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MP Sami Gemayel , leader of the Phalange blamed in televised remarks on Saturday the “ruling authority, Banque du Liban and Hezbollah for the economic and financial crises in Lebanon.

“All the budgets approved between 2017 and 2020 have created a gap in the State’s budget,” Gemayel said, noting that the Parliament also had a role when it “unanimously approved these budgets and loans.”

“The funds of Lebanese depositors have been spent by the government on financing fake projects and budgets, that’s why Lebanese are unable to withdraw their money from banks,” he added.

“The ruling authority of “settlements” is primarily responsible, it has approved disastrous budgets and never froze hiring. The responsibility falls secondly on Hezbollah because of its enmity for the international community and the sanctions which discouraged investors from pumping money,” added Gemayel.

“The Central bank is the third to blame for the crisis because it continued to fund the State’s deficit,” he added

The banking sector must be “refortified and parties responsible for the crisis must be held accountable starting with the Central Bank Governor,” Riad Salameh “for all what happened in the last period,” he concluded.

Collapse of the banking system could mean the end of Lebanon

According to analysts the Lebanese only want to know one thing: When will banks release their hold on people’s deposits? It’s not just a question of freeing Lebanese and Arab deposits, but also of playing with the country’s fate. The Lebanese are also worried about the future of their country, not knowing if it can survive if its banking system collapses.

What has enabled Lebanon to survive ever since its independence in 1943 is its banking system and its continued efforts to protect a vibrant culture of life over the culture of death advocated by militia groups like Hezbollah, and before it by Christian and Islamic militias and Palestinian factions. They all played a role in the destruction of Lebanon with help from the Syrian regime .

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