The Govt is approaching the economic rescue/ restructuring as a purely economic exercise, but it is so much more than that. An excel spreadsheet may spit out that 70% of people’s deposits are gone, but are people expected to just accept this because that’s how the math works out?

I have nothing to say about the Plan b/c everything in here has been known for months. We talked about it in more detail than in this Plan. We covered the history, how we got here, who’s responsible, the size of the losses, the limited options available, impact on depositors...

...and the path forward. There’s nothing new here if you’ve been reading us.

The blog: http://finance4lebanon.com 

Where the deposits have gone? https://twitter.com/LCPSLebanon/status/1246442364601864194?s=20

I’ve made the point often on TV & in the press: If people are expected to sacrifice, they need to be a part of the process with a Govt that bothers explaining to them what happened & why, why these steps are necessary, & takes responsibility. Otherwise, ppl will never accept it.

Again... this was not just some lofty intervention. We said this for a reason. People are worried sick about their savings. This is not an excel modeling exercise. https://twitter.com/lebfinance/status/1244640805123493890?s=20

We calculated the losses (same number as the Govt!), we knew they would touch everyone, big & small depositors, ppl w/ bank & w/o bank accts. That's why we pushed the Govt to be more forthcoming. We know there is no alternative. People are still unprepared for what's coming.

No economic rescue plan, no matter how good, will work, if people don't understand what happened, why it happened, what steps the Govt is taking and why, and who is being held accountable.

Without immediate accountability for this catastrophe, there is no path forward. Period.

The country can rebuild, but infighting, sectarianism rearing its ugly head, lack of engagement & transparency with the public, lack of accountability are standing in the way.

A deadly virus may be the only thing saving the decision-makers who led us over the cliff right now.

@Hassan_B_Diab