The shock being foretold yet denied
This financial system was able to continue and benefited from the effect of the stimulants of Paris 2. Despite the political tension, the effects of the July war, and the war in Syria, the regime benefited from the rise in oil prices and the increased inflow of money due to the global financial crisis (2008). But this system was disrupted, under the hands of a weak government in 2015, the risks grew and the waste crisis came as a warning sign, so that 2016 had a first restoration attempt that was implemented on three fronts: the financial level by covering the losses of banks with financial engineering by about 6 billion dollars, the social level in a festive Municipal election, and the political level, where the presidential settlement was completed under the advice of outsiders.
Despite all the attempts, the “trust” did not last, so a second restoration attempt was launched in 2018. France organized the CEDRE conference, which promised to bring in billions, while Banque du Liban was subscribing to Eurobonds of approximately 5.5 billion dollars in order to bring in funds from abroad, betting on the success of the election festival. Parliament this time.
In October 2018, we in the “Citizens in a State” movement issued a warning of complete bankruptcy and called on the leaders of the sects to proactively negotiate a fair and purposeful distribution of losses because they are functionally unable to manage the inevitable crisis.
With the leaders clinging to their illusions and seeking to fictitiously reduce the deficit by writing off the debt service clause to the limits of zero, betting on a miracle from the Central Bank and believing that it would be smart to impose a tax on the communication service through the WhatsApp application, the October 17, 2019 demonstrations came to surprise everyone except for the banks that decided on the same day to stop paying.