Skip to main content

Lebanon banks affected by wage hike

The proposed solutions to the wage hike debate in Lebanon included raising the interest rates on bank deposits, which will prevent the banking sector from playing its role as a catalyst for economic growth.
A man uses an ATM at the Lebanese Canadian Bank (LCB) headquarters in Beirut February 11, 2011. Lebanon's central bank governor Riad Salameh expressed support on Friday for Beirut-based Lebanese Canadian Bank (LCB), which faces U.S. Treasury Department accusations of involvement in money laundering. REUTERS/ Cynthia karam    (LEBANON - Tags: BUSINESS) - RTXXQK2
Read in 

There are no problems without solutions, but there are problems that are incorrectly raised. The most dangerous thing about the debate raging around the wage hike for public sector employees in Lebanon is that it gives the impression that it is a conflict between workers and employers, but it is not.

Not only does portraying the problem in such a way blur facts but it also blocks prospects of finding solutions. If there ought to be a dispute, then it is the partners in production who should be the parties to this confrontation, i.e., workers and employers on the one hand, and those hindering development on the other, namely those who drove the country to this state of paralysis and stagnation. The latter include those who have been in charge since 2011, in particular Hezbollah, and the political elites in general.

Access the Middle East news and analysis you can trust

Join our community of Middle East readers to experience all of Al-Monitor, including 24/7 news, analyses, memos, reports and newsletters.

Subscribe

Only $100 per year.