Europe risks falling into Levant’s powder keg 20 Feb 2024 War in Gaza is worsening already dire economic conditions in Egypt, Lebanon and Jordan. Western aid is unlikely to solve their deep problems. Despite efforts to outsource its migration issues, the European Union may find some displaced by a protracted conflict reach its borders.
Review: MbS, Saudi Arabia’s sharpest prince 4 Sep 2020 From the Ritz rumble to unleashing a sovereign fund, "Blood and Oil" brings together the antics of the kingdom’s crown prince in a gripping page-turner. Mohammed bin Salman’s rise through grisly palace politics to unprecedented power elicits horror and, sometimes, admiration.
Lebanon’s gash cuts too deep for orthodox bandage 10 Aug 2020 France hosted an emergency conference on Sunday to arrange aid for the devastated nation - and the IMF called for reforms. But the heavily indebted country has no functioning government, banking system or economy. And the people are livid. Normal reforms look like a pipe dream.
Lebanon blast lays bare cost of a weak state 5 Aug 2020 The devastation in Beirut adds to the political, financial and economic troubles that beset the country. Long-standing governance shortcomings make such tragedies more likely and recovery more difficult. Too many countries share Lebanon’s inability to deal with added catastrophe.
Lebanon faces long road to default exit 9 Mar 2020 The debt-burdened country is set to miss a debt payment due on Monday, a first-time default. The debt’s outdated fine print could give creditors leeway to reject stiff haircuts. But Lebanon could also dust off an old tool in its defense. It’s likely to be a long grind.
Lebanon gives Lazard bankers a brainteaser 28 Feb 2020 The debt-strapped nation has selected the firm to advise on a restructuring. But principal haircuts could imperil local banks, austerity would upset ordinary Lebanese, and Hezbollah’s growing power complicates everything. Lazard will be worth its fees if it can solve the puzzle.
Viewsroom: Carlos Ghosn’s great escape 16 Jan 2020 The international car boss who fled Japanese authorities is now lambasting Nissan and suing Renault for money due. Breakingviews columnists discuss why the latest twists overshadow the fraying global alliance of three automakers. Also, why China’s Geely wants Aston Martin.
Hadas: Ghosn caught in non-prisoner dilemma 15 Jan 2020 The self-liberated former Nissan boss dodged Japanese justice, but took his conscience with him to Lebanon. His decision to flee would be hard to justify without insistent claims of total innocence. Still, the moral and practical case for showing some contrition is strong.
Carlos Ghosn’s image rehab begins in wrong gear 8 Jan 2020 The ex-Renault boss used his first public statements since fleeing Japan to claim a plot involving Nissan and Tokyo prosecutors. The assertions were light on detail, though. That left too much time for missteps such as likening his arrest to Japan’s attack on Pearl Harbor.
Carlos Ghosn helps the 1% end decade on-brand 2 Jan 2020 Nissan’s ex-boss didn’t like Japan’s justice system, and so arranged an escape to his former home Lebanon. The grotesque use of wealth ties a bow on a lucrative 10-year run for the ultra-rich. Leave it to a man who once partied at Versailles to rally the anti-plutocracy movement.
Carlos Ghosn jailbreak is all-purpose face saver 31 Dec 2019 The former car CEO has turned up in Lebanon. How he got out of house arrest in Japan is unclear but it could wind down an uncomfortable diplomatic affair. Nissan and Renault can move on. Japan’s judicial system avoids scrutiny. Ghosn swaps his cultivated martyr image for freedom.
Lebanon’s financial alchemy is losing its magic 18 Dec 2019 The world’s third most indebted nation – with borrowings north of 150% of GDP – may be careening toward a default and an IMF rescue. A complex financial engineering scheme that propped up the banking system is now sputtering. Local banks and foreign bondholders could take a hit.
Syria exposes neighbours’ economic vulnerability 24 Jul 2012 While Turkey and Iraq will watch events over the border nervously, they have little direct economic exposure to Syria. But as pressure grows on the Assad regime, Jordan and Lebanon are feeling a financial impact that is weighing on growth.