What's keeping the economic situation from freefalling even deeper into the abyss, is the money of the diaspora. Expats send back money to support their families. That's the lifeline, without which there would be…
Nowadays to buy one would be expensive, a black market. But there is a defensive gun in every house in Lebanon. Some regions more than others. It's part of the history and, in a way, the culture. There is no "random…
The crisis had already started. The explosion came in a really bad time, and made things quite worse. Other than the destruction of half the capital, it also closed the main port for trade. And the tragedy pushed more…
It was bad financial policy to peg the Lira to the Dollar. It should have been free so that the exchange rate reflect its true value. The lifestyle with all the things you could buy in the country since the 90s at the…
It used to be a big thing; a major attraction for international depositors. But it's beginning to be removed under the current situation, because they want to disallow (criminalize) people from transferring their money…
The run on the banks was an effect, not the cause. So in the 1990s, after the country came out of a 2-decade civil war, the government adopted a policy of fixing the currency against the U.S. dollar. So regardless of…
No juries, only judges. And most judges are heavily influenced politically.
A mix of both. Sometimes they tell people "we don't have cash anymore", they close the doors and don't let anyone in. Or just close the bank altogether for a long time (sometimes for fear of their lives). Other times…
Everyone suffers. Bank employees are among the few who are maybe grateful they still have a job; their salaries are also reduced. They fear for their lives many days, because they get so much anger directed at them.…
I don't disagree. After all, without such deterrent, the very next day all the banks in the country would be held at gunpoint. There are many, many people who feel just like he does and are already on the edge, after…
Lebanese here. To answer some of the questions in this thread: - No, Lebanon does not follow Islamic Banking. - No, people can't make wire transfers anymore. All bank accounts are frozen, you can't withdraw your own…
What's keeping the economic situation from freefalling even deeper into the abyss, is the money of the diaspora. Expats send back money to support their families. That's the lifeline, without which there would be…
Nowadays to buy one would be expensive, a black market. But there is a defensive gun in every house in Lebanon. Some regions more than others. It's part of the history and, in a way, the culture. There is no "random…
The crisis had already started. The explosion came in a really bad time, and made things quite worse. Other than the destruction of half the capital, it also closed the main port for trade. And the tragedy pushed more…
It was bad financial policy to peg the Lira to the Dollar. It should have been free so that the exchange rate reflect its true value. The lifestyle with all the things you could buy in the country since the 90s at the…
It used to be a big thing; a major attraction for international depositors. But it's beginning to be removed under the current situation, because they want to disallow (criminalize) people from transferring their money…
The run on the banks was an effect, not the cause. So in the 1990s, after the country came out of a 2-decade civil war, the government adopted a policy of fixing the currency against the U.S. dollar. So regardless of…
No juries, only judges. And most judges are heavily influenced politically.
A mix of both. Sometimes they tell people "we don't have cash anymore", they close the doors and don't let anyone in. Or just close the bank altogether for a long time (sometimes for fear of their lives). Other times…
Everyone suffers. Bank employees are among the few who are maybe grateful they still have a job; their salaries are also reduced. They fear for their lives many days, because they get so much anger directed at them.…
I don't disagree. After all, without such deterrent, the very next day all the banks in the country would be held at gunpoint. There are many, many people who feel just like he does and are already on the edge, after…
Lebanese here. To answer some of the questions in this thread: - No, Lebanon does not follow Islamic Banking. - No, people can't make wire transfers anymore. All bank accounts are frozen, you can't withdraw your own…