Politicians Scramble to Reject Any Deposits 'Haircut'

A proposed “haircut” draft law will not pass in parliament because it is a “blatant theft,” informed parliamentary sources have said.

“The state cannot begin its plan by robbing the bank deposits, especially those of the expats who have placed their confidence in the Lebanese banking system,” the sources told An-Nahar newspaper in remarks published Sunday.

“The state must privatize some sectors and sell others or else Lebanon will be doomed. They are changing Lebanon's economic, financial and social face,” the sources urged and warned.

Finance Minister Ghazi Wazni meanwhile announced that “everything being said about a haircut is inaccurate.”

“It requires a law and therefore the government has not tackled it in any way whatsoever,” he said.