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Lebanon offers a case study in financial collapse. Never had an economy fallen so brutally, nor had a banking crisis been left so unmanaged, with predatory and irresponsible elites denying evidence of deterioration as depositors’ money evaporated. The failure was abrupt but originated from an illness that started long ago. This paper follows the crisis through its various stages to its lowest depths and warns that it risks changing Lebanon forever.
Tuesday, September 28, 2021 1 min read
Lebanon offers a case study in financial collapse. Never had an economy fallen so brutally, nor had a banking crisis been left so unmanaged, with predatory and irresponsible elites denying evidence of deterioration as depositors’ money evaporated. The failure was abrupt but originated from an illness that started long ago. This paper follows the crisis through its various stages to its lowest depths and warns that it risks changing Lebanon forever.
