All crises in Beirut seem to be escalating and worse. From the financial aspect, an international company lowered the ratings of three of the most important Lebanese banks on Nov. 8 — news that shook the Lebanese capital. Meanwhile, Central Bank Governor Riad Salameh paid visits to prominent officials and warned them that the situation is critical.
In the government, the vacuum — which the country has been experiencing since the resignation of Prime Minister Najib Mikati on March 22 — persists, while a new government is still waiting to be formed. Better yet, it seems that the situation is on the verge of becoming an even greater dilemma amid increasing regional polarization. This has led to a deep rift between the two conflicting Lebanese parties, especially with the nearing presidential elections scheduled for March 25, 2014. People are also afraid of a complete institutional vacuum after the end of the current president’s term on May 25, 2014.
