High-ranking parliamentary sources questioned the reasons that led caretaker Prime Minister Najib Mikati to place the draft law on bank restructuring on the Cabinet's agenda for its session on Tuesday, and why he discreetly sent it as an annex last Friday. The same sources unanimously agreed that the draft law was rushed and prepared by a specific group of bankers close to the caretaker Prime Minister, his deputy Saadeh el-Chami and his advisor Nicolas Nahas.
The parliamentary sources asserted that, through the passage of this draft law, the Prime Minister is attempting to present credentials to foreign parties by portraying the draft law as support for reforms. This would thereby open the door for him to be reappointed as Prime Minister in the next term. Otherwise, why is this project listed on the agenda of a session scheduled just two days before the presidential election session?
The sources emphasized that the draft law is essentially a continuation of the coup initiated by Hassan Diab’s government, which declared Lebanon bankrupt and shifted the country towards a cash-based economy that served Hezbollah and its allies. The project aims to liquidate the banking sector and its shareholders, erase depositors’ funds and legitimize certain pre-selected banks programmed to remain operational, or even attract foreign banks.
The sources concluded by saying, “Najib Mikati may celebrate if the project is approved in the Cabinet, but it will face fierce opposition in Parliament, where nothing of it will survive, as anything built on falsehood is inherently false.”
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