Lebanon: French Initiative Under Political Lockdown

French President Emmanuel Macron and Lebanon’s President Michel Aoun wear face masks as they arrives to attend a meeting at the presidential palace in Baabda, Lebanon September 1, 2020. REUTERS/Gonzalo Fuentes/Pool/File Photo
French President Emmanuel Macron and Lebanon’s President Michel Aoun wear face masks as they arrives to attend a meeting at the presidential palace in Baabda, Lebanon September 1, 2020. REUTERS/Gonzalo Fuentes/Pool/File Photo
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Lebanon: French Initiative Under Political Lockdown

French President Emmanuel Macron and Lebanon’s President Michel Aoun wear face masks as they arrives to attend a meeting at the presidential palace in Baabda, Lebanon September 1, 2020. REUTERS/Gonzalo Fuentes/Pool/File Photo
French President Emmanuel Macron and Lebanon’s President Michel Aoun wear face masks as they arrives to attend a meeting at the presidential palace in Baabda, Lebanon September 1, 2020. REUTERS/Gonzalo Fuentes/Pool/File Photo

The French initiative in support of Lebanon seems to be heading towards a political lockdown unless President Emmanuel Macron manages to resolve the external obstacles hindering the formation of a new government.

However, this will not be achieved - at least in the foreseeable future - before the features of US President Joe Biden’s policy in the Middle East and Iran crystallize.

Macron’s initiative to rescue Lebanon set off from the disaster that befell Beirut as a result of the port explosion. The Lebanese people rushed to welcome the French president as he was inspecting the affected neighborhoods in the capital, amid a remarkable absence of state officials.

But Macron tried to use the popular reactions to put pressure on the traditional political forces, without turning towards major international and regional stakeholders to secure a political safety net that would fortify his initiative.

In this context, a political source told Asharq al-Awsat that Macron sought hard to save Lebanon, not only out of the distinguished relationship binding the latter to France, but also because he was deeply affected by the tragic scenes that he personally witnessed in the devastated Lebanese capital.

But the French president - according to the sources - was surprised while urging the political forces to form a strong government, by the American sanctions that targeted successively the head of the Free Patriotic Movement, MP Gebran Bassil, and former ministers Ali Hassan Khalil, Ghazi Zaiter and Youssef Fenianos, which hindered the cabinet’s formation.

He was also surprised that Tehran did not respond to his initiative, although he sought, through his work team, to persuade it to facilitate the government formation process. The sources said that Iran was not ready to ease his mission, because it preferred to use the Lebanese file as a card during its negotiations with the new US administration.

The political sources noted that Macron’s team made a mistake by not using a set of pressure papers that it could employ to soften Hezbollah’s position, and through it Tehran.

“Was the French president compelled to exclude pending political files from his initiative, specifically with regards to Lebanon’s defense strategy…?” The sources asked.

According to the sources, Macron made a mistake in negotiating with Hezbollah through his envoy to Beirut, Patrick Durel, who received reassurances from the party about facilitating the birth of the government but without asking it to pressure Aoun and Bassil for this purpose.

They inquired: “Why didn’t Hezbollah intervene to allow the success of the French initiative in a sign of gratitude to Paris, which is almost the only European capital that still distinguishes between the movement’s civil and military wings?”

Therefore, France’s inability to market its initiative lied in the fact that it assigned a team of amateurs to keep abreast of the ongoing contacts, specifically between Aoun and Prime Minister-designate Saad Hariri, without this team directly interfering in the disputes still delaying the government formation.



COP29 - How Does $300 Billion Stack up?

A demonstrator sitting on the ground holds a poster during a climate protest in Lisbon, to coincide with the closing of the COP29 Climate Summit Saturday, Nov. 23, 2024. (AP)
A demonstrator sitting on the ground holds a poster during a climate protest in Lisbon, to coincide with the closing of the COP29 Climate Summit Saturday, Nov. 23, 2024. (AP)
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COP29 - How Does $300 Billion Stack up?

A demonstrator sitting on the ground holds a poster during a climate protest in Lisbon, to coincide with the closing of the COP29 Climate Summit Saturday, Nov. 23, 2024. (AP)
A demonstrator sitting on the ground holds a poster during a climate protest in Lisbon, to coincide with the closing of the COP29 Climate Summit Saturday, Nov. 23, 2024. (AP)

Countries agreed at the UN's COP29 climate conference to spend $300 billion on annual climate finance. Here are some ways of understanding what that sum is worth:

MILITARY MIGHT

In 2023, governments around the globe spent $6.7 billion a day on military expenditure, according to the Stockholm International Peace Research Institute.

That means the $300 billion annual climate finance target equates to 45 days of global military spending.

BURNING OIL

$300 billion is currently the price tag for all the crude oil used by the world in a little over 40 days, according to Reuters calculations based on global crude oil demand of approximately 100 million barrels/day and end-November Brent crude oil prices.

ELON MUSK

According to Forbes, Elon Musk's net worth stood at $321.7 billion in late November. The world's richest man and owner of social media platform X has co-founded more than half a dozen companies, including electric car maker Tesla and rocket producer SpaceX.

STORM DAMAGE

Hurricane Katrina, one of the most devastating and deadliest cyclones in US history, caused $200 billion in damage alone in 2005.

This year's climate-fueled Hurricane Helene could end up costing up to $250 billion in economic losses and damages in the US, according to estimates by AccuWeather. While preliminary estimates by Morningstar DBRS suggest Hurricane Milton, also supercharged by ocean heat, could cost both the insured and uninsured nearly $100 billion.

BEAUTY BUYS

The global luxury goods market is valued at 363 billion euros ($378 billion) in 2024, according to Bain & Company.

COPPER PLATED

The GDP of Chile - the world's largest copper producing country - stood at $335.5 billion in 2023, according to World Bank data.

GREECE'S BAIL OUT

Euro zone countries and the International Monetary Fund spent some 260 billion euros ($271 billion) between 2010 and 2018 on bailing out Greece - the biggest sovereign bailout in economic history.

BRITISH BONDS

Britain's new government needs to borrow more to fund budget plans. Gilt issuance is expected to rise to 296.9 billion pounds ($372.05 billion) for the current financial year.

TECH TALLY

A 10% share of tech giant Microsoft is worth just over $300 billion, according to LSEG data. Meanwhile the market cap for US oil major Chevron stood at $292 billion.

CRYPTO

The annual climate finance target amounts to 75% of the total value of the global market for crypto currency Ether, the world's second-largest cryptocurrency.

Alternatively, 3 million Bitcoin would cover the annual climate finance target as the world's largest cryptocurrency closes in on the $100,000 mark following a rally fueled by Donald Trump winning the Nov. 5 US presidential election.