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Diab: We Don't Want to Bring Banks to Their Knees, Depositors Won't Pay Price

Jul 01

Diab: We Don't Want to Bring Banks to Their Knees, Depositors Won't Pay Price

Prime Minister Hassan Diab on Tuesday said the government’s objective is not to “bring the banking sector or the central bank to their knees.”

He also stressed that depositors “will not pay the price.”

“We’re committed to the financial plan and to the losses figures included in it and this has become behind us. We are now discussing how to distribute the losses in communication with the central bank governor, the banking sector and the finance minister,” Diab added during a Cabinet session.

He also emphasized that Lebanon’s national sovereignty is “sacred.”

“We'll preserve it through all legitimate means and we won't give up any grain of sand or drop of water,” Diab added, in connection with reports that Israel has decided to start oil and gas exploration in a maritime area claimed by Lebanon.

naharnet