Thursday, August 27, 2009

Lebanon ... on the verge of complete bankruptcy

The DailyStar, here
The state-run power company, for example, is already unable to meet rising demand for electricity, but instead of pressing ahead with plans to privatize the firm or to introduce renewable energy projects, the government continues to spend millions of dollars each year to cover the costs of running aging power plants. If we continue to do things the same way the debt will only keep mounting...
The reality is that politicians show little concern for the local problems that have such a tremendous impact on the day-to-day lives of Lebanese citizens. Hizbullah champions the need to battle the Israelis, while several March 14 factions prioritize the need to shake off Syrian influence, but nobody is talking about the need to free this country from its self-imposed shackles of mounting public debt. Most politicians instead seem content to pass along the burden of paying off billions of dollars in debt and interest to the next generation of Lebanese citizens..."

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