Lebanon’s dollar bonds due in 2021 jumped more than two percentage points to 20.38% as of 10:44 a.m. in London, snapping six days of declines. The cost of insuring Lebanese debt against default climbed, with the nation’s five-year credit-default swaps rising 87 basis points to 1,262 -- the highest level on a closing basis since the start of the month.WhatsApp CallsSporadic demonstrations have erupted for months in Lebanon as the economic crisis has led to shortages of dollars and threatened the pensions of retired soldie Číst dále >>> Přeložit do en

Lebanon Leader Threatens to Abandon Ship During Largest Protests in Years

Náhled

Lebanon Leader Threatens to Abandon Ship During Largest Protests in Years (Bloomberg) -- Tens of thousands of protesters set fires and cut off roads across Lebanon Friday, demanding the removal of a political class whose mismanagement and corruption they say has brought the economy to the brink of bankruptcy.In a televised speech, Lebanese Prime Minister Saad Hariri gave his feuding coalition government a 72-hour deadline to get behind his plan for an economic overhaul or he would step aside and let them deal with a deepening crisis that has engulfed Lebanon in the biggest and most violent demonstrations in years.Hariri accused his rivals inside the government of blocking measures that could unlock some $11 billion in international aid pledges and help restore investor confidence.“If anyone thinks they have another solution” they are welcome to take power and try to implement it, Hariri said.The ultimatum did little to ease anger on the streets, where protests were into their second night. Amid chants of “revolution” and “the people want the fall of the regime,” demonstrators burned tires, blocked roads and converged on the government headquarters in the upscale business district of Beirut.As night fell, relatively peaceful protests in downtown Beirut descended into all out riots, with small groups of masked youths setting fires, smashing windows, overturning skips and throwing rocks at police who fired tear gas to disperse the crowd. With the violence worsening, large numbers of riot police and soldiers chased rioters down streets littered with debris and piles of broken glass. Army units deployed around Beirut to secure the streets. The economic stakes are high for Lebanon, a tiny country that straddles the geopolitical fault-lines of the Middle East and has struggled to emerge from the shadow of a 15-year civil war that ended in 1990. One of the most indebted countries in the world, it needs to find fresh sources of funding as the foreign inflows on which it has traditionally relied have dried up. With the economy slowing and living standards falling, anger has grown at politicians who protesters say have lined their pockets at the public’s expense. Fractious GovernmentThe protests have increased pressure on Hariri, who heads a fractious coalition government that has struggled to overcome sectarian and political differences.A Sunni Muslim, Hariri has been traditionally backed by Saudi Arabia, but the kingdom has withheld support in recent years as the Iranian-backed Hezbollah militia’s political influence in the government has grown. Saudi Arabia urged its citizens not to travel to Lebanon amid the violence, the official Saudi Press Agency said. At the same time, Hezbollah-allied ministers and lawmakers have steadfastly opposed higher taxes and other difficult measures to spare their supporters further economic pain amid tightening U.S. sanctions on the group’s members and on its patron, Iran.The crisis has catapulted Lebanon into a new and unpredictable phase. If Hariri and his allies resign, Lebanon could end up with a government dominated by Hezbollah, making it even harder to attract investment from Gulf Arab countries or the West.If it survives, few observers see how the government can overcome divisions that have already brought the economy to the precipice. Earlier in the day, Foreign Minister Gebran Bassil, a son-in-law of the president and opponent of Hariri, warned that the resignation of the government would lead to chaos and a collapse in Lebanon’s currency. The International Monetary Fund projects Lebanon’s current-account deficit will reach almost 30% of gross domestic product by the end of this year. Amid the violence on Thursday, it issued a new report predicting that economic growth, stagnant at 0.3% in 2018, would continue to be weak amid political and economic uncertainty and a severe contraction in the real estate sector. Public debt is projected to increase to 155% of gross domestic product by the end of 2019, it said.Persistent instability in Lebanon has shaken investor confidence and made it harder to revive an economy already struggling to absorb more than 1.5 million Syrian refugees who have fled the war next door.The yield on Lebanon’s dollar bonds due in 2021 jumped more than two percentage points to 20.38% as of 10:44 a.m. in London, snapping six days of declines. The cost of insuring Lebanese debt against default climbed, with the nation’s five-year credit-default swaps rising 87 basis points to 1,262 -- the highest level on a closing basis since the start of the month.WhatsApp CallsSporadic demonstrations have erupted for months in Lebanon as the economic crisis has led to shortages of dollars and threatened the pensions of retired soldie Číst dále >>> Přeložit do en

Lebanon Leader Threatens to Abandon Ship During Largest Protests in Years

Náhled

Lebanon Leader Threatens to Abandon Ship During Largest Protests in Years (Bloomberg) -- Tens of thousands of protesters set fires and cut off roads across Lebanon Friday, demanding the removal of a political class whose mismanagement and corruption they say has brought the economy to the brink of bankruptcy.In a televised speech, Lebanese Prime Minister Saad Hariri gave his feuding coalition government a 72-hour deadline to get behind his plan for an economic overhaul or he would step aside and let them deal with a deepening crisis that has engulfed Lebanon in the biggest and most violent demonstrations in years.Hariri accused his rivals inside the government of blocking measures that could unlock some $11 billion in international aid pledges and help restore investor confidence.“If anyone thinks they have another solution” they are welcome to take power and try to implement it, Hariri said.The ultimatum did little to ease anger on the streets, where protests were into their second night. Amid chants of “revolution” and “the people want the fall of the regime,” demonstrators burned tires, blocked roads and converged on the government headquarters in the upscale business district of Beirut.As night fell, relatively peaceful protests in downtown Beirut descended into all out riots, with small groups of masked youths setting fires, smashing windows, overturning skips and throwing rocks at police who fired tear gas to disperse the crowd. With the violence worsening, large numbers of riot police and soldiers chased rioters down streets littered with debris and piles of broken glass. Army units deployed around Beirut to secure the streets. The economic stakes are high for Lebanon, a tiny country that straddles the geopolitical fault-lines of the Middle East and has struggled to emerge from the shadow of a 15-year civil war that ended in 1990. One of the most indebted countries in the world, it needs to find fresh sources of funding as the foreign inflows on which it has traditionally relied have dried up. With the economy slowing and living standards falling, anger has grown at politicians who protesters say have lined their pockets at the public’s expense. Fractious GovernmentThe protests have increased pressure on Hariri, who heads a fractious coalition government that has struggled to overcome sectarian and political differences.A Sunni Muslim, Hariri has been traditionally backed by Saudi Arabia, but the kingdom has withheld support in recent years as the Iranian-backed Hezbollah militia’s political influence in the government has grown. Saudi Arabia urged its citizens not to travel to Lebanon amid the violence, the official Saudi Press Agency said. At the same time, Hezbollah-allied ministers and lawmakers have steadfastly opposed higher taxes and other difficult measures to spare their supporters further economic pain amid tightening U.S. sanctions on the group’s members and on its patron, Iran.The crisis has catapulted Lebanon into a new and unpredictable phase. If Hariri and his allies resign, Lebanon could end up with a government dominated by Hezbollah, making it even harder to attract investment from Gulf Arab countries or the West.If it survives, few observers see how the government can overcome divisions that have already brought the economy to the precipice. Earlier in the day, Foreign Minister Gebran Bassil, a son-in-law of the president and opponent of Hariri, warned that the resignation of the government would lead to chaos and a collapse in Lebanon’s currency. The International Monetary Fund projects Lebanon’s current-account deficit will reach almost 30% of gross domestic product by the end of this year. Amid the violence on Thursday, it issued a new report predicting that economic growth, stagnant at 0.3% in 2018, would continue to be weak amid political and economic uncertainty and a severe contraction in the real estate sector. Public debt is projected to increase to 155% of gross domestic product by the end of 2019, it said.Persistent instability in Lebanon has shaken investor confidence and made it harder to revive an economy already struggling to absorb more than 1.5 million Syrian refugees who have fled the war next door.The yield on Lebanon’s dollar bonds due in 2021 jumped more than two percentage points to 20.38% as of 10:44 a.m. in London, snapping six days of declines. The cost of insuring Lebanese debt against default climbed, with the nation’s five-year credit-default swaps rising 87 basis points to 1,262 -- the highest level on a closing basis since the start of the month.WhatsApp CallsSporadic demonstrations have erupted for months in Lebanon as the economic crisis has led to shortages of dollars and threatened the pensions of retired soldie Číst dále >>> Přeložit do en

Lebanon Leader Threatens to Abandon Ship During Largest Protests in Years

Náhled

Lebanon Leader Threatens to Abandon Ship During Largest Protests in Years (Bloomberg) -- Tens of thousands of protesters set fires and cut off roads across Lebanon Friday, demanding the removal of a political class whose mismanagement and corruption they say has brought the economy to the brink of bankruptcy.In a televised speech, Lebanese Prime Minister Saad Hariri gave his feuding coalition government a 72-hour deadline to get behind his plan for an economic overhaul or he would step aside and let them deal with a deepening crisis that has engulfed Lebanon in the biggest and most violent demonstrations in years.Hariri accused his rivals inside the government of blocking measures that could unlock some $11 billion in international aid pledges and help restore investor confidence.“If anyone thinks they have another solution” they are welcome to take power and try to implement it, Hariri said.The ultimatum did little to ease anger on the streets, where protests were into their second night. Amid chants of “revolution” and “the people want the fall of the regime,” demonstrators burned tires, blocked roads and converged on the government headquarters in the upscale business district of Beirut.As night fell, relatively peaceful protests in downtown Beirut descended into all out riots, with small groups of masked youths setting fires, smashing windows, overturning skips and throwing rocks at police who fired tear gas to disperse the crowd. With the violence worsening, large numbers of riot police and soldiers chased rioters down streets littered with debris and piles of broken glass. Army units deployed around Beirut to secure the streets. The economic stakes are high for Lebanon, a tiny country that straddles the geopolitical fault-lines of the Middle East and has struggled to emerge from the shadow of a 15-year civil war that ended in 1990. One of the most indebted countries in the world, it needs to find fresh sources of funding as the foreign inflows on which it has traditionally relied have dried up. With the economy slowing and living standards falling, anger has grown at politicians who protesters say have lined their pockets at the public’s expense. Fractious GovernmentThe protests have increased pressure on Hariri, who heads a fractious coalition government that has struggled to overcome sectarian and political differences.A Sunni Muslim, Hariri has been traditionally backed by Saudi Arabia, but the kingdom has withheld support in recent years as the Iranian-backed Hezbollah militia’s political influence in the government has grown. Saudi Arabia urged its citizens not to travel to Lebanon amid the violence, the official Saudi Press Agency said. At the same time, Hezbollah-allied ministers and lawmakers have steadfastly opposed higher taxes and other difficult measures to spare their supporters further economic pain amid tightening U.S. sanctions on the group’s members and on its patron, Iran.The crisis has catapulted Lebanon into a new and unpredictable phase. If Hariri and his allies resign, Lebanon could end up with a government dominated by Hezbollah, making it even harder to attract investment from Gulf Arab countries or the West.If it survives, few observers see how the government can overcome divisions that have already brought the economy to the precipice. Earlier in the day, Foreign Minister Gebran Bassil, a son-in-law of the president and opponent of Hariri, warned that the resignation of the government would lead to chaos and a collapse in Lebanon’s currency. The International Monetary Fund projects Lebanon’s current-account deficit will reach almost 30% of gross domestic product by the end of this year. Amid the violence on Thursday, it issued a new report predicting that economic growth, stagnant at 0.3% in 2018, would continue to be weak amid political and economic uncertainty and a severe contraction in the real estate sector. Public debt is projected to increase to 155% of gross domestic product by the end of 2019, it said.Persistent instability in Lebanon has shaken investor confidence and made it harder to revive an economy already struggling to absorb more than 1.5 million Syrian refugees who have fled the war next door.The yield on Lebanon’s dollar bonds due in 2021 jumped more than two percentage points to 20.38% as of 10:44 a.m. in London, snapping six days of declines. The cost of insuring Lebanese debt against default climbed, with the nation’s five-year credit-default swaps rising 87 basis points to 1,262 -- the highest level on a closing basis since the start of the month.WhatsApp CallsSporadic demonstrations have erupted for months in Lebanon as the economic crisis has led to shortages of dollars and threatened the pensions of retired soldie Číst dále >>> Přeložit do en

Lebanon Leader Threatens to Abandon Ship During Largest Protests in Years

Náhled

Lebanon Leader Threatens to Abandon Ship During Largest Protests in Years (Bloomberg) -- Tens of thousands of protesters set fires and cut off roads across Lebanon Friday, demanding the removal of a political class whose mismanagement and corruption they say has brought the economy to the brink of bankruptcy.In a televised speech, Lebanese Prime Minister Saad Hariri gave his feuding coalition government a 72-hour deadline to get behind his plan for an economic overhaul or he would step aside and let them deal with a deepening crisis that has engulfed Lebanon in the biggest and most violent demonstrations in years.Hariri accused his rivals inside the government of blocking measures that could unlock some $11 billion in international aid pledges and help restore investor confidence.“If anyone thinks they have another solution” they are welcome to take power and try to implement it, Hariri said.The ultimatum did little to ease anger on the streets, where protests were into their second night. Amid chants of “revolution” and “the people want the fall of the regime,” demonstrators burned tires, blocked roads and converged on the government headquarters in the upscale business district of Beirut.As night fell, relatively peaceful protests in downtown Beirut descended into all out riots, with small groups of masked youths setting fires, smashing windows, overturning skips and throwing rocks at police who fired tear gas to disperse the crowd. With the violence worsening, large numbers of riot police and soldiers chased rioters down streets littered with debris and piles of broken glass. Army units deployed around Beirut to secure the streets. The economic stakes are high for Lebanon, a tiny country that straddles the geopolitical fault-lines of the Middle East and has struggled to emerge from the shadow of a 15-year civil war that ended in 1990. One of the most indebted countries in the world, it needs to find fresh sources of funding as the foreign inflows on which it has traditionally relied have dried up. With the economy slowing and living standards falling, anger has grown at politicians who protesters say have lined their pockets at the public’s expense. Fractious GovernmentThe protests have increased pressure on Hariri, who heads a fractious coalition government that has struggled to overcome sectarian and political differences.A Sunni Muslim, Hariri has been traditionally backed by Saudi Arabia, but the kingdom has withheld support in recent years as the Iranian-backed Hezbollah militia’s political influence in the government has grown. Saudi Arabia urged its citizens not to travel to Lebanon amid the violence, the official Saudi Press Agency said. At the same time, Hezbollah-allied ministers and lawmakers have steadfastly opposed higher taxes and other difficult measures to spare their supporters further economic pain amid tightening U.S. sanctions on the group’s members and on its patron, Iran.The crisis has catapulted Lebanon into a new and unpredictable phase. If Hariri and his allies resign, Lebanon could end up with a government dominated by Hezbollah, making it even harder to attract investment from Gulf Arab countries or the West.If it survives, few observers see how the government can overcome divisions that have already brought the economy to the precipice. Earlier in the day, Foreign Minister Gebran Bassil, a son-in-law of the president and opponent of Hariri, warned that the resignation of the government would lead to chaos and a collapse in Lebanon’s currency. The International Monetary Fund projects Lebanon’s current-account deficit will reach almost 30% of gross domestic product by the end of this year. Amid the violence on Thursday, it issued a new report predicting that economic growth, stagnant at 0.3% in 2018, would continue to be weak amid political and economic uncertainty and a severe contraction in the real estate sector. Public debt is projected to increase to 155% of gross domestic product by the end of 2019, it said.Persistent instability in Lebanon has shaken investor confidence and made it harder to revive an economy already struggling to absorb more than 1.5 million Syrian refugees who have fled the war next door.The yield on Lebanon’s dollar bonds due in 2021 jumped more than two percentage points to 20.38% as of 10:44 a.m. in London, snapping six days of declines. The cost of insuring Lebanese debt against default climbed, with the nation’s five-year credit-default swaps rising 87 basis points to 1,262 -- the highest level on a closing basis since the start of the month.WhatsApp CallsSporadic demonstrations have erupted for months in Lebanon as the economic crisis has led to shortages of dollars and threatened the pensions of retired soldie Číst dále >>> Přeložit do en

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Božena W. 17.10.2019, 20:50

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ParlamentníListy.cz

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Skládáme střípky informací

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