Banks to Take Part in Economic Committees' Movement but SCC Boycotts

The head of the Association of Banks in Lebanon, Francois Bassil, has said the ABL will participate in a conference organized by the Economic Committees on Thursday to shed light on the severe repercussions of the political crisis on the country's economy.

Bassil told An Nahar daily published Wednesday that although the banking sector is functioning properly, the ABL will take part in the conference that will be held in BIEL.

“Our conditions will not be better than the rest of the sectors if the situation remains the same,” he warned.

Bassil hoped that Thursday's move would shake the conscience of politicians and they would think about Lebanon’s interest first.

The head of the ABL stressed that the Lebanese Lira is strong and the conditions of the financial market are better off this week.

Meanwhile, the Syndicate Coordination Committee said it would boycott the BIEL conference because the Economic Committees, a grouping of the country's businessmen and owners of major firms, stood against the SCC when it was asking for the approval of the wage scale for the public sector.

On Tuesday, Free Patriotic Movement leader MP Michel Aoun criticized the Committees, saying the businessmen complaining that the political crisis is harming the economy are to be blamed for robbing the country.

The MPs from the Change and Reform bloc of Aoun, who is a presidential candidate, and Hizbullah lawmakers have been boycotting parliamentary sessions aimed at electing a head of state.

The vacuum at Baabda Palace since the term of President Michel Suleiman ended in May last year has caused a paralysis in parliament and the cabinet.

G.K.

D.A.