
May 6, 2021
France’s foreign minister is starting a visit to Lebanon with a message of “great firmness” to political leaders
BEIRUT (AP) — France's foreign minister began a visit to Lebanon Thursday with a message of “great firmness” to its political leaders, threatening to take additional measures against officials obstructing the formation of a government in the crisis-hit country.
Tweeting ahead of his arrival, Jean-Yves Le Drian said French travel restrictions on Lebanese officials suspected of corruption or hindering the formation of a new Cabinet were “just the start.”
France has been trying to force change on Lebanon's ruling class, whose corruption and mismanagement has driven the tiny country into the ground and pushed it to the verge of bankruptcy. The country is experiencing the worst economic and financial crisis of its modern history. The local currency has lost 85% of its value against the dollar in recent months while banks imposed informal controls on transfers and withdrawals.
The economic crisis was made worse by a massive explosion at Beirut’s port last summer, which destroyed the facility and surrounding neighborhoods. The government of Prime Minister Hassan Diab stepped down in the wake of the explosion, and former premier Saad Hariri was tasked with forming a new one.
Hariri has not been able to form a Cabinet amid deep disagreements between him and President Michel Aoun, who has no legal recourse to fire him. The deadlock is accelerating the country's meltdown.
“I will be in Lebanon tomorrow with a message of great firmness to political leaders and a message of our complete solidarity to the Lebanese,” Le Drian posted Thursday. “Firmness in the face of those hindering the formation of a government: we have taken national action, and this is just the start.”
Last week, Le Drian said France will start to put in place measures restricting access to French territory for Lebanese officials implicated in the political blockage or corruption.
He did not name any of those targeted or say how many. The Foreign Ministry did not release details of what the restrictions entail.
The move stops short of sanctions for now, but Le Drian said more could come later.
Last year, French President Emmanuel Macron proposed a roadmap to break the political stalemate in the former French protectorate. Macron, who has previously said he is “ashamed” of Lebanese politicians, has been pressing for a Cabinet made up of non-partisan specialists who can work on urgent reforms to extract Lebanon from its multiple crises.
Those efforts have led nowhere as Lebanese top officials continue to bicker about the shape and size of a new Cabinet, and who chooses which ministers.
Commercials with Sydney Sweeney promoting a gambling platform and Megan Fox endorsing male enhancement have rankled fans, and even athletes. Who is in charge?
Despite strong revenues and profits, the streaming service cut 1,000 jobs and jettisoned its chief content officer. Drops in the stock price and viewer engagement are to blame.
In the contrarian logic of investing, rising interest rates have made bonds much more attractive, our columnist says.
Higher interest rates are inflating borrowing costs as the Trump administration spends on the Iran war and tariff refunds.
The potential downgrade by MSCI, an influential index provider, adds to a deepening crisis of investor confidence in the economic policies of President Prabowo Subianto.
The Federal Reserve chairman stuck to his pledge to avoid providing guidance about the path forward for interest rates, but did nothing to convey an urgency to raise them later this month.
A new railway corridor: How Nanning links Chinese and ASEAN markets
Tesla CEO Elon Musk showcased the vehicle at a facility owned by his SpaceX company, which helped develop the model.
China and Europe are building new connections in aerospace – from skies to stars. On the one hand, their deep industrial partnership is scaling global civil aviation to new heights. On the other hand, scientific collaboration is opening new possibilities for space exploration and deepening our understanding of the Sun-Earth system.
In this episode of BizTalk, CGTN's Guan Xin speaks with Zlatko Lagumdzija, former prime minister of Bosnia and Herzegovina, about China's development and its role in global governance.
Kevin Warsh, the central bank’s chairman, suggested he wouldn’t push to raise borrowing rates this month. But persistent inflation may force the Fed’s hand.
Senior banking executives have told the BBC they expect to be "on the menu" in the chancellor's Budget tax later this month.