Lebanon: Mikati Says Wants to Protect Small Depositors Not Banks

Prime Minister Najib Mikati speaks to reports at Baabda Palace. AP file photo
Prime Minister Najib Mikati speaks to reports at Baabda Palace. AP file photo
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Lebanon: Mikati Says Wants to Protect Small Depositors Not Banks

Prime Minister Najib Mikati speaks to reports at Baabda Palace. AP file photo
Prime Minister Najib Mikati speaks to reports at Baabda Palace. AP file photo

Lebanon's prime minister said on Saturday after a cabinet meeting convened to address judicial actions against seven banks that the goal was to protect small depositors not lenders.

"We are protecting institutions, not individuals," Najib Mikati told a news conference, Reuters reported.

Lebanese banks plan a two-day strike next week in protest at judicial moves against seven major lenders, a standoff that could bring more instability for a country mired in a financial crisis since 2019.

The banking association said the strike was a warning against what it called "the arbitrariness of some judicial decisions" - a reference to orders that have frozen the assets of seven banks since March 14 and banned six of their executives from travel.

Lebanon's banks have been paralyzed since the financial system collapsed in 2019 under the weight of huge public debts caused by decades of state corruption and waste, locking depositors out of their savings. It is Lebanon's most destabilizing crisis since the 1975-90 civil war.



Cyprus Can Help Rid Syria of Chemical Weapons, Search for its Missing, Says Top Diplomat

FILE PHOTO: A UN chemical weapons expert, wearing a gas mask, holds a plastic bag containing samples from one of the sites of an alleged chemical weapons attack in the Ain Tarma neighborhood of Damascus August 29, 2013. REUTERS/Mohamed Abdullah
FILE PHOTO: A UN chemical weapons expert, wearing a gas mask, holds a plastic bag containing samples from one of the sites of an alleged chemical weapons attack in the Ain Tarma neighborhood of Damascus August 29, 2013. REUTERS/Mohamed Abdullah
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Cyprus Can Help Rid Syria of Chemical Weapons, Search for its Missing, Says Top Diplomat

FILE PHOTO: A UN chemical weapons expert, wearing a gas mask, holds a plastic bag containing samples from one of the sites of an alleged chemical weapons attack in the Ain Tarma neighborhood of Damascus August 29, 2013. REUTERS/Mohamed Abdullah
FILE PHOTO: A UN chemical weapons expert, wearing a gas mask, holds a plastic bag containing samples from one of the sites of an alleged chemical weapons attack in the Ain Tarma neighborhood of Damascus August 29, 2013. REUTERS/Mohamed Abdullah

Cyprus stands ready to help eliminate Syria’s remaining chemical weapons stockpiles and to support a search for people whose fate remains unknown after more than a decade of war, the top Cypriot diplomat said Saturday.

Foreign Minister Constantinos Kombos said Cyprus’ offer is grounded on its own past experience both with helping rid Syria of chemical weapons 11 years ago and its own ongoing, decades-old search for hundreds of people who disappeared amid fighting between Greek Cypriot and Turkish Cypriots in the 1960s and a 1974 Turkish invasion, The AP reported.

Cyprus in 2013 hosted the support base of a mission jointly run by the United Nations and the Organization for the Prohibition of Chemical Weapons (OPCW) to remove and dispose of Syria's chemical weapons.

“As a neighboring country located just 65 miles from Syria, Cyprus has a vested interest in Syria’s future. Developments there will directly impact Cyprus, particularly in terms of potential new migratory flows and the risks of terrorism and extremism,” Kombos told The AP in written replies to questions.

Kombos said there are “profound concerns” among his counterparts across the region over Syria’s future security, especially regarding a possible resurgence of extremist groups like ISIS in a fragmented and polarized society.

“This is particularly critical in light of potential social and demographic engineering disguised as “security” arrangements, which could further destabilize the country,” Kombos said.

The diplomat also pointed to the recent proliferation of narcotics production like the stimulant Captagon that is interconnected with smuggling networks involved in people and arms trafficking.

Kombos said ongoing attacks against Syria’s Kurds must stop immediately, given the role that Kurdish forces have played in combating extremist forces like the ISIS group in the past decade.

Saleh Muslim, a member of the Kurdish Presidential Council, said in an interview that the Kurds primarily seek “equality” enshrined in rights accorded to all in any democracy.

He said a future form of governance could accord autonomy to the Kurds under some kind of federal structure.

“But the important thing is to have democratic rights for all the Syrians and including the Kurdish people,” he said.

Muslim warned that the Kurdish-majority city of Kobani, near Syria’s border with Türkiye, is in “very big danger” of falling into the hands of Turkish-backed forces, and accused Türkiye of trying to occupy it.

Kombos said the international community needs to ensure that the influence Türkiye is trying to exert in Syria is “not going to create an even worse situation than there already is.”

“Whatever the future landscape in Syria, it will have a direct and far-reaching impact on the region, the European Union and the broader international community,” Kombos said.