Lebanese Officials Begin Mulling Names of Presidential Candidates

This aerial view shows activists and relatives of the 2020 Beirut port blast victims spreading a giant national flag, as they march in the Lebanese capital's port area on August 4, 2022, on the day that crisis-hit country marks two years since a giant explosion ripped through the capital. (AFP)
This aerial view shows activists and relatives of the 2020 Beirut port blast victims spreading a giant national flag, as they march in the Lebanese capital's port area on August 4, 2022, on the day that crisis-hit country marks two years since a giant explosion ripped through the capital. (AFP)
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Lebanese Officials Begin Mulling Names of Presidential Candidates

This aerial view shows activists and relatives of the 2020 Beirut port blast victims spreading a giant national flag, as they march in the Lebanese capital's port area on August 4, 2022, on the day that crisis-hit country marks two years since a giant explosion ripped through the capital. (AFP)
This aerial view shows activists and relatives of the 2020 Beirut port blast victims spreading a giant national flag, as they march in the Lebanese capital's port area on August 4, 2022, on the day that crisis-hit country marks two years since a giant explosion ripped through the capital. (AFP)

Lebanese political blocs have kicked off “cautious” efforts to discuss potential presidential candidates to succeed Michel Aoun, whose term ends in around 80 days.

In general terms, the president is expected to be “open” to all parties and blocs, enjoy “internal political consensus”, and be able to address the international community and put Lebanon “on the right track to recovery”.

The presidential election needs the attendance of two thirds of the 128-member parliament to meet the desired quorum. A candidate is declared a winner after reaping over two thirds of votes in the first round.

This usually demands agreements between various political blocs, rivals and allies alike. Discussions to reach such agreements started about a month ago.

MPs of the civilian protest movement for change have in recent weeks discussed the characteristics of potential candidates without delving into names, said sources monitoring the discussions.

Some of the 13 Change lawmakers are in contact with opposition political forces and others to garner their views and attempt to reach possible understandings over the elections, the sources told Asharq Al-Awsat.

The Change MPs are in agreement with traditional political forces over some issues and disagreement over others, namely that the president must not be a partisan or military figure.

The latter position clashes with the Lebanese Forces that supports the nomination of army commander Joseph Aoun if consensus is reached over him.

Some Change MPs agree with the LF, Kataeb and Progressive Socialist Party over a candidate who is “sovereign” - meaning a figure not affiliated with Iran - and supports the independence of the judiciary, which they view as the foundation of any state seeking transparency and accountability and that wants to combat corruption.

They are also aspiring for a president who would approve the financial and economic recovery plan.

The Change MPs have stressed their openness to all non-partisan figures.

Change MP Ibrahim Mneimneh told Asharq Al-Awsat that the discussions have not been completed yet.

He said he wants the election of a president who will pursue reform and has a political and economic vision that “gives hope to the people.”

The president must be a centrist who is not affiliated with any of the regional powers, he added.

“He must be solely loyal to Lebanon,” he underlined. He must also enjoy international relations and be accepted by the international community so that he can mend Lebanon’s ties with Arab and friendly nations that have been damaged in recent years.

On the reluctance to nominate a military figure, Mneimneh explained that the Change MPs prefer for the military to be separated from politics.

“We prefer for the president to be a civilian,” he remarked.

“We are hoping to be united in nominating a president,” he said in wake of the division that emerged among the Change MPs in naming a prime minister in recent months.

As the debate over the presidential nominations gains steam among the LF, Kataeb and other blocs, Hezbollah has notably remained silent.

The Iran-backed party has yet to throw its support behind a candidate in spite of its alliance with the Free Patriotic Movement, which is headed by MP Gebran Bassil and whose founder is President Aoun, and close ties with head of the Marada movement, Suleiman Franjieh, a potential candidate.

The traditional parties each seemingly have their own characteristics of what a candidate should be like.

The LF believes its leader Samir Geagea to be a shoe-in for president and does not want a candidate from the March 8 camp to be elected.

The Marada movement believes a candidate must be a consensual figure. The Shiite Amal movement, of parliament Speaker Nabih Berri, believes the president must respect Islamic, Christian and national views. This position is in line with former prime minister Fuad Siniora, who believes that the presidential elections is not a strictly Christian affair.

The FPM, meanwhile, believes that the president must enjoy popular representation, reflecting “the political national will expressed by the people in the parliamentary elections.”

“What’s the point of democracy, elections and political work if the concept of respecting popular representation is ignored?” says the movement.



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.