Quote:
Originally Posted by Libnene Qu7  The real danger is in the fact that the interest on our deficit is much greater than our GDP. That means we have entered into a vicious cycle that will keep ballooning our deficit no matter how much money we pay back. The only thing that will save Lebanon is if a foreign countries will be generous enough to write off these debts and give us money to pay back our banks.[enter Palestinian refugees]
By the way, when the government first announced its issuance of bonds with double digit returns on investments, do you know who were the biggest customers? Aside from the Syrian officers that kicked our politicians around, it was Hariri, Hrawi, Berri, Murr, and their entourages that bought these bonds at ridiculous interest rates. In effect, they gave millions to the government and got back billions a few years later. Ask yourself this: Does Lebanon look like it used $58 billion to rebuild from 1991 until now? |
Absolutely true.
As a side note, the UN report evaluated the cost of "reconstruction" under Hariri era at
2.5 Billion Dollars.
Hariri himself, El Salem 3ala Esmo,acknowledged that the "reconstruction" under his rule was at the cost of
4 Billion Dollars.
And now we have
58 Billion Dollars debts...but it's been over 15 years that we are paying interests worth around
4 billion dollars per year.
And those interests are paid directly to Hariri's banks and friends and accomplices.
So up til today...The stolen money is evaluated at more than
100 billion dollars.
And we will keep counting...And Hariri and accomplices will keep getting richer and richer.
27th July 2009
