Lebanon is marking 75 years of independence with a military parade Thursday in Beirut, but many anxious Lebanese feel they have little to celebrate: the country's corruption-plagued economy is dangerously close to collapse and political bickering over shares in a new Cabinet is threatening to scuttle pledges worth $11 billion by international donors.

The World Bank issued a stark warning last week, with one official saying that unless a government is formed soon to carry out badly needed reforms, "the Lebanon we know will fizzle away."

Speaker Nabih Berri expressed “pessimism” about the recent government-related issues, rejecting accusations that the Shiite duo (AMAL Movement of the Speaker and Hizbullah) were obstructing the formation process, al-Joumhouria daily reported on Thursday.

A solitary cell, 30 minutes of daily exercise and two baths a week: Carlos Ghosn's new routine is a world away from the private jets and lavish parties the millionaire tycoon once enjoyed.

Lebanon commemorated on Thursday its 75th independence anniversary in downtown Beirut marking the liberation from the French Mandate, amid uncertainty about the formation of its government six months after the designation of the Premier.

Minister of State for the Middle East at the Foreign and Commonwealth Office Alistair Burt congratulated Lebanon on its Independence Day, the British embassy said in a statement.

Lebanon celebrated Independence Day on Wednesday with several challenges facing the country, including forming its government after several months of delay.

General Security Chief, Maj. Gen. Abbas Ibrahim stressed on Wednesday that the Directorate's may concern was to defeat terrorism.

Caretaker Foreign Minister Jebran Bassil’s stances after meeting March 8 Sunni MPs were perceived by al-Mustaqbal Movement as an attempt to adopt Hizbullah’s demands on their representation in the government, meaning a “government is unlikely to be formed in the foreseeable future,” Asharq Al-Awsat newspaper reported on Wednesday.

Meanwhile, sources of the Free Patriotic Movement believe a solution is possible, and Bassil’s attempts won’t stop in that regard, said the daily.

Japanese authorities Wednesday extended Nissan Chairman Carlos Ghosn's -of Lebanese descent- detention by 10 days, as it emerged the car giant itself could face charges over the alleged financial misconduct that laid low its once-loved leader.

Caretaker Foreign Minister Jebran Bassil has instructed Lebanese Ambassador to Japan Nidal Yahia to “follow up on the case of Mr. Carlos Ghosn, the chairman of the “Renault-Nissan-Mitsubishi Alliance,” after he was arrested for alleged financial misconduct, the National News Agency said.

NNA added that Bassil has asked the envoy to “meet him, inquire about his needs, verify the legality of the measures that have been taken, and ensure that he will be provided with legal assistance so that he can present the facts and evidence in his possession and have a real chance to defend himself.”